Selling a Business

All business sales must be approved by the State.

Procedure for Selling a Business

  1. Notify the state regarding your intention to divest your business. The price of the business will be decided in these discussions.

  2. Promote the sale of your business through strategic advertising methods.

  3. Upon identifying a prospective buyer, engage in communication with the state to initiate the process of transferring ownership.

  4. Following the approval of the sale, facilitate the payment transaction and effectuate the transfer of ownership.

All debts the business holds will be transferred with the sale of the business, and the new owner will assume responsibility of all debts.

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