Setting up a Company
You are thinking about setting up a company or have already decided to do so. There are several reasons to set up a company and it is important to fully understand what purpose it will serve and the commitments you take on in starting a new company.
Benefits of a company
- In a Limited Liability Company, the liability of the shareholders is limited to the fully paid up share capital of the company.
- Any claim against the company cannot extend also to its shareholders.
- Credibility: a person operating through a company tends to be perceived as more trustworthy and resilient than the same person acting in their own name.
- Eligibility to contracts and tenders: certain projects would require a service provider to be incorporated as a company to qualify to make a bid.
Uses of a company
We may now consider different purposes of a company. These are divided for convenience into operational activities versus holding activities, although in general one company may do both:
Using a company for Operational or Trading Activities
- To carry out one’s business affairs in a structured manner
- To organise a joint investment or project between different partners
- To enter a foreign market with a presence on the ground
- To start off a new venture, not linked to existing activities
- To exploit any manner of commercial property
Uses of a Holding Company
As the name suggests, a Holding Company may be used to hold any lawful asset that may include any of the following:
- Shares in other Companies
- Financial Portfolio
- Treasury or providing Finance to related companies within a group
- Immoveable Property
- Intellectual Property Rights
- Physical/Tangible assets
- Personal Financial Portfolio
- Tangible assets such as real estate, company shares
- Shares in Family Business
- Lifestyle Valuable Assets such as Yachts or Jets
- Legacy Assets such as Artworks or Collections
Setting up a company
At Interserv we help you to set up your company as quickly and painlessly as possible. Once we have understood your proposed activities and completed client onboarding we may write up the necessary documents to be submitted to the company registry. There are some decisions you will need to take, such as whether to appoint local director/s and company secretary as well as the registered office. We may introduce qualified personnel and offer the use of our address, provide clients with desks in our shared workspace or indeed help them find their own office.
Running a Company
Thee are formalities to running a company that vary from one country to another and our role is to look after these so that you can focus on your business and clients. A company is usually required to submit audited Financial Statements, tax declarations and an annual return to the company registry.