Hadi: Ketua hakim, peguam negara macam kera kena belacan
Sumber malaysiakini
How can entrepreneurs protect their personal wealth?
- 70% of business start-ups are registered as one-person businesses (and the owners of three quarters of those are classified as auto-entrepreneurs), while 30% of start-ups are registered as companies (most often as SARLs or private limited companies). In these circumstances the issue of how to protect one's personal assets is of great importance. Entrepreneurs who carry on their activity as a one-person business have a single set of assets which includes their professional and their personal assets without distinction.
- In the event of poor business or bankruptcy, auto-entrepreneurs, members of the accredited professions, artisans, traders and farmers have to meet their professional commitments out of all their assets (both professional and personal).
- It may be possible to get round this by signing a declaration of exemption from attachment, drafted by a notaire. With such a declaration, built and undeveloped land that is owned by the contractor but not used for its professional use (whether it is property, common property or even undivided property) becomes unseizable; That is to say they can no longer be seized (real estate, land, etc.). This exemption applies, however, only to professional creditors and only to debts arising after the publication of the declaration.
It should be noted that since the Macron law of August 6, 2015, the main residence of individual entrepreneurs is automatically rendered unseizable, without any particular procedure being required.
How can the entrepreneur's spouse be protected?
- Most couples hold their matrimonial assets under the French scheme known as the community of property ("communauté réduite aux acquêts). This statutory scheme is allocated by default to couples who do not sign any marriage contract. It is perfectly suitable for young couples who marry before they have built up any assets. However, in order to take account of changes in their situation, the law authorises them to change their matrimonial property regime after two years of marriage (which should be repealed in the first half of 2017), when the regime that they chose initially is no longer suitable. This will apply, for example, if one of them sets up a company.
- A property regime in which all the property is owned separately is often preferable in order to protect the family assets, facilitate the management of the company and ensure the continued existence of the means of production in the event of the couple separating. However, it may also appear to be a source of imbalance and injustice. The spouse who does not have a professional activity may be totally deprived of all assets in the event of separation or the death of the entrepreneur.
- You should discuss this question with your notaire in order to understand the impact of your choices and assess the appropriateness of changing your matrimonial regime .