Thus, if the firm intends to provide services or investment activities such as trading on its own account; underwriting financial instruments and/or placing them with a firm commitment, etc., its capital at the time of authorization must be at least 750 thousand euros.
If, on the other hand, the firm intends to provide services or carry out investment activities without the right to hold clients’ funds or securities, its initial capital is set at a minimum of 75 thousand euros.
The authorized capital of a company that intends to provide investment services or perform similar activities in accordance with the legislation on markets for financial instruments and investment activities other than those mentioned above must be at least 150 thousand euros.
As a reminder, today the requirements to the authorized capital of investment companies are 50 thousand euros (Category A license), 125 thousand euros (Category B license) and 300 thousand euros (Category C license).
What else the law prescribes
These are the main provisions of the new law, drafted in order to harmonize the Moldovan legal framework on the capital market with the European one. It has been approved by the Government.
It specifies, besides the initial capital, the requirements for transparency in the supervision process. As well as applicable administrative measures and sanctions.
The subjects of the law will be investment companies, except for credit institutions, traders of commodities and issue certificates, collective investment undertakings or insurance companies/insurers.
The provisions of the new law will not apply to credit institutions operating on the capital market supervised by the National Bank of Moldova.
As of 30.06.2025, there are 12 investment companies operating on the stock market of Moldova. Of these, 7 banks have C category licenses. The remaining 5 are non-banking institutions, of which 3 companies have licenses of category A and 2 – of category C.
