What are corporate transformations?

Corporate transformations are defined as the processes by which the status of a corporate entity is changed, without usually resolving and liquidating or transferring its assets under the rules of succession.

In how many categories are corporate transformations divided?

There are three (3) basic categories of corporate transformations:

  1. Merger (two or more companies merge into one, while the mergers are liquidated without liquidation),
  2. Split (the act of universal succession transfer of the property of a company dissolved without liquidation to at least two companies)
  3. Conversion (the act of changing the corporate form of a company without preceding its dissolution and without any succession to its assets).

What businesses can use corporate transformation?

According to the new Greek Law 4601/2019, the general rule is that everyone can be merged with everyone, everyone can absorb everyone, everyone can be divided into everyone and everyone can be transformed into everyone.

The exceptions are: corporate forms that lack legal personality, maritime-shipping companies and agricultural cooperatives.

Why corporate transformations are useful?

Corporate transformations give growth opportunities to businesses who choose to do so. The reasons vary and depend on the category of transformation that will take place. The main benefits are business reorganization, economies of scale and tax advantages.

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