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Publication date: 20.04.2024
Lawyer with 15 years of legal experience, specialization: family and civil law, inheritance, contract law, criminal cases, administrative cases, cases involving foreigners, migration law
Inheritance of businesses and enterprises is a complex process that has its own peculiarities and requirements in Ukraine. In this article, we will review the main aspects of business and enterprise succession in Ukraine, including the procedures, legal requirements and peculiarities of this process.
Identification of heirs
One of the main features of business succession is the identification of heirs. According to Ukrainian law, heirs may be both individuals (individual entrepreneurs) and legal entities (companies, corporations, etc.) that have the right to inherit property, including enterprises and businesses.
Inheritance procedure
The procedure for inheriting a business in Ukraine is subject to certain legal requirements. The heir must file an application for inheritance with a local notary or a court, which includes the name of the deceased, a description of the property to be inherited and other necessary information. The notary or court then decides on the inheritance, taking into account the law and the instructions of the will, if any.
Legal aspects of business inheritance
Business inheritance has its own legal aspects that require attention and a professional approach. In particular, this may include determining the legal status of the heirs, the distribution of corporate rights and obligations, the resolution of property disputes, and the consideration of tax aspects of business succession.
Peculiarities of business inheritance
The inheritance of businesses has its own peculiarities, as it may relate not only to property, but also to rights and obligations arising in connection with business activities. The main features of business succession include:
Complexity of assets: A business may own a variety of assets, including movable and immovable property, financial and intangible assets. The inheritance of such a complex set of assets requires careful analysis and valuation.
Legal obligations: Inheriting a business also means inheriting its legal obligations, including contracts, debts and other obligations to parties.
Tax and financial aspects: Inheriting a business may have tax and financial implications for the heirs, including taxation of inherited property and debt recovery.
The role of a lawyer in business succession
The role of a lawyer in business succession is to provide professional legal assistance and advice to the heirs. They analyse the legal status of the business, develop a succession strategy, represent the interests of the heirs in judicial and administrative proceedings, and assist in resolving disputes and conflicts that may arise in connection with the business succession process.
In summary, the succession of enterprises and businesses in Ukraine is a complex process that requires careful consideration of legal aspects and a professional approach.
Careful planning and competent legal support can help heirs to effectively manage the inherited property and ensure a successful business succession.
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