When it comes to establishing a company in Europe, it can be simple or tricky, depending on the country of establishment. While establishing an international company is no easy feat, it can become easier with the right information. As such, here is a look at how you can establish a company in Europe easier than ever before.
Visit a Website or a One-Stop Shop – Your Choice
It used to be rather difficult obtaining information about company establishments in Europe, particularly for non-European businessmen. However, things have finally become easier and the information can be obtained rather easily and without hassle. Each European country has a specific registrar website where business owners can find the information they need to get started.
Then again, for businessmen who prefer a more physical approach, one-stop shops are ideal. Simply visit one of the many one-stop shops and receive the information you require.
What’s interesting is that you can fill out the necessary forms, pay the required fees and gather information from both the websites and one-stop shops. This not only makes life easier, it expedites that process of setting up a company in Europe.
Bank Accounts and Deposit Information
In many European countries, a specific type of bank account may be required before the completion of registration. For example, in some European countries, an active bank account is required before company books are verified or shares are authorized.
Moreover, the deposits can vary. For example, in Latvia, for limited liability companies, the entirety of your share capital must be deposited in a bank account before the company is even registered. In other European countries, the amount is 25% of our total invested capital.
Acquire an Identification Number
During the registration process, you will need to acquire an identification number. This number will be used on many forms, in correspondence with agencies and authorities and will also be included in many important legal documents.
Gather Documents Beforehand
In order to establish a company in Europe, you need to have the right documentation on hand. In fact, extra documents may be required for company verification purposes. As such, it is a good idea to gather almost any and every legal document you have before considering a startup.
For those setting up a new company, ensure that you create the proper documents on time and submit them to your respective registrar. The good news is that formation agents can help you with this process.
Meet Local Compliance
When establishing an international presence, it is vital for business owners to meet local compliance. Failure to do so can be detrimental to start-up success. For example, many European countries require bond acquisition in order to meet compliance.
In another example, certain European countries such as Ireland require a duplicate certificate to be present at the place of business before a company can be registered. Fortunately, compliance information can be easily found online on a registrar’s website or may be provided by formation agents.
Fill out the required Forms and Pay the Required Fees
In every registration, certain forms must be filled completely and accurately to progress further. For example, annual filing forms may be filled for currently operating companies. Failure to do so will hinder company establishment. Moreover, the required fees must always accompany each form if it is to be entertained by the concerning company registrar.
Setting up a company in Europe is not as difficult as it seems. With the right information, guide and help, establishing a company is Europe is truly a brisk walk in the park, so to speak.