Is there a requirement to have a fully paid up share capital at the point of incorporation in Namibia?
Shares in a company having a share capital, whether a private company or a public company, must be fully paid up before they can be issued to the subscriber and that subscriber can be entered into the company’s shares or securities register. A company may allot or agree to allot shares that are not fully paid up for the purpose of offering the shares for sale to the public as fully paid-up shares, however:
- if the offer is not made within one month from the date of the allotment or agreement, the allotment or agreement is void; or
- if the offer to the public is made but not accepted, in full, within two months from the date of the allotment or agreement to allot, the allotment of or the agreement to allot the shares in respect of which the full issue price is not paid within that period is void.