Ever wondered if you can use digital currencies like Bitcoin and Ethereum for in-kind contributions in Liechtenstein?
We did exactly this to convert our old No Limit Anstalt to new Equanimity AG in the same step we also revealed our rebranding to Equanimity. Equanimity will be established in Singapore as well through equanimity.sg in the first quarter of 2020.
So we consulted BDO Liechtenstein to guide us with the capital increase from 30.000 CHF to 50.000 CHF with a contribution in kind with a mix of USDC, Bitcoin and Ethereum. Basically they have heard that some incorporations were done already with this method – as you can also contribute gold for example as a contribution in kind – you just need an external auditor to make sure that the asset/kind has approx. this value. We found it make sense as one of the leading jurisdictions for blockchain-related technology companies.
That was the list we required to prepare on documents to make this step
– Resolution of the holder of the founder’s rights
– Articles of Association (2-fold)
– Declaration on the capital increase report
– Capital Increase Report BDO (Liechtenstein) AG
– Declaration of acceptance Board of Directors
– Declaration of acceptance Auditors
we also made the appointment with the local commercial register in Liechtenstein to lodge the changes accordingly. I think it was around 4th of September where the appointment was and the long story short was that recently the commercial register decided to now accept any digital currencies as means for contribution in kinds (even with the expert opinion from a qualified auditor) and this might change again in future as mentioned above there were cases where it was no problem to do so. This means for us to wait and see what the formal statement will be based on the next week/months especially when Liechtenstein will hopefully approve the blockchain law by end of October?
If you have the same to do and would convert your establishment towards an Aktiengesellschaft feel free to reach out to us if you need some help with the documents to be provided. You can of course also go directly to www.bdo.li as well.