Two Macedonian company-law terms are constantly mixed up: влог (contribution) and удел (share). They are related but not the same, and the distinction has real consequences for who controls the company and how profit is split. In short: the влог is what you put in; the удел is what you get in return.
Влог — the contribution
The влог is the economic contribution a member transfers to the company — at founding or on a capital increase. It can be monetary (cash paid into the company's account, in denars or foreign currency) or non-monetary / in kind (property, vehicles, equipment, or rights such as patents and licences). In-kind contributions must be independently valued by an authorized appraiser. In certain cases, a loan or claim against the company can also be converted into a contribution. Once transferred, contributions form the company's basic capital (основна главнина).
Удел — the share
The удел is the totality of rights and obligations a member acquires in exchange for their contribution: the right to take part in decision-making, to receive a share of the profit, to access company information, and to a share of any remaining assets if the company is wound up. Each member holds one удел, and it cannot be represented as a security (unlike shares in a joint-stock company). Members are recorded in the company's Register of Shares (Книга на удели) — only a person entered there counts as a member.
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Why the difference matters
By default, a member's ownership percentage matches the proportion of their contribution. But the founding agreement can set it differently. For example, a member who contributes EUR 1,000 to a company with EUR 5,000 of capital has put in 20% of the capital — yet the members can agree that this person's удел (and therefore their voting power and profit share) is 40%, or some other figure. That is why the влог alone does not tell you who controls a company; the удел does.
If a manager refuses to enter a member in the Register of Shares, the member can petition the court to enforce registration, typically within a short window of 8 days.
