5. Equity Capital
Equity capital consists of money and other assets expressed in monetary value that are contributed to a capital company for the commencement and continuation of its business activities.
Requirements:
- the amount of the equity capital is determined by multiplying the number of stocks by the nominal value of each stock;
- the equity capital and the nominal value of a stock must be divisible by the lowest nominal value of the company's stocks without remainder;
- the minimum amount of equity capital is EUR 25,000;
- the equity capital may be paid up only by cash contributions made by the founders;
- the equity capital must be paid in full before the registration application is submitted to the Register of Enterprises;
- when making a cash contribution, irrespective of the amount of the equity capital of the company being established, the founders shall open a payment account in the name of the company being established and arrange for the contribution to be paid into that account. If the cash contribution does not exceed EUR 50,000, the founders must certify in application form KR4 that a payment account has been opened in the name of the company being established and that the equity capital has been paid into that account. However, if the equity capital or a part thereof has been paid up in cash and the cash contributions exceed EUR 50,000, a statement issued by the payment service provider or another document evidencing payment of the equity capital shall be attached to the application;
- record the dematerialised stocks of the joint stock company in a central securities depository, if the company has dematerialised stocks.