Business Formation

Choose a Business Name

Select a unique and appropriate name for your business. Ensure it does not conflict with existing trademarks or violate any naming restrictions.

Determine the Business Structure

Decide on the legal structure that best suits your business, such as a sole proprietorship, limited liability company (LLC), joint-stock company (JSC), or partnership. Consider factors like liability, taxation, and management flexibility.

Prepare the Founding Documents

Prepare the necessary founding documents, such as the Articles of Association (for an LLC or JSC) or Partnership Agreement (for a partnership). These documents outline the business's purpose, organizational structure, rights, and obligations of participants.

Capital Requirements

Determine the minimum authorized capital required for your chosen business structure. The amount varies depending on the type of entity. Ensure you have sufficient funds to cover the initial capital requirements.

Register with the State Registrar

Submit the required documents to the State Registrar, also known as the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Organizations. The registration process may involve providing personal and company information, paying registration fees, and submitting relevant documents.

Obtain Tax Registration

Register with the State Tax Service to obtain a taxpayer identification number (TIN) and register for tax purposes. This step is essential to fulfill tax obligations and comply with tax regulations.

Register with Social Security Authorities

Register with the Pension Fund and Social Security authorities to ensure compliance with social security obligations and employee benefits.

Obtain Permits and Licenses

Depending on your business activities, you may need to obtain specific permits or licenses from relevant authorities. Research the requirements for your industry and comply with the necessary regulations.

Open Bank Accounts

Open a business bank account to manage financial transactions and separate personal and business finances.

Register with Statistics Authorities

Register with the State Statistics Service to fulfill reporting requirements and provide statistical information about your business operations.

Fulfill Reporting Obligations

Comply with annual reporting requirements, including financial statements, tax returns, and other mandatory filings. Ensure you meet all reporting deadlines and maintain accurate records.