What are the formalities to follow to create your own company?

Setting up a company is the culmination of all your life's projects. Being a big contributer to the development of the country, it is an excellent choice to achieve professional success. On the other hand, starting a business should be done with a clear head. This is why you should know of the formalities you need to follow to ensure your company’s success...

The steps to take before starting a business

To get your business off to a good start, it is important to analyse the projects to be carried out very well. It is therefore necessary to take up the challenge of finding a project idea. Then, you will have to think about the funding of your activities. Hence, it is important to draw up a business plan so that it is easier fro you to define your projects’ profitability aswell as the size of the teams to be set up. Whether it be internal or external financing, each collaboration must be significant in order to guarantee your professional success. The drafting of a financial forecast will be of topical importance. In-depth analysis of your business plans will ensure your success.

Defining a corporate form and drafting the articles of association

The registration of a company begins with the choice of its legal form. You must therefore choose between a sole proprietorship or a partnership. In the first case, a sngle person forms the company. In the second, the creation of the company gives rise to a legal person, independent of the founder. Once you have made your choice, it is important to draft the articles of association. This will make it possible to determine the powers, the corporate purpose, the amount of the share capital, the registered office, the contributions, etc. i.e. the structuring of the company’s details. Furthermore, the articles of association are similar to a company contract. It is therefore advisable to call on a professional to draw up the company's articles of association.

The legal steps to follow

After the articles of association have been drafted, building up the share capital is the next step to be followed. The value of all contributions must be determined. Subsequently, it is important to draw up a list of acts performed on behalf of the company. For instance, in France, to validate the legal formalities, it is essential to fill in the Cerfa form. This is a very important document for the registration of the company. This step will be followed by the publication of a legal announcement. The filing of the documentation with the Centre for Business Formalities will complete the company creation process.

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