Contrary to popular belief, company registration does not have to be a daunting process. Are you considering your own company incorporation? This article will serve as a useful guide to those interested in setting up a company but are not quite sure where or how to start. Ready? Let us begin.
First and foremost, find out and study all governmental guidelines on company formation in your desired country or state. Remember that company registration is a legal process and every requirement has to be fulfilled according to the jurisdictions company laws if you want to set up your company successfully without a hitch. Precious time and resources are often wasted through delays caused by rejected applications that do not adhere to the country laws.
If you have sufficient funds, you may want to consider letting a company incorporation agent handle the entire process for you. An experienced agent can offer valuable professional advice and give you the much-needed support to persevere through the process of company formation. Your agent will also take care of all the minute details, allowing you to invest your time and energy in planning the future operations of your company.
After familiarizing yourself with the process of company registration, it is time to christen your company. The company name is your brand, so choose a striking name that represents what your company stands for, preferably something that is memorable and appeals to your target market. When deciding on your company name, bear in mind that you cannot use an existing company name or one that is deceptively similar to it.
Choose a company business structure. There are many different types available, again depending on your country or state, your business objectives and more. Here is a list of some of the more common business structures employed by companies: Public limited company (PLC), Private Company limited by shares (Ltd, Limited), Company limited by guarantee, unlimited company, Limited liability partnership (LLP) and Limited partnership (LP). The exact names vary by jurisdiction but one of the most common forms of company registration by entrepreneurs around the world is a limited liability company.
For jurisdictions that require a registered office for your company go for a place where you will be available to most of your clients and target market. Other factors like rental, transportation, accessibility and number of competitors in the area can also be taken into consideration before choosing and setting up your company office. Using a Virtual Office is an efficient option for many small business owners and corporate services firms can provide these.
Finally, select your company shareholders and decide how many shares will be available to them. You also need to select company directors and make any necessary changes to the existing employee structure in your business. Company shareholder and director requirements are dependent on the jurisdiction’s company laws, some do allow for using nominee shareholders/directors. This is where your research, or corporate service provider, will be helpful.
While company incorporation can be a tedious process, the end result of a profitable business is a great reward. Embrace the challenges of company registration and don’t let the hassle of company formation rob you of the joy and pride of starting your own company!
- Offshore Company : Healy Consultants is a leading corporate services firm that assists entrepreneurs and investors with company registration. The firm provides a range of corporate services to assist entrepreneurs with their company incorporation, whether that be an offshore company, or for business operation in jurisdictions such as Singapore and Hong Kong.