WITHDRAWAL OF PARTICIPANT, CHANGE OF FOUNDER OF A LIMITED LIABILITY COMPANY

Withdrawal of a participant from LLC: what it is, who has the right, how it happens
The withdrawal of a participant from an LLC means the termination of his participation in the company. The procedure is not complicated, but it requires proper preparation of documents and their submission to the appropriate state body. The optimal solution is to seek help from professionals, especially since the cost of such services in Ukraine is affordable.

Who has the right to withdraw from the LLC

It is important to understand what is hidden under the concept of withdrawal of a participant from the LLC. Sometimes this procedure is compared to the sale by a participant of his share, believing that if a participant withdraws from the LLC, everything is identical. In reality, there is a difference.

According to the Law of Ukraine “On Limited Liability Companies and Additional Liability Companies” there are two types of withdrawal of a participant from the LLC depending on the size of the participant’s share in the authorized capital of the company:

• without the consent of the other participants;
• with the obligatory consent of the other participants.

If a participant owns less than 50% of the LLC authorized capital, there is no need to obtain consent of other participants of the LLC for his withdrawal. If the participant owns 50% of the authorized capital or more, it will be necessary to obtain the consent of the other participants of the LLC for his withdrawal.

In turn, the sale of a share implies the purchase of a part that belongs to a particular participant by another person. In this case, the other participants of the LLC have the preemptive right to buy the share. It is appropriate to offer third parties to buy a share only after the refusal of other LLC members.

Important! After a participant withdraws from an LLC, at least one participant must remain in that LLC.

Procedure for withdrawal of a participant from LLC
It is important that the procedure is carried out step by step in accordance with the norms of Ukrainian legislation. The procedure of withdrawal from LLC consists of several stages.

1. At the first stage, it is necessary to check the possibility of withdrawal of a participant from the LLC. When checking, the charter of the LLC, the number of participants, and the need for the consent of the other participants are taken into account.
2. At the second stage, a participant who wants to withdraw from the LLC and owns less than 50 percent of the charter capital of the LLC shall draw up the necessary withdrawal application and submit it to the relevant state body. If, however, the participant owns a share of the authorized capital of the LLC in the amount of 50 or more percent, after drawing up the withdrawal application, he must first submit it to the LLC (in order to obtain approval of the withdrawal by the other participants).
3. At the third stage, after the participant has submitted the documents to the appropriate state authority, the state registration of the withdrawal of the participant from the LLC and the introduction of changes into the Unified State Register of legal entities, individual entrepreneurs and public formations takes place.

How do we work?
Our company “Gestoria Ukraine-Plus” offers a full range of services, if you need the withdrawal of the participant from the LLC. We work according to the algorithm:
• We check the possibility of withdrawal of a participant from the LLC;
• We prepare the necessary documents;
• We meet with the client;
• We accompany the client to the notary;
• We submit the necessary documents to the state body;
• Supervise the conduct of changes by the state registrar.

For such a service as the withdrawal of a member from the LLC, the price is not high. The price depends on a number of factors and is individual. Please contact our specialists for a calculation or consultation.

You can be confident in our competence and professionalism, as we have extensive experience, work quickly and competently. Turning to us, you will not have to think about the preparation of documents, appeal to state authorities to withdraw from the LLC. Still have questions? Contact our specialists right now.