Initial capital for business registration – cash or fixed assets?
Many people ask us if they can open an Ltd without capital. The short answer is yes. However, you cannot do that at DATA, but you need to go to a notary. You wonder what is the difference? When you want to invest fixed assets (machinery, real estate etc.), you must do it with a notary. In addition, you need to pay for the forensics who will assess the value of the fixed assets. In other case, the capital for business registration must be in cash only if you want to register it at DATA. And guess what? It does not cost anything!
What are the conditions to register at DATA point?
Let’s assume that you decide to register your business at a DATA point. To emphasize again, the capital for business registration must be in cash. Therefore, what are the main conditions?
- The future partners and representatives of the company must be present in person during the registration process. They will need a valid identity document for the procedure.
- You need to pay the initial capital for business registration in cash. The minimum amount is €7,500.
- A statement from the owner of the building for the business address, if the business address of the Ltd. will be at a location of which none of the partners or representatives of the company is the owner.
It is not complex at all. With a little bit of preparation, the entire registration procedure can be very smooth.
Capital for business registration – whose money is the capital after the registration?
How does the process of registration look like? Firstly, the DATA clerk prepares all the necessary documentation for the incorporation of the Ltd. You sign it. Then, the clerk will give you the documents to open a temporary account at the bank. After you open a temporary account there, you deposit or transfer the capital of at least €7,500.00. You hand in the receipt to our clerk, which sends the registration to the court. In best case, the company will be ready in a week. After that, you can change your temporary bank account into a business one. From that moment on, the capital is the property of the company and you can use it for your business activities. Can you withdraw the capital? What if a partner leaves the company? What about the name of the company? Ask us anything at email@example.com and schedule a meeting with our advisors!
Start your adventure with DATA!
Summing up, do you find this helpful? Are you and your partners ready for the business registration? Don’t wait! At DATA we will be glad to help you register and grow your business! We do that for 30 years and we have only one goal in mind all the time. Above all, to make our clients happy! Our professional business, tax, and legal experts will do a great job before and after you register your company. Don’t hesitate! Just contact us and get all the information you need! Last but not least, if you want to follow our work on social media, please visit our Facebook and LinkedIn pages.