Judging from the new company law that will come into effect on July 1, 2024, everyone is more concerned about the company's paid-in regulations. The company is required to complete the paid-in of the registered capital within 5 years of its establishment. There are no clear instructions on how to implement an existing company.
Based on his experience, the Company Law is still applicable to existing companies.
Therefore, the existing company should respond to the new policy, if the company can pay up the registered capital within the time limit, there is no need to go through the capital reduction or cancellation matters.
If the company is unable to pay up the registered capital within the time limit, it is recommended to deal with it by reducing the company's registered capital to the amount that can be paid. Or if the company has not been used for a long time, you can also consider deregistration directly.
In conclusion, the introduction of the new company law is an important change for existing companies. Incumbent companies should keep a close eye on changes to new regulations and take appropriate steps to adapt and comply with the new requirements. This will help them stay compliant and prepare for future growth.