In particular, all limited liability companies in which all shareholders are not inscribed in the Court Register are obliged to submit an Application for registration of all shareholders with all required data until 31 October 2010.
Until now, only limited liability companies with one shareholder were obliged to inscribe the shareholder in the Court Register.
The amendments will result in all shareholders being inscribed in the Court Register. This information on shareholders will be publicly available on the Court Register’s web site as of November 2010.
Any limited liability company that fails to comply with the deadline will be liable to a fine in the amount of HRK 5.000,00 and required to comply within 15 days, failing which additional fines shall be imposed.
Pursuant to the amendments, new shareholders in a limited liability company, both physical and legal persons will have to warrant that they have no outstanding tax and social security debts.
Furthermore they will have to provide a list of other companies in which they have 5% or more of the shares, and also warrant that those companies have no outstanding tax and social security debts.
The amendments also contain new provisions on data to be registered for a joint stock company, a European company (Societas Europaea, SE), a European economic interest grouping (EGIU) and Cooperatives.
For further information please contact Paul Suchar, Partner, Taxation and Regulatory Services or Hrvoje Pajtak, Regulatory Services.