Create your SARL with only 10,000 DH
3 March 2006
Read by 6921 persons
Text:
Have a business idea? Then don't worry about setting up your SARL, at least as far as capital release is concerned. Since January 1, 2006, it is no longer mandatory to contribute a minimum of 100,000 DH to create your structure. The 1996 SARL law has indeed been revised. The new legislation on this matter, whose objective is to offer a legal framework and opportunities for degree holders and project leaders to create their businesses, promotes economic initiative in all respects. It establishes that, for the SARL legal form, a share capital of 10,000 DH is sufficient.
Even better, the obligation to deposit the funds in full into a bank account in the company's name has been reviewed and eased. One quarter of the capital can be released, i.e. only 2,500 DH, the remainder being spread over five years. It should be remembered that previously, creators had great difficulty opening an account with only 10,000 DH.
OBJECTIVE: 30,000 SARLS PER YEAR
In 2005, the number of SARL creations at the Casablanca Regional Investment Center (CRI) saw a certain decline, but this will have to change with the new provision, which will certainly help to combat informal practices. According to the CRI in question, by integrating the informal sector, the institution should register the creation of nearly 30,000 SARLs per year. However, support measures are expected.
Some will be specified in the next Finance Law (2007 financial year) and will focus in particular on simplifying the formalities for setting up a company. As is the practice in France, the company could choose its registered office where it deems useful, even imposing an obligation to transfer within a period to be set by law. Objective: to make the SARL a completely ordinary company. It should be noted that in France, this same form of company can be created with... a share capital of one euro.
CHALLENGE HEBDO N°84 From Saturday, February 4 to Friday, February 10, 2006
Have a business idea? Then don't worry about setting up your SARL, at least as far as capital release is concerned. Since January 1, 2006, it is no longer mandatory to contribute a minimum of 100,000 DH to create your structure. The 1996 SARL law has indeed been revised. The new legislation on this matter, whose objective is to offer a legal framework and opportunities for degree holders and project leaders to create their businesses, promotes economic initiative in all respects. It establishes that, for the SARL legal form, a share capital of 10,000 DH is sufficient.
Even better, the obligation to deposit the funds in full into a bank account in the company's name has been reviewed and eased. One quarter of the capital can be released, i.e. only 2,500 DH, the remainder being spread over five years. It should be remembered that previously, creators had great difficulty opening an account with only 10,000 DH.
OBJECTIVE: 30,000 SARLS PER YEAR
In 2005, the number of SARL creations at the Casablanca Regional Investment Center (CRI) saw a certain decline, but this will have to change with the new provision, which will certainly help to combat informal practices. According to the CRI in question, by integrating the informal sector, the institution should register the creation of nearly 30,000 SARLs per year. However, support measures are expected.
Some will be specified in the next Finance Law (2007 financial year) and will focus in particular on simplifying the formalities for setting up a company. As is the practice in France, the company could choose its registered office where it deems useful, even imposing an obligation to transfer within a period to be set by law. Objective: to make the SARL a completely ordinary company. It should be noted that in France, this same form of company can be created with... a share capital of one euro.
CHALLENGE HEBDO N°84 From Saturday, February 4 to Friday, February 10, 2006
