AKMV Equity capital when establishing a temporary employment agency
QUESTION
Please provide me with information on whether a new limited liability company (s.r.o.) established in 2020, which does not have a registered share capital of EUR 30,000 in the Commercial Register, can submit an extraordinary financial statement to the Register of Financial Statements (prepared now, showing equity of EUR 30,000), and whether this will be sufficient to prove the required equity. Or, in the case of a new s.r.o. from 2020, do you strictly require that the registered share capital be in this amount?
ANSWER:
Fulfillment of the condition according to § 29 para. 3 letter f) of Act No. 5/2004 Coll. on Employment Services and on Amendments and Supplements to Certain Acts, as amended (hereinafter referred to as the “Employment Services Act”), is verified by the Central Office of Labour, Social Affairs and Family through the public part of the Register of Financial Statements in accordance with § 29 para. 5 of the Employment Services Act.
The Central Office will consider the condition fulfilled also in the case you mentioned; however, the equity must be in the amount of EUR 30,000, as required by the applicable legislation.
(Source: Central Office of Labour, Social Affairs and Family)
JUDr. Veronika Michalíková, MBA