The subject of a property donation may be either touchable or untouchable means that are estimated in financial value and which can be used in the company’s business conditioning, except for means that are pure from enforcement under the law. Property benefactions may not be made in installments.
The following assets may not be the subject of property benefactions:
- Scores to give service or perform certain work.
- Anticipated profit or anticipated participation in a company.
- Anticipated payments, royalties, dividends, and the same payments entered by the members of the company.
The following persons are entitled to carry out the appraisal of property donation and draw up an appraisal report:
- A reviewer of property donation is included in the list of appraisers of property contributions kept by the Enterprise Register (ER). The reviewer may not be a first-to-a-third-degree relative, a partner, or an in-law of first-to the alternate-degree affinity of the proprietor of the property to be acquainted and any person else interested in the appraisal of the property.
- Upon the establishment of AS (stock company), SIA (limited liability company or LLC), or a collaborative society. Except if the equity of SIA (LLC) is below EUR 5700 and the total quantum of property benefactions is lower than half of the equity, the founders themselves are entitled to carry out the appraisal.
- Upon the increase of the equity of AS (stock company) or SIA (LLC). Except if the property contributed to a capital company of a public person doesn’t exceed EUR 14 000, the holder of capital shares is entitled to draw up the appraisal report.
- Still, and the equity of the SIA (LLC) is increased, or the SIA (LLC) is established as a new company as a result of the reorganization, means of each company being acquired or the applicable part of means of the company being divided have to be estimated to determine whether they’re sufficient to increase the equity of the acquiring company or to establish the acquiring company. If SIA (LLC) is the acquiring company in the reorganization process. Except if the decision or the contract of reorganization has been checked by auditors, the auditor is entitled to assess the acceptability of means.
- The authors of AS (stock company) and SIA (LLC) if transmittable securities and funds pay up the equity request instruments listed on a regulated request registered (certified) in a Member State of the European Union (EU) or the European Economic Area (EEA) for at least two times before the hand of the memorandum of association or the date of the decision on the increase of the equity. In this case, please give information used as the base for the appraisal of the property donation.
It must bear the below details:
- Description of each item of the property donation.
- Value of each item of the property donation.
- Possession of the property.
- Valuation system of each donation (may not be handed if the appraisal is performed by the founders).
- Opinion on the compliance of the item of the property donation with the types of marketable conditioning of the company.
- Information is used as the base for the appraisal of the property donation if the equity is paid up by transmittable securities and funds request instruments listed on a regulated request registered (certified) in an EU/ EEA Member State, and the appraisal report is drawn by the authors.
It must be written by all members.
Suppose the appraisal report is drawn by the founder. A Property Appraisal Report is valid for six months from the date of drawing up of the information. The Report must be legal also on the day of the signing of the memorandum of association or deciding on the increase of the equity.