A SRL is the best preferred form small or medium companies may take in Moldova. A SRL it’s based on a minimum share capital of 5,400 MDL (about 356 EUR), divided into shares.
A limited liability company in Moldova cannot have more than 50 shareholders with limited liability according to their contribution at the capital and it’s based on the Constitutive Acts signed by the shareholders.
The first step in registering a limited liability company is to check the availability of the name at the State Chamber of Registration. If the name is available it will be reserved in behalf of the company.
The following documents must be registered at the State Registration Chamber: a standard application form, the minute of the founding general meeting, registration documents and the receipts of the minimum share capital payment and registration taxes.
The Articles of Incorporation of a Limited Liability company are containing the following information: the company name, the address, information regarding the founders, a list with the members of the management, the way of transformation and liquidation of the company, the amount of the share capital and the amount of each shareholder’s contribution.
At least 40% of the minimum share capital must be deposited into a temporary bank account (the rest of 60% must be deposited no longer than 6 months since the incorporation). The share capital is divided into parts with a value stated in the Articles of Association.
The temporary account must be transformed into a permanent bank account after the Certificate of Registration is issued. To do so, the company must submit the following documents: the incorporation documents, a copy of the certificate of registration, a bank proof with the name and address of the director, the notarized signature specimen.
After the registration at the State Chamber of Registration, the limited liability company will receive the following: the Certificate of registration, the company seal, the incorporation documents and the decision of the State Chamber of Registration.
Other authorities that must be informed regarding the opening of the new limited liability companies are the National Medical Insurance Company and the Social Security Fund.
The major decisions of a SRL are taken by the General Meeting of the Shareholders. They have the power to invest a manager (with role of execution) and an administrator. If there are more then 15 shareholders, than the company must have an auditor.