Change in company form
Sole proprietorship changed to a limited liability company
The entrepreneur is still insured under YEL if he/she owns more than 30% of the company’s shares alone or more than 50% together with family members.
Sole proprietorship changed to general partnership
Partners who work in a general partnership are insured under YEL.
Sole proprietorship changed to a limited partnership
An active partner is insured under YEL.
A limited partnership or general partnership is changed to a limited liability company
A shareholder in an executive position in a limited liability company who alone owns more than 30% or together with family members owns more than 50% of the share capital or voting rights is insured under YEL.
A partner in a limited partnership or general partnership who continues the operations as a sole proprietor is insured under YEL if the conditions for YEL insurance are met (earned income is estimated to be EUR 7,645.25 or more annually).
The change in company form might also affect the insurance of the company’s employees. Read about TyEL insurance for employees here.