Update: Add or Change your Company’s Currency on Eqvista
Are you using Eqvista as your cap table software to track and manage the shares in your company? If not, it is time to do so! Eqvista is constantly growing and updating our app to make things much easier for users as they issue shares in their company. Our most recent update is that users can now select from the multi-currency options on the Eqvista app based on their company preference.
This article will help you learn how you can do it easily through our app!
How many currencies do we support?
As of now, we support around 35 different currencies on the app with currency symbols. And for those currencies that do not have a symbol, the system displays the abbreviations, like “RUB”.
How to add your currency when creating a company profile on Eqvista?
Let assume you are about to create a company profile on Eqvista. First, log into your account or create a new one. Once you do this, you will reach the page where you can see your company profile and the option to add a new company there. Click on this and you will be directed to the first step for creating your company profile, as below:
In this first step, you will have the option to select the currency of your company together with the other company details. Follow the next steps to create your company.
How to change my company’s current currency to a new one?
By now you know how to change the currency when creating a company profile on Eqvista. Let us now see how to change the currency when you already have a company profile on Eqvista. Here are the steps to do it:
Step 1: Go to the “Company” option on the left-hand side of the Dashboard. A drop-down menu will appear from where you need to click on “Profile” and you will be redirected to the page of your “Company Profile”.
Step 2: From here, click on the “Edit” button that you see on the top right-hand side and a pop-up window will appear where you can easily make the change. Here, you can change to your preferred currency, and click on “Save”.
With this you now know how you can utilize the multi-currency feature on the Eqvista platform.
Let us explore some real-life examples of how this multi-currency function works with different countries around the world.
How to Issue Shares of your Home Country on your Company Profile on Eqvista?
By default, the company profile will be set to US dollars, but this can be changed.
Let us look at some examples on how you can issue shares for a:
- A German Company
- A UK Company
- A Hong Kong Company
- A Singaporean Company
1. How do I issue shares for my German company on Eqvista?
If you own a company in Germany, then you will need to add the details when creating your company profile and issuing shares for your company. For this, you will need your company’s Article of Association. The steps below will help you understand how to get the details from the Article of Association and add it to your company profile on Eqvista.
Example – German Company
Below are the details of the company obtained from the Article of Association to be used in creating the profile on Eqvista:
Company Name: Heyinz GmbH
Incorporation Date: 02/05/2019
Company Type: Company with limited liability
Founder Details: Ivon Fred ( Director), Glas Alys (Director)
Shareholders and Share Details:
| Shareholder Name | Number of Shares |
|---|---|
| Ivon Fred | 250 shares (Ordinary Shares) |
| Glas Alys | 100 shares (Ordinary Shares) |
Now that we have all the information, let us begin creating a company profile on Eqvista.
Step 1: Log into your Eqvista account or create one if you do not have it yet. You will then reach the page where you see the option to “Add Company”. Click here to begin the process of creating a company profile for your Germany company. Add in the details here as per the information collected from the Articles of Association such as the company name, company type, and incorporation date.
The next option is to select the country of origin, in this case, Germany. Then click on the field for adding the currency and choose “Euro” for your German company. Once done, click on “Save and Continue”.
Step 2: The next step is to add the number of authorized company shares, which is the total authorized shares and the value of the shares in Euro. This information again is obtained from the Articles of Association. After you are done, click on “Save and continue”.
Step 3: The last step to set up a company is to add a founder, their details, and how many shares they own in the company. You will need to add the legal name of the founder and then issue the shares to them from the authorized shares. Add the date of issuance, number of shares issued, price per share at the time of issuance and the share certificate name (certificate number).
To add another founder, click on the button “Add a founder” and add the details as needed. In this case, there are two founders, so both details were added.
With this, your company would have been formed and you will reach the Dashboard of the company that you just created.
Step 4: From here, click on the option “Cap table” on the left-hand side and from the tiny drop-down menu click on “Detail”. You will be redirected to the next page where you can see all the details of your company’s cap table, as below:
Once you have created your company here on Eqvista, you can now add more shareholders and start issuing shares to each. To help you in using the application to the fullest, check out our support guides here!
2. How do I issue shares for my UK company?
If you own a company in the United Kingdom, then you will need to add the details when creating your profile and issuing shares for your company. For this, you will need your company’s Certificate of Incorporation. The details below will help you understand how to get the details from the Certificate of Incorporation and add it to your company profile on Eqvista.
Example – UK Company
The above document is the Certificate of Incorporation. The one below is the Application used to register the company.
The next document is the details of the proposed officers in the company.
The document below is the Statement of Capital for the Share Capital. It tells how many shares the company has.
The last document is proof of the issuance of shares to the initial shareholders, who are also the founders of the company. Here, there is only one founder, who is offered 200 shares.
