Partners in a limited liability company – how many partners can there be?
Usually, partners in a Ltd often ask our business advisors how many partners together can register one company. If €50 is the minimum amount of capital to be contributed by one member and €7,500 is the minimum amount of capital, then mathematically we could conclude that 150 individuals can set up Ltd. However, this is not the case. Why not? To be sure, if you would like to set up a Ltd, you can do it with us here at DATA! If you want to know more, don’t hesitate to call us on +386 40 530 718 (Viber/WhatsApp). Or send us an email at data@data.si.
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Partners in a Ltd – what does the Companies Act (ZGD-1) say?
In essence, the Companies Act (ZGD-1) provides that a company may have a maximum of 50 members. More than that only with the permission of the Ministry of Economy. Each shareholder can contribute one share capital at the time of incorporation and can have only one share in the business. Every EUR 50 of the basic contribution gives a shareholder one vote.
Social contract of association to form the company
Moreover, the social contract of association is drawn up either in Vem form or in the form of a notarial deed. However, in the case of registration of the company at the DATA point, the contract needs to be in VEM form and is an elementary contract which does not contain specific articles defining the specific relations between the partners. With this in mind, in the case of a Ltd, if you wish to put specific articles in the articles of the contract, you must do it in notarial form. In short, only a notary can put specific articles in the contract.
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What must be in the contract?
The contract must contain several things. To enumerate:
- name and surname and the residence or business name and registered office of each partner,
- the name, registered office and main activity of the company,
- the amount of the share capital and of each share capital contribution, the name of the shareholder for each
- name and surname of the representative(s) of the company,
- e-mail address of the company, which will be made public,
- the additional activities of the company.
In short, the contract includes the basic information of the company.
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What do the shareholders decide in a Ltd?
According to the ZGD-1, the partners in a ltd and/or the members of a company decide on:
- the adoption of the annual report and the use of the balance sheet profit;
- the request for the payment of share capital;
- the return of contributions;
- the division and termination of shares;
- the appointment and removal of managers;
- measures to review and supervise the work of the managers;
- the appointment of a proxy and a business agent;
- the enforcement of claims by the company against the managers or members for damages
- represent the company in legal cases against the managers; and
- other matters that are subject to this Law or in the contract.
Owing to these points, we want to ask if you are you ready for a business success? Do you have any additional questions? In reality, we can be with you before and after the registration! Just contact us and ask anything you have trouble with!
Get advice from DATA!
Summing up, we suggest you get professional advice from our experts! We provide a wide range of business, legal, and tax services! DATA has rich experience of more than 30 years. Our principles of loyalty and dedication helps a lot of businesses grow in Slovenia! So, do you want to be one of them? Contact us and start your company registration process today! Without a doubt, we will be happy to guide you! Last but not least, if you want to follow our work, please visit our Facebook and LinkedIn pages.
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