Minimum share capital of Ltd set at MDL 30 thousand

The share capital of the Limited Liability Companies (Ltd) must constitute at least MDL 30 thousand. This stipulation is included in the Bill on Ltd, which passed the first reading on Friday, February 9. According to the draft law, the companies created until the law entered into force, are obliged to adjust their share capital within 3 years. In the first year the share capital must constitute at least MDL 10 thousand, in the second year – MDL 20 thousand and in the third year – at least MDL 30 thousand. This provision stirred the most of the debates. Minister of Economy and Commerce Igor Dodon said that when this provision was included in the draft it was taken into consideration the fact that the average share capital of registered Ltd constitutes MDL 24 thousand. According to him, in the EU member countries, the amount of the average share capital is EUR 8.5 thousand and Moldova must comply with the European acquis. The communist MP Valeriu Calamtui said the faction he represents considers that the project will stabilise the legislative framework in this field, mentioning that it is already obsolete. The increase of the share capital will allow entrepreneurs to perform efficiently their activity, given that the law allows increasing the share capital within 3 years. In turn, the democrat MP Vladimir Filat said that the increase of the share capital is a request that must be financially justified, especially now, when the citizens were forced to give up entrepreneur patents and must be stimulated to register an enterprise. MP of “Moldova Noastra” Alliance Alexdru Oleinic said that the draft aims at contributing to the revenues of the state budget on the account of entrepreneurs’ money. “We can not allow laws like this to be passed, because they have a negative effect over the citizens who did not leave the country and who are contributing to the development of the national economy”, he said. If the bill will pass the second reading, it will be enacted within 3 months. About 55 thousand Ltd with the total share capital of MDL 13 bln are registered in Moldova at present. The minimum share capital constitutes MDL 5400.