Increase of the primary capital in commercial foundations
Last updated: 28 February 2022.
The decision to increase the primary capital is made by the board.
The decision must not be in conflict with the foundation’s objective, the articles of association or the founders preconditions.
The primary capital can be increased if
- other equity capital is transferred to the primary capital, or
- assets added to the foundation after the creation of a will, gift or other unilateral disposition, are added to the primary capital. However, this will not apply if something else is decided or celarly assumed by the person who has transferred the assets.
The capital increase is to be reported to the Register of Business Enterprises within six weeks after the decision has been made. If the capital increase has not been reported within the time limit, it will be cancelled.
What documents do I need to attach?
Documents you always have to attach are
- minutes showing the decision to increase the primary capital
- articles of association
- statement from the auditor that the entire primary capital has been made available to the foundation
- if the primary capital consists of assets other than money; a statement from the auditor confirming that the assets have a value that at least corresponds to the amount for which the primary capital is stated in the statutes