The new company law… What does this mean for you?
As of 1 May 2019, a new code of companies and associations has entered into force. A few highlights….
What will change now?
The number of legal forms will be reduced to 4 (Private Company, Public Limited Company, Cooperative Company and the Company).
For the new companies to be incorporated, the amendment will take effect from 1 May 2019. For existing companies, a transitional period is provided for and the new BER will apply as from 1 January 2020 for the mandatory provisions, unless previously applied (opt-in). The articles of association must be amended before 31/12/2023.
Minimum capital requirement will be abolished but do not forget the importance of the financial plan showing your capital requirement.
The NV can have one shareholder
Greater freedom in the voting rights regime per share