Company Registration Process and Benefits

The sequence of actions will depend on the country in which the business is to be incorporated.
If the company will be registered in the country of its residence, in this case the process can be a
little simplified, because all the data about the owner can be easily checked, as well as his
business reputation. If it is planned to incorporate a business abroad, then in this case the
algorithm of actions may be a little different. However, such a process usually has several
stages:

• Selection of the name. It is necessary to check the chosen name for uniqueness and
  compliance with the requirements of the country of incorporation.
• Preparation of the Articles of Association and other documents of the company. Such
  papers usually describe the scope of the company, its address, names of founders and
  other corporate information.
• Then it is necessary to choose a registration agent. It is possible to use the services of
  intermediaries.
• After collecting a full package of papers, it is necessary to visit the registration office and
  pay the required fees.
• Contribute the authorized capital (if such a requirement is present in the legislation of the
  country of incorporation).
• It is necessary to hold a meeting of founders, adopt the Articles of Association, appoint a
  director, agree on the issue of shares and execute supporting documentation.

After all these actions are completed, the company usually begins its existence. Of course, one
should not forget about the need to open a corporate account for the company, obtain licenses (if any are required due to the scope of the company’s activities), obtain a VAT number, etc. This is
determined by the goals and objectives of the company.

What Types of Companies Exist?

An entrepreneur can register a limited liability company (LLC). This form of enterprise is
considered the most popular in the world. Also available is the registration of a joint stock
company (JSC), which can be both open and closed. Registration of corporations in the form of
LLC or JSC is also available. Again, the preferred form should be chosen based on the main
purposes of incorporation.

Where is the Best Place to Incorporate a Company?

The answer to this question will also depend on the goals pursued by the entrepreneur. If the
company is needed as a tool for diversification of assets, then it is recommended to give
preference to the so-called offshore jurisdictions, which do not have open registers of beneficial
owners. If the purpose of registering your company is to enter new markets, then it is worth
looking at countries that provide favorable conditions for doing business in a particular area.

If it is decided to open a company in the country of your immediate residence, then it is worth
studying the local legislation in detail and learning all the nuances. Incorporating a company in
your place of residence is usually easier, as it is easier to open a bank account here, there are
more opportunities for organizing an office and recruiting staff. But such a decision is often
hindered by excessive local bureaucracy, corruption and high taxes. Due to these aspects, many
entrepreneurs still consider registering a company abroad. This solution will require a little more
money and effort, but if you turn to professionals, the process can be significantly simplified.
When registering a foreign company, we advise you to pay attention to such aspects:
requirements for economic presence, conditions for opening a corporate account, reporting
requirements, requirements for doing business within the country of incorporation, total costs of
the incorporation process.

Nominally, the process of company registration is not something complicated. If you approach
the issue consistently and professionally, all actions will take no