The initial organization and the company’s naming process often takes several months in many countries, the time period often depends on the size of the company. Registering the company is the first step directed at receiving authorization to do business. However, small businesses such as single ownership are often registered without applying for many documents. Other complex businesses often use lawyers and other legal services to ensure all the necessary tasks are resolved without obstacles and on time. The steps involved in the company registration include:
· Register a name
Registering companies involve registering the company’s business name with local or state institutions. This helps to order a company name in registration conditions. Most of the state authorities require companies to register their names to help eliminate confusion among consumers – this makes it easy to find the company and its owner. The process of registering the name involves the search for directory the company name to ensure the name does not exist and archive the name registration document and send the name to the archiving agent with the submission fee.
· Legal entity documents
When the process of registering the company was initiated, the organization chose the most appropriate legal structure. The single owner, which is owned by one person needs very little documents, if any, to be delivered to relevant state institutions. However, Limited Liability Companies (LLC) and corporations require a more complex business structure. Countries often maintain specific filing and document requirements for each company. Types of documents include organizational items, limited partnership statements or articles or merger. This document illustrates the company’s nature, organizational rules and management structures – submitted with countries and costs vary from state to country.
· License and permission
All companies that have the opportunity to be registered with the state need to be issued with the necessary licenses and permits. To get this license and permission, companies need to submit certain documents to identify and verify business. They also need to pay fees to facilitate registration. The tax authority requires companies to register with them to get the employer identification number. Companies that provide medical or legal suggestions must be registered with the relevant state council that regulates their practice. Companies that specialize in selling certain products such as firearms or alcohol need to get special licenses and permits.