Can the Owner of a Private Enterprise also be the Owner of a Household Business?

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Currently, I am the owner of a household business, and now I wish to simultaneously be the owner of a private enterprise. Is this permissible? Please provide clarification.

According to Article 183 of the Law on Enterprises 2014, regulations regarding private enterprises are as follows:

- A private enterprise is an enterprise owned by an individual who is solely responsible for all activities of the enterprise with all their assets.

- Private enterprises are not allowed to issue any type of securities.

- Each individual is only allowed to establish one private enterprise. The owner of a private enterprise cannot concurrently be the owner of a business household or a member of a partnership company.

- Private enterprises are not allowed to contribute capital to establish or purchase shares, capital contributions in a partnership company, limited liability company, or joint-stock company.

Thus, based on the above regulations, the owner of a private enterprise cannot concurrently be the owner of a business household. Therefore, if you are currently the owner of a business household, you cannot be the owner of a private enterprise.

Respectfully!

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