How to change the name of a company?
You may have really gone to the trouble of coming up with a name for your company, but now you need to change it. Maybe because the name contains the name of a partner who is no longer in your company. There are countless reasons to change your company name, but it's important to know that an owner can change their company name at any time. So how does changing the company name work?
CONVENING THE GENERAL MEETING AND NOTARIAL MINUTES
If you already know how you want to rename your company, you need to amend the incorporation document (memorandum or articles of association).
This change is voted on by the general meeting, which must be convened at a notary, who then draws up a record of the name change. On the basis of the notarial entry, the change of the company's name is recorded in the Commercial Register.
Which documents are necessary for the notarial deed?
- Extract from the company's commercial register, which must not be older than 3 months.
- The latest and complete version of the memorandum or articles of association of the company as filed in the collection of documents of the competent registry court.
- Resolution of the sole shareholder or draft resolution of the general meeting.
- Invitation to the General Meeting together with the proposed agenda.
- Identity cards of all partners. In the case of representation of one of the partners, a power of attorney with an officially certified signature is required; however, neither the managing director nor a member of the company's supervisory board can be an attorney.
- If one of the partners is a legal entity, he/she must have his/her extract from the commercial register.
All documents and papers must be submitted to the notary in the original or as certified copies no later than 5 working days before the date of the general meeting or the decision of the sole shareholder.
REGISTRATION IN THE COMMERCIAL REGISTER
Once you have the amended incorporation document in your hand, you can file a petition with the relevant registry court to register the change of the company's name in the Commercial Register. Until the registration of the new company name, your company will still operate under its original name.
The Registry Court is obliged to decide within 5 working days of the filing of the petition. However, a distinction must be made between the court's decision to allow registration and the actual execution of the registration. The court will not register the new name until the order granting registration has become final, which will be after the court has served the decision on the applicant.
THE COURT'S DECISION
IS NOT THE END OF YOUR ADMINISTRATION
A change of name may also be associated with a change of the company's registered office. You must also mark the registered office or place of business with the new name. The renaming of the company must be reflected on all business documents. Last but not least, you need to report the change to banks and business partners.
HOW MUCH DOES IT COST TO CHANGE THE NAME OF A COMPANY?
When changing the name, you pay a notary for the registration of the general meeting, then a court fee to the registry court and also for the registration in the commercial register. When you order a company name change from us, we take care of all the paperwork. The service costs CZK 9,650 excluding VAT and includes all the fees mentioned above.
WHAT IF THE COURT REJECTS THE NAME CHANGE?
In this case, the original name of your company remains. It is possible to apply again for a change of name in its modified form. First, however, you must convene a general meeting, amend the incorporation document with a notary and pay the notarial registration again. You then file a petition with the court and follow the steps described above.
SUMMARY: HOW TO CHANGE THE NAME OF AN LLC
To get a better idea of what you need to do to change your company name, follow these steps:
- Make a detailed research of already existing business companies (names) in the commercial register. The new business name must not be identical or interchangeable with another business name. Check the availability of your chosen name, for example, using the online tool on our website.
- Convene a general meeting and make changes to the founding document. The decision of the general meeting on the amendment must be adopted in the form of a notarial deed.
- File a petition to register the change of the company name in the Commercial Register.
- The Registry Court has 5 working days to decide whether to allow registration. If it approves the proposal, it enters the change in the Commercial Register after it becomes effective.
- Notify the institutions - the trade licensing office, the tax office, the cadastral office, the industrial property office, the social security administration and health insurance providers, or other competent authorities such as the data protection authority - of the name change.
- Provide notice of the new name to other entities you work with, especially banks, service providers and your business partners.
- Mark the registered office and, if applicable, the place of business with the newly created name.
- Don't forget to edit the company name on all business documents (orders, invoices, letterhead, stamps, etc.).
LEAVE THE ADMINISTRATION TO US
Changing the name of the company involves a number of administrative tasks. If you don't want to be delayed by them, write to us and we will handle the company changes for you. We will arrange both the notarial record of the general meeting and the registration of the changes in the Commercial Register.