Conversion of share capital into euro
As a result of the upcoming introduction of the euro as the official currency of the Republic of Croatia, new amendments to the Companies Act ("ZTD") have been introduced which will determine the conversion method of share capital from kuna to euro.
The new amendments of the ZTD regulate the following:
I. For joint-stock companies
- the lowest amount of share capital is set at EUR 25,000.00 (previously: HRK 200,000.00)
- the lowest nominal value of the stock is set at EUR 1.00 (previously: HRK 10.00) and all nominal values higher than EUR 1.00 must be expressed as a whole number (e.g. EUR 2.00, EUR 3.00, etc.)
All existing joint-stock companies must harmonize the amounts of share capital and stocks during the first change of share capital, and no later than January 1st, 2024.
II. For limited liability companies
- the lowest amount of share capital is set at EUR 2,500.00 (previously HRK: 20,000.00)
- the lowest nominal value of a business share is set at EUR 10.00 (previously: HRK 200.00), and all nominal values greater than EUR 10.00 must be expressed as whole numbers as multiples of 10 (e.g. EUR 20.00, EUR 30.00 EUR, etc.)
All existing limited liability companies must harmonize the amounts of the share capital and business shares during the first change of capital, and no later than January 1st, 2026.
For companies that do not comply with the above-mentioned changes, the court registry will initiate the deletion procedure.