Why create a EURL
The EURL or sole proprietorship with limited liability is one of the types of company which gives a self-employed person the possibility of starting a professional activity on his own. It is a legal status for entrepreneurs who wish to conduct their business solo and independently. What are the advantages of creating a EURL?
Limited liability
Thanks to the limited liability of the sole shareholder, EURL offers protection of the personal assets of the entrepreneur. Thus, as a self-employed person, your status as a sole partner implies that your liability is limited to your contributions. In other words, you cannot lose more capital than you started with. This is particularly interesting when the company's resources are insufficient to pay your creditors. The EURL protects your personal assets in this case, in the same way as in a SASU. In addition, be aware that you can go through online providers to create a EURL.
Taxation of a EURL
Another advantage of a EURL is that the tax is only applied to the actual profit: it is the profit obtained after deduction of charges. These charges are linked to the costs and purchases essential for the proper functioning of the activity: bill payment, purchase of supplies, etc. Insofar as the business is subject to the normal VAT regime, it is also possible to charge VAT on its costs. In addition, the profits of the company are in principle subject to income tax. Therefore, in the event that a deficit is noted, it will be taken directly from the income of the tax household. This reduces the value of your personal tax. You can contact a legal professional to learn more about the tax interests of a EURL.
Operation of EURL
The sole proprietorship with limited liability operates in a clear and well-standardized manner. A parameter that attributes to the legal status the character of a protective organization. This is a company whose operation remains simple and secure. Compared to a SASU, it is certain that a EURL is better regulated. It even defines compliance with a standard for sales of shares. A formalism that is presented as a decisive criterion in the choice of a limited liability status.
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