I AND MY FRIEND WANT TO CONTRIBUTE CAPITAL TO START A COMPANY. PLEASE ADVISE US ABOUT THE ORDER AND PROCEDURES FOR MAKING CAPITAL CONTRIBUTION OF THE MEMBERS OF THE LIMITED LIABILITY COMPANY
The law specifies the ways and order and procedures for making a capital contribution of members in limited liability companies with two or more members as follows:
1. Members must contribute capital in full and on time by the type of assets contributed as capital as committed. In case a member changes the committed type of contributed assets, the agreement of the remaining members must be obtained; The company notifies in writing the change to the business registration body within seven working days from the date of approval of the change.
The legal representative of the company must notify in writing the schedule of capital contribution registration to the business registration body within fifteen days from the date of commitment to contribute capital and must bear personal responsibility for damages to companies and others due to delay notice or incorrect, dishonest, or incomplete notice.
2. If a member fails to contribute fully and on time the committed capital amount, the unpaid capital amount shall be considered the debt of that member to the company; Such member shall be responsible for compensation for damages arising from the inadequate and timely contribution of committed capital.
3. After the last commitment period, if there is still a member who has not yet fully contributed the committed capital, the unpaid capital amount shall be handled in one of the following ways:
a) One or more members receive a full contribution;
b) Mobilize other people to contribute capital to the company;
c) The remaining members contribute enough unpaid capital according to their share of capital contribution in the charter capital of the company.
After the remaining capital is fully contributed in accordance with the provisions of this clause, the member who has not contributed capital under the commitment is no longer a member of the company and the company must register to change the contents of business registration in accordance with the provisions. this Law.
4. At the time of making a full contribution to the value of contributed capital, the member is granted a capital contribution certificate by the company. Certificate of contributed capital has the following main contents:
a) Name and address of the company's head office;
b) Number and date of issuance of the business registration certificate;
c) Charter capital of the company;
d) Full name, permanent address, nationality, number of people's identity card, passport or other legal personal identification for members being individuals; name, permanent address, nationality, number of establishment decision or business registration number for a member being an organization;
d) Capital contribution, the value of contributed capital of members;
e) Number and date of the certificate of capital contribution;
g) Full name and signature of the legal representative of the company.
5. In case the certificate of capital contribution is lost, torn, burnt, or destroyed in another form, the member shall be re-granted the capital contribution certificate by the company.
Thus, your contribution to a 2-member limited liability company will be carried out by the above procedure and your name will appear on the business registration certificate.