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Definition
Article 56
Any natural person possessing capacity whose domicile is in the country may register as a sole proprietor.
Restrictions
Article 57
Ineligible to be a sole proprietor shall be a person:
- 1.
- who is bankrupt and his rights have not been restored;
- 2.
- who has intentionally gone bankrupt and has left unsatisfied creditors.
- 3.
- who has been convicted for bankruptcy.
Registration
Article 58
- (1)
-
A sole proprietor shall be registered on the basis of an application which shall state:
- 1.
- the name, domicile, address and Unified Civil Code (EGN);
- 2.
- the trade name under which the activities shall be carried on;
- 3.
- the seat and the address of the registered office;
- 4.
- the purposes of the business.
- (2)
- A specimen of the merchant's signature and an affidavit stating that the person has not been deprived of the right to carry on commercial activities shall be attached to the application.
- (3)
- The data pursuant to para (1) shall be registered.
- (4)
- A person may register only one trade name as a sole proprietor.
Trade Name of Sole Proprietor
Article 59
A sole proprietor's trade name shall incorporate without abbreviation the person's given name and either the surname or patronymic by which he is generally known.
Transfer of Trade Name
Article 60
- (1)
- A sole proprietor's trade name may be transferred to a third party only together with his enterprise. The consent to transfer a trade name shall be given in accordance with Article 15, paragraph 1.
- (2)
- A sole proprietor's heirs, on acquiring the enterprise, shall be free to retain its trade name.
- (3)
- In cases under the preceding paragraphs the new owner's name shall be added to the trade name.
- (4)
- The transfer shall be registered in the commercial register and shall be published in the State Gazette.
Deletion from the Commercial Register
Article 60a
The entry of the sole proprietor from the commercial register shall be deleted:
- 1.
- in case of termination of his activity or establishment of a residence abroad - upon his written request to the court;
- 2.
- in case of his death - upon written request by his successors;
- 3.
- in case of his judicial disability - upon written request by the guardian or trustee.
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