Transformation of the legal person

Transformation of the legal person it is changeover of the legal form of the legal person, when the legal person of new legal form takes over whole activity of the transformed legal person, including rights and obligations prescribed by law.

Profit-making private legal persons may be transformed into a legal person of any other legal form. Public legal persons may be transformed only into a public legal person of another legal form.

At present public limited liability companies mostly are being transformed into private limited liability companies and individual enterprises mostly are being transformed into private limited liability companies