Společnost s ručením omezeným
Společnost s ručením omezeným , abbreviated sro , is the Czech name for the legal form of limited liability company in the Czech Republic , German limited liability company .
The Company may, based on a Memorandum by a person ( natural person or legal entity ) or terminated by more than one person social contract be established. A single- member limited company cannot become the sole shareholder of another limited company or form such a company. Both the deed of incorporation and the articles of association must be authenticated by a notary . The founding document also specifies whether the limited liability company establishes articles of association.
The amount of the share capital of the company has since January 1, 2014 at least 1, - CZK , respectively. Until then, 200,000 crowns were needed. Contributions in kind must be made in the commercial register before the company is registered . The deed of incorporation or the articles of association must specify the contributions in kind. Their value is determined on the basis of an opinion by an independent expert appointed by the court for this purpose. At least 30% of the financial contributions must be paid in prior to entry in the commercial register. If the company is founded by a single person, the share capital must have been paid in full prior to entry in the commercial register.
The limited liability company does not have a board of directors . The company is represented by one or more managing directors. Their number is not restricted by law. The managing director is appointed by the shareholders 'meeting, the supreme body of the company or the sole shareholder who exercises the effectiveness of a shareholders ' meeting. Each managing director represents the company independently, unless otherwise stipulated in the deed of incorporation or in the articles of association. The law does not stipulate any obligation for companies with limited liability to set up a supervisory board; however, a supervisory board can be appointed on the basis of the deed of incorporation or the articles of association. The supervisory board consists of at least three members elected by the shareholders' meeting.
See also
- spoločnosť s ručením obmedzeným (Slovakia)
Web links
- Information about sro and company formation on the businessinfo.cz website of the Czech Ministry of Industry and Trade