Social contract of association
In this article we will explore what is social contract and how to prepare it. In essence, members of the company draft a Memorandum of Association in the company registration process. Do you know what? You can do that at our DATA point! But remember, the members must be here in person. Do you want to schedule a meeting? Just call us on +386 40 530 718 (Viber/WhatsApp) and start your process today!
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What is in the memorandum?
In essence, the memorandum needs to have the following information:
- the name and surname and the residence or business name and registered office of each member,
- name, registered office and main activity of the company,
- the amount of the share capital (also separate contributions),
- the name and surname of the representative(s) of the company,
- public contact e-mail address of the company,
- the additional activities of the company.
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Call us on +386 40 530 718 (Viber/WhatsApp)
Social contract is ready, how to continue?
So, once we complete the registration of the company with the resolutions and declarations, you need to make a provisional bank account. Why do you need that? Basically, you need that account to transfer the initial capital. Remember, if you want to register at DATA point, the capital must be in cash. Moreover, what documents you need for the bank? In essence, you need the memorandum, the resolution that appoints the representative and the resolution with your business address. After you transfer the capital, you will get a certificate, which you return to the DATA point. What follows, our referent will send the documents electronically to the registration court. On the condition that everything is in order, the company will be ready within a few days.
Can you amend the memorandum?
The simple answer is yes. You can amend the memorandum. You can do that at the DATA point. To emphasize, all members must sign the amendments. Again, the court must review the changes and reply with a decision. In general, you can change everything, from the name of the company, business activities, address etc.
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When can you not change it at DATA?
There are cases when you cannot change the memorandum at DATA. When is that? Basically, if the shareholders and the capital change, you need to go through the amendment procedures with a notary. The referents are not authorized to make these amendments. To clarify, it is important to remind the notary who makes those changes that the memorandum should remain in Vem form. This is because all other changes (other than changes to the members and capital) will be able to be made at the DATA point. Do you want to know more about business in Slovenia? Just contact us!
The contract is fundamental
To emphasize, the social contract defines the relations between members. Specific articles define specific relations other than the basic. To point out, only a notary can add special articles. To that end, everything remains in a notarial form. Future changes will be made by notary as well. Do you find this helpful? You can consult our lawyers before you begin the registration procedure! They can help you with the type of memorandum! Contact them at data@data.si for individual advice.
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