Article 85 of Companies Law

For the purposes of applying the provisions of this Law, a single-person company means every enterprise whose capital is owned entirely by one natural or legal person. The owner of the company shall be liable for its obligations only to the extent of the capital allocated to the company. If the ownership of the shares in the company's capital becomes vested in more than one owner, for any reason whatsoever, it shall be converted by operation of law into a limited liability company.