Today's Invest Guide : Conversion of sole proprietorship
Two ways to convert to a corporation :
1. investing fixed assets in spot commodities method
2. transfer and acquisition method
Investment in spot commodities method
An assessment of assets is very difficult
because the transaction does not involve cash.
The procedure is complicated and costly
as the assets must be investigated by an authorized appraisal and
assessment institution or court-appointed inspector.
Transfer and acquisition method
It refers to the comprehensive transfer of to the corporation.
The transfer can be conducted easily once a reasonable settlement price is established
so this method is preferable in practice.
Conversion procedure by business transfer
and acquisition transfer method
① Estimate value of net assets of individual business
② Determination of capital and incorporation
③ Conclusion of business transfer and acquisition contract, report of
incorporation and application for business registration
④ Settlement of accounts of individual business
⑤ Report of surtax and cessation of business
⑥ Follow-up measures including nominal transfer of real estate
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