Sole proprietor’s business transfer to any other physical person

From 8th of August 2015 on, sole proprietors in Slovenia can transfer their business to any other physical person. Previously, transfer of business was possible only to family members.

This ammendment of Companies Act is important, since it gives more freedom to entrepreneurs, who wish to transfer their business to other persons for various reasons. Entrepreneurs are free to transfer their individual assets or debt to other persons. But in majority of cases universal legal transfer of business rights and obligations under provisions of Companies Act is practical and simplier.

New provisions do not affect possibility to transfer business to new or existing corporation.

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