Question: Our startup has 3 founders, what kind of paper and share do we need to do? In future, if we want increase stock share of a founder / employee because he did a great job, how can we do that?
Answer: According to Art 84 Law on Enterprises 2005,
1 The founding shareholders have jointly subscribed by at least 20% of the total number of ordinary shares to be offered and must be fully paid subscribed shares within ninety days from the date of the company was granted the certificate of business registration.
2 Within ninety days from the date of issuance of the business registration certificate, the company must notify the equity contribution to the business registration agency. The notice must include the following main contents:
a) Name and address of the head office, number and date of issuance of the business registration certificate, business registration place;
b) Number of ordinary shares to be offered, the shares of founding shareholders subscribed;
c) Full name, permanent address, nationality, identity card, passport or personal identification other lawful for founding shareholder is an individual; name, permanent address, nationality, number of establishment decision or business registration number of shareholders is held; subscription of shares, number of shares and value of shares already paid, asset equity contribution of each founding shareholders;
d) Total number of shares and the value of shares was paid by the founding shareholders;
e) Name and signature of the legal representative of the company.
The legal representative of the company must take personal responsibility for damages against the company and others delayed due notice or notices untruthful, inaccurate or incomplete.
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