Does the change in legal type of the entity from establishment to Sole Proprietorship LLC where the new owner is continuing with the same license number invoke deregistration obligation of existing TRN? Will the above change require that new registration should be obtained for updated license? Kindly note that owner has changed in the above scenario.

SAJITH N02/02/2023 16:45:18

FTA is insisting on fresh registration of the LLC license. This is due to the fact that FTA considers Sole Establishments as Natural person and LLC as a Legal Person and they do not permit change in legal type (based on even recent similar cases). So would recommend to get the LLC registered separately and the Sole Establishment de-registered if the owner does not carry on any other business in their capacity as a Natural Person.

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