Most present-day companies (S.A.) will have to be "transformed" into SRL's (LLC's) or EIRL's. This does NOT entail the creation of a new company, just making a publication in the papers, drawing up a mid-year financial statement and holding a shareholders' meeting.
There will be no need to change bank accounts, titles or anything else. The company will be same except that instead of being called "My Business, S.A." now it will be called "My Business, S.R.L." or "My Business, E.I.R.L." Also, there will be no need any longer for nominee shareholders and directors.
I'm part of the team working on the new company forms for bylaws, etc. We're holding a seminar on the new company law at the Banco Central Auditorium on Saturday, Jan. 31, beginning at 8:30 a.m. A similar seminar will be held in Santiago on Saturday, Feb. 21, at the PUCMM. You should advise your lawyers to attend.
Last edited by Fabio J. Guzman; 01-25-2009 at 04:27 PM..
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