Lipetsk lawyers spoke about the intricacies of individual entrepreneurship

The hosts of the program “Your Right” on “Lipetsk Time”, Candidate of Legal Sciences, Associate Professor of the Department of Civil Law and Procedure Elena Kremneva and Candidate of Legal Sciences, Head of the Department of Civil Law and Process of the Lipetsk Branch of RANEPA Maria Batova spoke about the most common issues that are closely related to individual entrepreneurship.

According to lawyers, the President of the Russian Federation and the Government of the Lipetsk Region are increasingly talking about the development of small and medium-sized businesses. New grants, subsidies, projects, and various support measures are appearing. Registering an individual entrepreneur is a great way to start your own business and earn money.

“It’s very easy to become an individual entrepreneur, as well as to give up this status. An individual entrepreneur has the right to hire employees – he has a current account, reporting, he pays taxes and contributions to the pension fund,” experts shared their knowledge.

Before becoming an individual entrepreneur, you need to understand what type of activity you will carry out. Next, he submits an application in accordance with the classifier of activities, and then decides on the taxation system. Then the citizen goes to the bank, or to the MFC, or to lawyers to prepare documents for registration.

“Now banks provide a service where when you submit documents through them, they immediately open a current account for you. As soon as you register, you receive documents on registration of individual entrepreneurs,” added the presenters of the program.

Lawyers warned that the individual entrepreneur is liable with his property. Everything that is registered on him, as on an individual, can subsequently become security for obligations to counterparties in the event of debts.

“If we have an individual entrepreneur in a marriage, and the property is registered not in his name, but in the name of the spouse, then the debts of the entrepreneur may be imposed on half of the property that is registered in the spouse’s name. In the future, all this property can be forcibly sold,” experts said about the legal intricacies.

The property of an individual entrepreneur is essentially his property as an individual. The spouse can claim the money that is in the individual entrepreneur’s account, but it is important to remember that not all funds are profit.

“When the owner of an LLC dies, a manager is appointed for a period of 6 months and the activities of the organization continue. But when an individual entrepreneur dies, then, in essence, everything stops – there is no one to fulfill obligations,” the lawyers concluded.