text: Minimum capital The SE must have a minimum subscribed capital of €120,000 as per article 4(2) of the directive, subject to the provision that where a member state requires a larger capital for companies exercising certain types of activities, the same requirement will also apply to an SE with its registered office in that member state (article 4(3)).
  Registered office
  The registered office of the SE designated in the statutes must be the place where it has its central administration, that is to say its true centre of operations. The SE may transfer its registered office within the European Economic Area without dissolving the company in one member state in order to form a new one in another member state; however, such a transfer is subject to the provisions of 8 which require, inter alia, the drawing up of a transfer proposal, a report justifying the legal and economic aspects of the transfer and the issuing, by the competent authority in the member state in which the SE is registered, of a certificate attesting to the completion of the required acts and formalities.
  Laws applicable
  The order of precedence of the laws applicable to the SE is clarified.
  Registration and liquidation
  The registration and completion of the liquidation of an SE must be disclosed for information purposes in the Official Journal of the European Communities. Every SE must be registered in the state where it has its registered office, in a register designated by the law of that state.