Capital companies were supposed to increase the share capital to the required minimum level till the end of 2005. All of them know it but every tenth out of over 131,000 limited liability companies with the minimal level of PLN 50,000 (EUR 13,300) and every eight out of 6,000 joint stock companies (minimum level of PLN 500,000) did not do that.
“12,176 limited liability and 784 joint-stock companies failed to reach the minimum level of the share capital”, Joanna Debek from the Ministry of Justice explained.
The share capital is a guarantee that potential claims from partners or contractors may be paid back. According to old rules, which expired in 2000, limited liability companies had to have at least PLN 4,000 of share capital while joint stock companies – PLN 100,000.
“We are trying to force all companies whose share capital is too low to change it. We even fine them. We have had cases when we decided to liquidate the company”, Lidia Iwanowska from court register in Zielona Gora said.
The Ministry of Justice was asked on Monday by “PB” journalist how to solve the problem but it did not answer the question before this publication.
(PLN 1 = EUR 0.267)