Administrative burdens associated with the establishment of the company shall be lowered
With the effectiveness from January 1, 2016 the Section 60 of the Commercial Code, which governs the administration of contribution prior to the creation of a company, shall be changed – the provision according to which
- the monetary contributions or their parts paid prior to the creation of the company are paid to a special independent account established in a bank by the administrator of the contribution, and which
- governs also the disposal with such monetary means on the account,
shall be deleted.
It means that the account statement that proves the payment of the monetary contributions or their portions shall not be required anymore to be attached to the petition on registration to the Commercial Registry. This represents the decrease of an administrative burdens associated with the establishment of the company.
Should you require further details or should you have any questions, please do not hesitate to contact us.