There are two ways to contribute to the initial share capital, monetary and non-monetary.
Monetary contributions are made by transferring money to the company’s bank account and submitting an application to the Commercial Registry. Non-monetary contributions can be made with anything except FIAT money, such as real estate, cars, loan obligations, or cryptocurrencies.
This article focuses on non-monetary contributions in crypto, specifically Bitcoin, Ethereum, or other cryptocurrencies. The company must already be established, and non-monetary contributions must be permitted in the Articles of Association. If they are not, an application to amend the articles of association must be submitted.
To complete the process, the following documents must be submitted:
- Amended articles of association (if needed)
- Shareholder decision
- Non-monetary contribution valuation act
- Transfer agreement of non-monetary contribution
- Application to the Commercial Registry
If the share capital’s value exceeds EUR 25,000, the contribution’s value must be audited. After receiving confirmation from the Commercial Registry, the share capital payment must be declared to the Estonian tax and customs board.
Lawyer Georgi Džaniašvili can provide advice and prepare all necessary documents for non-monetary contributions to ensure everything is done correctly.
For advice or assistance, please contact me here.
