Company registration
Every business starts with an idea. But sooner or later, any entrepreneur must register a company in their country or abroad in order to embody ideas and carry out activities legally. However, sometimes it is necessary to incorporate a new legal entity not only for those who start entrepreneurship but also for those who have been doing this for a long time. For example, you need a new holding with other classes of activities in order to introduce a new kind of business. Or register a subsidiary enterprise, branch, or representative office in another country to enter the transnational market.
Each state has its own rules for citizens and foreigners wishing to start a business. Sometimes a person can change jurisdiction due to new perspectives, tax benefits or simplicity of doing business, and lack of bureaucracy. The goals are different for everyone, but the meaning is the same. To work in the legal field, you need to register with the state as a company and officially pay taxes.
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What is company registration?
In the international sense, the process of company registration implies the inclusion of a unique record in the State Register of Legal Entities. To register a company, the applicant (usually the owner himself or his authorized representative) submits an application for the signup of a new legal entity. This should be a new title that is not used by other firms. After the relevant entry is made in the State Register, the owner receives a special paper certifying his ownership rights.
Typically, all establishments have a unique registration number by which they can be identified. After full company registration, it can receive a taxpayer number, apply for necessary permissions with any other government agencies and formally enter into contracts with local and international customers and contractors. Also, an officially incorporated firm can set up accounts with local and international banks.
Each country has its own procedures and rules. Frequently, national authorities require a certain collection of documents about the founders, directors, and planned activities. You also need to pay a state fee. Sometimes you can submit documents online remotely, but in many cases, you ought to submit the originals certified by a notary. Enrollment deadlines also depend on the territory. As a rule, in most countries, it is possible to set up a new enterprise within one week.
Quickly select a jurisdiction and register your company anywhere in the world online
Why do I need to register my company with www.fintecharbor.com?
Fintecharbor is the one-stop solution for novice and mature entrepreneurs questioning where to register my business. As a leading fintech law firm, here are some reasons why you should choose us.
- Our counselors are aware of all the nuances of opening new enterprises in many global jurisdictions.
- We have extensive experience registering private companies, holding structures, representative offices, and subsidiaries.
- We are always on the client's side and will help you select the optimal tax regime, acquire the required licenses and work as efficiently as possible.
- Our every step takes place only with your knowledge. We treat your money like our own; therefore, we do not add additional costs.
- After your company formation, we will be delighted to accompany you in further commercial activities.
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How do we register your business organization?
First, an experienced lawyer meets with you to find out the goals of your business and potential activities, as well as the markets in which you plan to work. After that, we will recommend the most suitable type of company and taxation option for you. We will advise in which country it is better to register a company.
When the preliminary details are received, we will draw up a list of demanded papers and announce the approximate time frame to register a new company, as well as assist you in opening a business bank account. We will help you gather the essential certificates and, if necessary, translate them into English and notarize them.
In most cases, we will be able to submit applications by power of attorney to the authorized bodies. You do not need to visit the state registrar or tax office personally. Most of the services will be provided remotely. The assigned lawyer will be accountable to the client at every stage.
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I represent a large cross-border IT holding. Every time we need to register a new business when entering a new market, we contact our dedicated expert and get advice on the process. Next, the team arranges documents for verification by our in-house lawyers. This saves a lot of time.
My partner and I already had a company and wanted to open a foreign representative office. The lawyers helped us a lot in the process, we picked the optimal taxation option, found local auditors, and many other helpful professionals. The employees were always in touch and responded to our every inquiry in great detail.
FAQ
What are the types of company registration?
In most jurisdictions, it is possible to register your business as a limited liability company, holding institution, trust fund, parent and subsidiary firm, representative office, or branch. For those who plan to engage in activities related to finance, sometimes such a type as an investment enterprise is conditioned.
You can incorporate a partnership, association, or joint-stock corporation. Each type of firm has its own characteristics, rights, obligations, and relationships between shareholders. Companies are divided into residents and non-residents. Resident businesses carry out their activities within the jurisdiction in which they are enlisted. Non-resident ones operate exclusively with foreign clients. An establishment in any land can be registered by both a citizen of this nation and a foreigner.
You can incorporate a partnership, association, or joint-stock corporation. Each type of firm has its own characteristics, rights, obligations, and relationships between shareholders. Companies are divided into residents and non-residents. Resident businesses carry out their activities within the jurisdiction in which they are enlisted. Non-resident ones operate exclusively with foreign clients. An establishment in any land can be registered by both a citizen of this nation and a foreigner.
Should I need to pay taxes for company registration?
In many jurisdictions, you must pay a state duty in the prescribed amount when registering a new legal entity. However, this is not a tax. The company becomes a full-fledged taxpayer only after completing the registration procedure and is registered with the tax office of their country. Taxation depends on the type of activity, source of income, and many other factors.
To register my company, it is frequently essential to deposit the authorized capital into a bank account. This is required to prove the company’s trustworthiness. The riskier the activity is planned (for example, the banking or financial sector), the higher the amount paid. The difference between the authorized capital and the duty is that the duty is paid to the state and is non-refundable, even in case of refusal. While the authorized capital remains on the account, it can be utilized for development and investments.
To register my company, it is frequently essential to deposit the authorized capital into a bank account. This is required to prove the company’s trustworthiness. The riskier the activity is planned (for example, the banking or financial sector), the higher the amount paid. The difference between the authorized capital and the duty is that the duty is paid to the state and is non-refundable, even in case of refusal. While the authorized capital remains on the account, it can be utilized for development and investments.
How much does company registration cost?
The cost depends on many factors and is negotiated individually in each case.
How long does it take to register a company?
Deadlines depend on the selected country and type of activity. In many countries, company registration online is possible, which takes 1-3 days, and in other cases, several weeks.
Do I need a business bank account?
You can register a new company without an account. You will need to set it up later to engage in commercial activities.
Company incorporation requirements
The conditions for new legal entities differ depending on the country and type of activity. It is imperative to provide information about the owners and persons who will be managing. You also need to have a legal address.
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