Founding a Joint-stock Company
A Joint-stock Company (or JSC in short) is one of the globally regulated forms of incorporation.
Founding a JSC is completed through the following steps:
I.Appointment of the owners of shares (shareholders)
To begin the procedure of the company formation the following persons are required to provide identification documents in the original:
The founders of the company accept an agreement on the following provisions:
- Company name (3 options of the name: the main name and 2 replacements in case the main name is already taken);
- The shared capital, which will be introduced at the registration of the company;;
- A legal address or lease of such; the rental offers, as well as the details of the virtual office lease case be found here;
- Other special conditions specified in the statutory documents(e.g. ow transactions will occur with shares or how decisions are made at the annual shareholders' meeting).
II.Registering the Joint-stock Company
Drawing up a statutory contract on the basis of identification documents for filing an application with the National Registration Chamber and obtaining the status of a joint-stock company; more information is available here;
Submitting the application for JSC registration;
The VirtualOffice team performs the process of establishing the company within 3 days, or, on-demand, in an emergency mode within 4 hours.
On the basis of an invitation issued by the NRC, it is necessary to have the physical presence of the administrator and the founders of the company in the registration chamber for signing the contract, obtaining the statutory documents in the original and wet printing on all documentation.
Information: for storing the originals of all statutory documents in the safe, registration of notarized copies is required. In structures whose processes require the provision of original documents, certified copies will be used (for example, a copy of the documents is required when registering with the National Commission for the Financial Market); more information available here.
Information: The joint-stock company is responsible for obtaining permits, licenses necessary for economic activity and registration in state institutions in accordance with legislation (National Bureau of Statistics, CNAS, CNAM, FISC).
Within 24 hours after the registration and receipt of the fiscal code, the NRC transfers all the data on the newly registered company to the State Tax Inspectorate.
III.Opening a bank account
You can open a bank account in the representative office of any commercial bank of the Republic of Moldova. The list of banks registered in the Republic of Moldova can be found here.
An application for opening an account is submitted by the administrator together with the submission of originals of the statutory documents, as well as identification documents of the shareholders.
The application is considered within 3 working days, while the Tax Inspectorate accepts a registered account.
IV.Hiring an independent registrar
Following this, an independent registar monitors the shareholder’s log for submission to the NCFM; more information is available here.
V.Registering securities in the National Commission for the Financial Market
After activating the bank account, the shareholders transfer the authorized capital to the account of the joint-stock company and request the confirmation certificates in the bank in which the shareholder and the amount of capital contributed by him (this certificate is required by the NCFM) is indicated; more information is available here.
Within 15 days from the moment of registration of JSC in state bodies, the administrator submits an application with the attached documents specified in article # 38 of the law on joint-stock companies. After reviewing the documents by the National Commission, if there were no violations of norms and requirements, a decision is issued to register the securities and assign them a state number.
Simultaneously with the receipt by the shareholders of the certificate of securities registration, a copy of the certificate, together with the list of shareholders and a certificate of the NCFM, is submitted to the private register, where a contract was signed to form a list of shareholders and confirm the list of registered shareholders.
Thus, the Joint Stock Company is finally considered to be registered and will in the future form the reporting according to the current legislation.
For any questions about the formation of an JSC or a firm with any other legal form, you can contact us at this link.
We wish you success in business