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What documents are required to sell a business
When planning to sell a business, it is important to prepare several key documents. They ensure the legality of the transaction, the protection of the interests of both parties, the correctness of the registration of all significant aspects. This is a contract of sale and not only. It is worth understanding it in detail. Reliable business broker WebsiteClosers for you.
Selling a ready-made business from scratch
Figuring out how to sell a ready-made business from scratch documents need to be prepared in advance. It is necessary to fulfill important steps. You will need the following documents:
- Founding documents.
- Financial documentation.
- Documents that confirm the rights to property, intellectual property.
Personnel documents, documents on debts, liabilities will also be required. Professional lawyers, accountants often help in the preparation of the necessary documentation. So the transaction will go as smoothly as possible, without risks.
Business with debts
It is important to know what documents are needed to sell a business with debts and here it is worth highlighting the main ones. Here is a list of documents. which may be required to sell a business with debts:
- Constituent and registration documents.
- Financial documentation.
- Documents that confirm debts and liabilities.
You also need personnel documents, intellectual property documents, purchase and sale agreement, and acceptance certificates. Selling a business with debts, it is important to get advice from lawyers, accountants. So it will be possible to minimize the risks for both parties. This will help in the correct execution of documents. You will be sure that the transaction complies with the law.
Documents for the tax authorities
If it is planned to sell a business what documents are needed for the tax office is a relevant question for many people. Here it is important to provide several significant documents to properly formalize the change of owner, to comply with tax obligations. It will be required:
- notification of the change of the owner of the business;
- contract of sale and purchase of the business;
- a form on the state registration of changes.
You will also need copies of the founding documents, financial statements, documents that confirm the payment of taxes. Properly preparing and submitting documents to the tax inspection, it will be possible to avoid problems with the tax authorities Ensures the legality of the transaction.
Selling a business – execution of documents
An important process is the execution of documents for the sale of business and it includes the preparation, filing of various documents that ensure the legality of the transaction, protecting the interests of the seller and the buyer. In the process of selling a business, it is important to consider the different key stages, prepare the right documents. Here are some important points:
Before selling a business, it is worthwhile to carry out its assessment. So it will be possible to determine the market value, to establish a fair price for the transaction.
The main document that is formalized between the seller and the buyer is the contract of sale of the business. It includes the subject of the contract, the price of the business, payment terms, transfer of assets, debts, guarantees and liabilities.
If there are debt obligations to banks, other financial institutions, it is important to agree on the terms of sale, especially if there are loans that may require early repayment or restructuring of the debt.
If the business leases premises, it is important to notify the landlord of the sale of the business, transfer the lease agreement to the new owner.
Notarization of documents for the sale of a business is not mandatory, but in some cases it is useful, it is required under the terms of the contract, especially when it comes to the sale of shares in the company, the transfer of real estate, the conclusion of agreements where legal force is required.
