How to set up a company abroad is the purpose of this article. Our mission here is to help people who want to establish a company in Europe but have not decided in which country to establish their company. In our article, we have provided a very brief information about the establishment of companies in the European Union member countries that we have served.
Germany
The most common type of company in Germany is the GmbH (Gesellschaft mit beschränkter Haftung), with over 1 million. This type of company, which we can call a limited liability company in law, of course, has its own legal personality. How to set up a company abroad in Germany depends on the company type. Establishing a GmbH in Germany is not limited to any number of shareholders.
People on the board of directors must be fully qualified (Sui Juris). The minimum capital required for the installation must be 25,000 Euros and at least half of the capital must be deposited in the bank account when the application is made to the trade registry. If you are asking can a uk company employ someone abroad, German personel is avaible for the task.
Checklist
Its establishment is not dependent on a certain number of partners. A GmbH can also be established as a single person. The checklist for how to set up a company abroad and the GmbH establishment is as follows:
- Deciding on the business subject of the company
- Controlling the business issue with the Chambers of Commerce and Industry
- Preparation of the Company’s Articles of Association
- Company Bank Account Opening
- Notary certification of the Company’s Articles of Association
- Payment of Principal Capital
- Making an application to the Trade Registry through a Notary Public
- The procedure for review of the commercial register
- Registration and registration statement in the commercial register of the GmbH. You need to be careful and check this list before setting up a company in the uk from overseas.
Business Registration
GmbH becomes a legal entity with its commercial registration. It can also be the bearer of rights and obligations such as the Vorgründungsgesellschaft, but later on “i.G.” The appendix should be used to clearly indicate that the GmbH is not yet registered in the commercial register. This is important information regarding running a uk limited company from abroad.
When you are answering how to set up a company abroad question, you must keep the GmbH in check. The purpose of the GmbH can be any legally permissible purpose.
Hungary
Hungary is one of the most attractive countries for foreigners who are asking how to set up a company abroad in Europe. The main reasons for this are that the corporate tax rate is the lowest in Europe with a rate of 9% and post-incorporation transactions are more convenient compared to other EU countries.
Thanks to its IT infrastructure, Hungary is very advantageous especially for companies in the IT sector. The European Institute of Innovation and Technology is located in Budapest. After the establishment of the company, 1-2 and 5-year residence permits can be obtained. Can you set up a uk company from abroadquestion can be answered by Hungary citizens. Because they have this right.
Poland
Poland is one of the advantageous EU countries for establishing a company in Europe with its low inflation rate, qualified and cheap workforce, stable and growing economy and strong domestic market. So keep Poland in your head next time you ask yourself the quesiton how to set up a company abroad?
The currency is Zloty (PLN) and the minimum wage corresponds to 612 Euros (2,600 PLN) as of 2020. The minimum capital required to set up a limited liability company in Poland is 5000 PLN (Approximately 1200 EUR).mIt is one of the countries that allows the establishment of a company with a virtual office. This information will not be helpful if you are looking for how to avoid paying tax when working abroad.
Czech Republic
This country also has a low inflation rate like Poland. Skilled and inexpensive labor is one of the advantages of starting a company in the Czech Republic. As of 2020, the Czech minimum wage is 570 Euros (14,600 CZK).
Joint stock company and limited liability company (Sp.zo.o.) are the most common types of companies in the Czech Republic. While the minimum capital required to establish a limited company is 0.05 Euro, this amount is 80.000 Euro for a joint stock company. If you are wondering how to set up a company abroad in Czech Republic you might find this information useful.
In the establishment of a joint stock company, the official establishment costs are 1500-2000 Euros, excluding the lawyer’s fee. However, in some cases, it can provide advantages that a joint stock company type limited company cannot provide. Joint stock company type is more advantageous for large companies, limited company type is more advantageous for medium and small businesses when it comes to registering a company abroad.
Estonia
If you are considering how to set up a company abroad in Europe and working in the IT field, Estonia is one of the most popular choices. The most popular type of company in Estonia is “Osauhing”, a limited liability company type. Installation can be done online.
The capital required to establish a company in Estonia is 2500 Euros, but there are various flexibility in this regard. Mandatory official fees paid in the establishment can be shown as company expenses later on. The closure of a company established in Estonia is more difficult than its establishment.