For several legal persons, before the company’s incorporation, founders must esablish a financial plan in light of the company’s projected activities. This financial plan must cover a period of at least two years. Although it is not annexed to the deed, it is kept by the notary.
The financial plan must contain at least the following elements:
- A clear description of the company’s projected activities
- A preview of all the sources of financing upon incorporation (founders’ contributions, sponsors, public financing, etc)
- A financial statement for the company’s start established in accordance with a scheme provided by the Code, and financial statments for the first and second years
- Projected profit and loss statements for the first and second years
- A projected budget for the two years to come
- A description of the projected situations at the basis of which the benefits and profitabilty are calculated.
- Where applicable, the name of the accountant who has helped draft the financial plan.
