What happens to my employees, contracts and accounts after an Eorly takeover?

When you take ownership of your Eorly entity, the legal entity remains the same. This means your employees can continue working under their existing employment contracts, without needing to move to a new employer.

However, some administrative updates will be required to reflect the change in ownership.

What happens to my employees and their contracts?

Your employees remain employed by the same legal entity, so their existing employment contracts stay in place. Their employment terms and recognised length of service are not affected by the ownership transfer.

What happens to the entity's bank account?

The entity's existing local bank account remains with the company after the takeover. However, the bank will need to update its records to reflect the new ownership and authorised signatories. This may involve additional Know Your Customer (KYC) and business verification checks.

Will the entity's IBAN change?

Because the bank account belongs to the legal entity, the existing IBAN may remain in place following the ownership transfer, subject to the bank's verification and approval requirements.

What happens to my Eorly services?

Following the takeover, you'll assume responsibility for the entity as its new owner. If you need continued support with corporate administration and compliance, Native Teams can provide these services through Great Standing.

Any questions? Feel free to contact support at support@nteams.com.