There are many aspects to consider when comparing different countries where you can set up your business. Although it highly depends on the company structure and business activities, each country has its own procedures and requirements that can facilitate or, on the contrary, complicate the operation of your company. These aspects can be related to the tax policy, hiring of employees and even the political stability of the country. Equally important is the process of incorporation of the company. Each country has its own process, timeline and requirements to follow when starting a business and often these processes indicate the level of bureaucracy and business environment in that jurisdiction.
Various jurisdictions offer the opportunity to go through the company formation process online, which means it takes less time and effort and the entrepreneur is able to set up his or her business from anywhere in the world without leaving their home or office . This is beneficial for the entrepreneur as the incorporation process usually takes less time and the company can start operating sooner. It also points out that the jurisdiction has advanced information systems and other government services are most likely available online as well.
South Africa is one of the jurisdictions where you can register your company online in a few simple steps:
Select your preferred type of company and fill out the relevant application form online. You will then receive a confirmation email with a payment reference number.
The first available company name will be reserved with the Companies Commission and the application for incorporation with the reserved name and other documents will be filed for registration.
You will receive a company registration certificate COR14.3 with company tax number by email. You will also receive an email with links to download your company registration documents.
With your COR14.3 company registration certificate, you can open a business account and also apply for a tax clearance certificate and/or an affidavit.
Australia also offers to register your company online. This is currently a beta service and is still under development, but it is already possible to integrate your business online. The online business registration service is currently available for new businesses starting as a joint venture, sole proprietorship, trust, company or partnership who can apply for a company name, ABN (Australian Business Number) and business and tax registrations. Pension funds can also use this online service in the future. This service is also available to existing companies with an ABN and can apply for tax registration or an AUSkey login. The Australian online business registration service is organized in three easy steps:
Complete an online application and select an available company name. The company name search engine is available online for free.
Complete a registration fee and file the incorporation application with ASIC (Australian Securities and Investments Commission) and you will receive an email confirming your filing.
You will receive an ACN and ASIC certificate by email within 2 minutes along with the company register and tax receipt. If you have also requested an ABN, you will receive this via email within 1 hour during business hours. If domain names have been ordered, they will be registered immediately. With these documents you can open a bank account.
offer company formation online. For example, if your company is limited to shares and has standard articles of incorporation, it can be registered in the UK in 24 hours for £12 (compared to 8-10 days and £40 if applying by post).