ESTABLISHING A PRIVATE LIMITED COMPANY( P.L.C.) in ETHIOPIA

1. Prepare Memorandum of Association and Articles of Association.

The document can be prepared in Amharic and English but you might be asked to provide the Amharic version on District level. Take a closer look at the decision making part, specifically how much percentage is considered to be majority because when you change your address, increase your capital or any other major company decision, you will need to prepare a minutes that will be authenticated by Document Authentication & Registration Office. And unless the majority of the shareholders agree and present themselves in person at Document Authentication & Registration Office, your minutes will not be authenticated.

2. Check the company name.

You will take the draft Memorandum of Association and Article of Association to Ministry of Trade located next to Development bank of Ethiopia. There, they will check if there is any other company which resembles your company’s name and they will either tell you to change your company’s name or it will be accepted. If it’s accepted, they will give you permission to take memorandum of association and article of association to ministry of Document Authentication & Registration Office.

3. Authenticate your documents at Document Authentication & Registration Office.

Though there are many DARO office scattered around Addis Ababa, the only branch that deals with forming a company is the one located at Chelelek ALSAM Tower, around Ethiopian Commodity Exchange (ECX), located on the way from Mexico Square to Lideta / Tor Hayloch. After that, your documents will either be accepted and you and the share holders will be asked to present themselves in person or their legal representatives with a renewed ID Card or Passport. Now you have your PLC and you can now start the process to get a license.

PRE-NUPTIALS FROM...

Planning a wedding is exciting: there are florists to interview, caterers to book, and photographers to hire. But before you sign that marriage license, consider adding one more important item to your pre-wedding to-do list: a prenuptial agreement, commonly known as a prenup. It’s not the most romantic notion, but a little planning now could possibly save you major headaches later.

But a prenup is not always about protecting one’s financial interests. Here are 10 less common—but potentially still very important—items that it might also behoove you to address in writing before walking down the aisle.

Social media

Social media lets you share everything—the good, the bad, and the ugly—with virtual “friends.” But what if one spouse doesn’t want such personal details floating about? The social media prenup outlines the boundaries of what may or may not be posted on social media during a marriage.

The agreement provides further protection in the event of divorce. Cyberstalking, particularly common among the recently estranged or divorced, is an invasion of privacy. A prenup can stop this before it begins.

Pet custody

Unlike children, pets are considered property and are subject to equitable distribution. A prenuptial agreement lays out in advance who will retain custody of the couples' beloved pup, kitten, parrot, or other pets.”

Ending the marriage

The prenup can specify what the end of the marriage will be—even before it begins. Most people think it is obvious. But the end of the marriage could be the filing of the Complaint for divorce, the execution of a Separation or Final Settlement Agreement, or simply written notice to the other party as to the intention of that party to terminate the marriage.

Drug testing

Per their prenuptial agreement, a divorce would pay Keith Urban $640,000 of Nicole Kidman’s money for every year they were married—but only if he promises never to use drugs again. In cases where there has been a history of drug or alcohol abuse, the prenuptial agreement may provide for daily, weekly, monthly, or random drug testing. Sanctions for failing the test can include economic ‘fines’ or a mandatory return to counseling or a rehabilitation facility.

Weight control

Some prenuptial agreements specify a certain weight or fitness range within which one or both spouses must remain. There is generally an economic penalty for failure to remain within the specified range.

Tony Romo reportedly wanted a “fat clause” in his prenup with Jessica Simpson. Romo claimed he would leave the singer if she put on too much weight, and she’d have to pay him $500,000 of her own money for every pound she gained over 135 pounds. Good thing they never married.

Debt allocation

You love everything about your intended except those outrageous credit card bills. If you’re marrying someone who carries a lot of debt, protect your financial future with a prenuptial clause. Make it so that only a certain percentage of your spouse’s debt can be allocated to you, and that previous debt is the sole responsibility of the person who accrued it.

Advance healthcare directive

A living will, or personal health directive, is a legal document that specifies what actions will be taken for a person’s health if he or she is no longer able to make decisions because of illness or incapacity. In a blended family, who has the last say? spouse or children? This is a question best answered prior to the I-dos.

Dates and vacations

Mark Zuckerberg and Priscilla Chan have not disclosed whether or not they have a prenuptial agreement. The couple does admit, however, that they had a “contract” while dating that stated they would have at least one night out together every week. Not only can the frequency—weekly, monthly, bi-monthly—for an obligatory date night be defined, but the duration as well. Similarly, a certain amount of time each year can be set aside for family or couples vacations.

Sexual health

The ‘performance’ requirement can range from once nightly to once monthly or anywhere in between,” she says. Particular sexual preferences can be included as well.

Sexual history can be just as important as sexual future. Some couples include STD testing as a component of their prenup.

Whatever is important to you

Other categories can include how often the couple will see their in-laws, how holidays will be shared or celebrated, or even how often a spouse can watch sporting events during a particular season or weekend.

In all cases, there are consequences for failing to fulfill the requirements set forth in the prenuptial agreement. While the sanctions generally are economic in nature and can be quite costly, some can void the agreement in its entirety. Thus, no matter how bizarre the terms may be, the parties should enter the agreement knowingly and with the understanding that the agreement is binding and enforceable!!! That is what matters!