Business Organisations Incorporated Abroad Or Operating Abroad | GOALGOOLE | Because you need Information for your goals !
7023 Bole Kifle Ketema, Addis Ababa, Ethiopia
0116616179/85 mcc@ethionet.et

Business Organisations Incorporated Abroad Or Operating Abroad

TITLE IX BUSINESS ORGANISATIONS INCORPORATED ABROAD OR OPERATING ABROAD

Art. 555. – Finns incorporated abroad having their head office in Ethiopia.

    Finns incorporated abroad and whose head office or principal place of business is in Ethiopia shall be subject to all, the provisions of this Code and regulations made there under, including provisions relating to memoranda of association.

Art. 556. – Firms incorporated abroad having a subsidiary office or branches in Ethiopia.

1.    Firms incorporated abroad and which have subsidiary offices or branches in Ethiopia, with permanent representation, shall be subject in respect of each office or branch to the provisions of this Code relating to deposit and publication of the memorandum of association and publication of balance sheets.
2.    Such firms shall publish the names of persons representing them permanently in Ethiopia, and shall furnish their signatures.
3.    Such firms shall be subject as regards their branches or subsidiaries to the provisions governing the operation of the enterprise and imposing special conditions.

Art. 557. – Foreign firms which differ from the forms of Ethiopian business organizations.

    Finns incorporated abroad, which differ from those provided for and covered by this Code, shall be subject to those provisions of this Code concerning share companies, which relate to the publication of the acts of the firm and the liability of directors.

Art. 558. – Liability arising out of failure to comply with requirements.

     Persons acting in the name of the firm who have not -plied with the  provisions of Art. 555-557 inclusive shall in full be jointly and severally liable in respect of the firm’s undertakings.

Art. 559. – Finns incorporated in Ethiopia and operating abroad.

    The provisions of Ethiopian laws shall apply to firms which are incorporated in Ethiopia for the purpose of business activity abroad.

Art. 560. – Firms in which foreign interests are represented.

    Nothing in this Code shall affect the provision of special prohibiting, 01′ subjecting to special conditions, the exercise of certain activities by firms  in which foreign interests are represented.