Below are the details of the company obtained from the Certificate of Incorporation which will be used in creating a company profile on Eqvista:
Company Name: BCG Group Company Limited
Incorporation Date: 10/01/2016
Company Type: Private Company Limited by Shares
Founder Details: Micheal John (Director)
Shareholders and Share Details:
| Shareholder Name | Number of Shares |
|---|---|
| Micheal John | 250 shares (Ordinary Shares) |
Now that we have all the details, let us begin creating a company profile for this UK company on Eqvista.
Step 1: Just like for the previous example, log into your Eqvista account and click on “Add Company”. You will reach a page where you start the process to create your UK company profile on Eqvista. Add in the details as per the information collected from the Certificate of Incorporation such as the company name, company type, and incorporation date. Select the company of origin as the “United Kingdom” and the currency as “British Sterling”. Once done, click on “Save and continue”.
Step 2: The next step is where you will have to add the number of authorized company shares, which will be added in Pound Sterling. This information again is obtained from the Articles of Association.
Step 3: The last step to set up a company is to add the founders and issue shares to them based on how many shares they own in the company. So, add the date of issuance, number of shares issued, price per share at the time of issuance and the share certificate name (certificate number). As there is only one founder for this company, after this, click “Save and continue”.
With this, your company would have been formed and you will reach the Dashboard of the company that you just created.
Step 4: From here, go to “Cap table” and then “Detail”. You will be redirected to the next page where you can see all the details of your company cap table as shown below:
Once you have created your company here on Eqvista, you can now add more shareholders and start issuing shares to them. To help you in using the application to the fullest, check out our support guides here!
3. How do I issue shares for my Hong Kong company?
If you own a company in Hong Kong, then you will need to add the details when creating a company profile and issuing shares for your company. For this, you will need your company’s Articles of Association. The details below will help you understand how to get the details from the Articles of Association and add it to your Hong Kong company profile on Eqvista.
Example – Hong Kong Company
This how the Articles of Association looks like:
Company Name: ABC Limited
Incorporation Date: 01 June 2019
Company Type: Private Company Limited by Shares
Founder Details: Alex Chan, Billy Wong
Shareholders and Share Details:
| Shareholder Name | Number of Shares |
|---|---|
| Alex Chan | 500 shares (Ordinary Shares) |
| Billy Wong | 500 shares (Ordinary Shares) |
Now that we have all the details, let us begin creating a company profile on Eqvista.
Step 1: Just like the previous examples, log into your Eqvista account and click on “Add Company”. Add in the company details from the Articles of Association such as the company name, company type, and incorporation date. Select the company of origin as “Hong Kong” and the currency as “Hong Kong Dollar”. Once done, click on “Save and continue”.
Step 2: Add the number of authorized company shares, which will be added in the Hong Kong Dollar. This information again is obtained from the Articles of Association. After you are done, click on “Save and continue”.
Step 3: Add both the founder’s name and issue shares to them based on how many shares they own in the company. When done, click “Save and continue”.
Step 4: With this, your company will be formed and you will reach the Dashboard of the company you just created. Now, click on “Cap table” and then “Detail”. You will reach the summary cap table page of your company as below:
Now you can add more shareholders and start issuing shares to each. To help you better, check out our support guides here to learn how to use Eqvista!
4. How do I issue shares for my Singapore company?
With a company in Singapore, you will have the Certificate from ACRA. Using the details of your company, you can create your profile on Eqvista and begin issuing shares for your company here. Below are the steps on how to do this.
Example – Singapore Company
This how the Certificate from ACRA for a Singaporean company registration looks like:
Company Name: Perfect Holdings PTE. LTD.
Incorporation Date: 06/01/2013
Company Type: Exempt Private Company Limited by Shares
Founder Details: Mike Fero (Director), Shwan Nick (Director)
Shareholders and Share Details:
| Shareholder Name | Number of Shares |
|---|---|
| Number of Shares | 10 shares (Ordinary Shares) |
| Shwan Nick | 10 shares (Ordinary Shares) |
Now that we have all the details, let us begin creating a company profile for your Singapore company on Eqvista.
Step 1: Log into your Eqvista account and click on “Add Company”. Add in the company details as provided and select the company of origin as “Singapore” and the currency as “Singaporean Dollar”. Once done, click on “Save and continue”.
Step 2: Add the number of authorized company shares, which will be added in Singaporean Dollars. After you are done, click on “Save and continue”.
Step 3: Add both the founder’s name and issue shares to them based on how many shares they own in the company. When done, click “Save and continue”.
Step 4: With this, your company would have been formed and you will reach the Dashboard of the company that you just created. Now, click on “Cap table” and then “Detail”. You will reach the summary cap table page of your company as shown below:
Now you can add more shareholders and start issuing shares to each member.
And that is how you can use the Eqvista to successfully create a company profile for a German, UK, Hong Kong and Singaporean company.
In case you have any questions on how to use the Eqvista app, check out our support guides here. For any additional assistance or if you need more information how to use our cap table software, contact us at Eqvista today!
