There are a number of things to consider when comparing different countries in which to start your business. While this depends heavily on the company structure and business activities, each country has its own procedures and requirements that can make your business operations easier or, on the contrary, difficult. These issues can be related to tax policies, employee recruitment, and even the country's political stability. The process of company formation is just as important. Each country has its own procedures, schedules, and requirements to follow in starting a business, and often these procedures indicate the level of red tape and the business environment in that jurisdiction.
Different jurisdictions offer the option to go through the company formation process online, which means it takes less time and effort and the entrepreneur can set up their business from anywhere in the world and not have to leave their home or office. This is advantageous for the entrepreneur, as the formation process usually takes less time and the company can start its activity earlier. It also indicates that the judiciary has advanced information systems and other government services are most likely also available online.
South Africa
South Africa is one of the jurisdictions offering to register your company online within few easy steps:
- Select your preferred company type and complete the corresponding application form online. Afterwards you will receive a confirmation e-mail indicating a reference number for payment.
- The first available company name is reserved with the Companies Commission and the incorporation application with the reserved name and other documents are filed for registration.
- You receive a COR14.3 company registration certificate along with company income tax number via e-mail. You will also receive an e-mail with links following which you will be able to download your company registration documents.
- You can use your COR14.3 company registration certificate to open a business bank account and furthermore apply for a tax clearance certificate and/or Bee Affidavit.
Australia
Also Australia offer to register your company online. This is currently a Beta service and still is under development but it is already possible to incorporate your business online. The online business registration service is currently available for new businesses starting as a joint venture, sole trader, trust, company or partnership who can apply for a business name, ABN (Australian Business Number) as well as company and tax registrations. Superannuation funds will also able to use this online service in the future. This service is also available for already existing businesses with an ABN and can apply for tax registration or an AUSkey login. Australian online business registration service is organized in three easy steps:
- Complete an online application and choose an available company name. Company name search engine is available online for free.
- Complete a registration fee payment and submit the incorporation application to ASIC (Australian Securities and Investments Commission) and receive an e-mail with a confirmation of your submission.
- You will receive an ACN and ASIC Certificate along with Company Register and tax receipt within 2 minutes via e-mail. In case you also applied for an ABN, you will receive it within 1 hour during business hours via e-mail. If domain names were ordered, they are registered immediately. With these documents you are able to open a bank account.
More jurisdictions offer company incorporation online. For example, if your company is limited by shares and has standard Articles of Association, it can be registered within 24 hours for 12 GBP in United Kingdom (in comparison to 8-10 days and 40 GBP if applied via post).
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