Forms of medical business transfer in Ukraine
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In practice, the need to transfer a family business most often arises upon retirement of one of the physician parents and the onset of practice by his or her children. But there may be different situations that lead to the need to transfer ones’ business to someone in the family circle.
As with business structuring, the features of business transfer depend largely on organizational form.
Transfer of a medical business organized as an LLC, PE or other legal entity
This option is probably the simplest, since in most cases it is enough to change the founder and the head of the legal entity. You do not need to have any changes made to your license.
The only exception is when the business owner was also a hired employee. In such case, the MoH should be duly notified within 1 month of terminating the activity of such an employee or replacing such an employee with another specialist with the same expertise.
Transfer of the medical business organized as a sole trader
This option is relatively complex. And the bigger the business is , the more complex the process will be. For the sake of clarity, we will outline the key stages of a father and son example. For a complete transition, you need to:
- revoke a valid sole trader (for the father) license;
- register a new sole trader (for the son);
- dismiss employees hired by the sole trader (father);
- hire employees for the sole trader (the son);
- transfer all lease agreements (premises, equipment, etc.) to the son's sole trader;
- get a new act of sanitary examination of the son's sole trader;
- get a new sole trader’s license for the son;
- get the father's sole trader terminated.
The list of stages and their sequence may be different, it all depends on the specific situation.
Transfer of a business through inheritance
Separate consideration should be given to a medical business succession through inheritance.
Again, the procedure will depend on the form in which the business operates.
It will be necessary for the LLC to inherit the share in the charter capital; to carry out the necessary registration procedure. If the heir did not have a working relationship with the LLC as a healthcare professional, then no further action would be required.
There is another procedure for the transition of the medical business into an inheritance.
From the moment of inheritance, the heir has a month to renew the license for himself. Before applying, you need to have time to register an entrepreneur. The statement is accompanied by documents confirming the fact of inheritance.
In addition, a sole trader must get all employment contracts with the employees, the lease agreement for the premises, etc., transferred to him/herself.
Family medical business often poses a question of its transfer. Depending on the grounds for transfer and the business’ organisational form, the process will have its nuances.
Our lawyers will be able to help you understand each case and quickly handle the issue of transferring a family or affiliate healthcare business.Additionally, you can find the necessary information about getting a medical license, registration or liquidation of a medical business on our portal.