Social Contract (SS)
Form - written with officially verified signatures (SS may also be concluded by an agent with a written power of attorney with officially verified signature of the principal - he / she will join the SS)
Essentials:
- Firm and registered office - firm with a mandatory supplement (see above)
- Partners - firm or name and registered office of natural persons (ID) or name and domicile of natural person (personal ID)
- Scope of business - within the limits of § 2/1
- Signatures
Establishment of v.o.s .:
- Social contract
- Before the filing of an application for registration in the Commercial Register, the partners must be authorized to exercise business activity (the founders have to prove the trade, the foundation of the v.o.s and set up a competent responsible representative for the performance of the trade, the company will get a trade license on the day it is created itself), v.o.s. can also be established for the purpose of pursuing the free professions = business whose performance is by law only allowed to natural persons (can only be done by persons authorized to do so, §56 / 3)
- The v.o.s. is established by the day on which it was registered in the Commercial Register - the proposal is signed by all partners, social contract is attached (+ documents certifying the data entered in the Commercial Register - §28 / 1.2). In case that the application is not filed 90 days from the founding of the v.o.s. or from the delivery of the trade licence or other authorization, it is no longer possible to file an application for registration.
