I. A sole trader represents:
A sole trader represents:
- A person, who, as an occupation, performs any of the commercial activities defined by the Law on Commercial Companies;
- The individual trader is liable for his obligations personally and unlimitedly with all his property;
- Any business-capable physical person with a permanent place of residence in the Republic of North Macedonia can be registered as an individual trader in the commercial register.
II. Person cannot be registered as a sole trader:
- over which bankruptcy proceedings have been opened,
- A person who, by a final decision of the court, has been determined to have intentionally caused bankruptcy, due to which the creditors could not collect their claims while the ban on performing the activity established by the court decision lasts and
- a person who has been prohibited by a competent authority, on the basis of law, from performing any of the activities defined by this law, while the prohibition lasts
III.Risks
- The person is liable with all his property. As an individual trader, in case of any indebtedness and failure to pay the same, the owner is liable with his personal private property.
- In the event of any irregularity in the operation, or obtained judicial enforcement judgment, the state institutions can collect from the personal private property of the owner.
