Procedure of company registration
- Minimum share capital is 1 € but banks require more than this figure in order to set up an account. The traditional share capital has been 7 500 € but a minimum amount could be deposited of around 4 000 € ex VAT. Please bear in mind that this is “working capital” and can be taken out of the account for use at any time.
- Minimum number of directors is one. However, usually there are 2 directors as this helps with social security payments. If the company only has one director, the burden of these payments is incurred from the first day the company is formed. If the client is non-resident, we can write to the authorities on your behalf to assure these payments are not made. (secretarial fees charged)
- All non EU residents are required to apply for the government authorization if they want to open a SARL in France. This includes applying for an extract of criminal record (not less than 3 months old) which needs to be officially translated into French by a certified translator. A list of translators can be obtained through the French Consulate in the country of residence.
- Company formation takes up to 5 weeks
- VAT registration takes up to 4 weeks.
In order to commence the formation procedure, we will require the following:
- 100% of the company formation cost.
- A completed application form.
- A certified copy of each director/shareholders passport.
- Two utility bills that are less than three months old.
Key amendments to the Singapore Companies Act
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Panama Law 52: Updated legislation for all legal entities
Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.
Important 2016 reporting deadlines for BVI Financial Institutions
Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.
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Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.
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