Only some businesses can change their structure. The most common change of business structure is from a sole proprietorship to a limited liability company. It is important to note that an LLC cannot change its business structure because of the limitations put on foreign ownership. If the partners of an LLC want to restructure their company by selling their shares to a single owner and forming a sole proprietorship, they will need to cancel the original trade licence and start the business set up process from the beginning.
The procedures and documents needed for changing from a sole proprietorship to an LLC or other structure are the same as starting a new business. The outcome however, will not be a new trade licence but a modified one.