Do you want to register a company, but you worry that it will be complicated, lengthy or expensive?  You need not worry at all – thanks to modern technology and a new company called PANLEGIS (a bit of a Ryanair of legal services), everyone can set up a company in hours!

First of all you need to decide on the type of company you want to form.  Basically there are two major types of companies regardless of what jurisdiction you are in: limited and unlimited companies.  Basically if something goes wrong with an unlimted company you as an owner are screwed, while with a limited company the shareholders’ liability is, and I quote from the PANLEGIS handbook, limited only to the share capital you have put into the company (your personal assets are thus safe).

There are too many variations of these basic company types to review here.  Depending on your jurisdiction you can have private limited companies, public limited companies, limited partnerships, tax transparent limited companies, tax transparent unlimited companies, and so on and so on.  PALEGIS can provide you with further details.  One of the most important points to consider is what (in any) the minimum share capital requirements are.  In some jurisdictions the capital requirement may be nil, in others it may be more than EUR 10,000.

Within EU / EEC, PANLEGIS has come up with an ingenious scheme that allows you to register a UK Ltd company (where there are no minimum capital requirements) and use it through a branch in a country like Sweden where there are high share capital requirements.

A good formation agent will be able to register your company within hours.  In some countries papers cannot be sent electronically to the registrar, which obviously delays the process.  PANLEGIS is online with Companies House in the UK – so there the process is almost immediate.

In most countries your formation papers will consist of two separate documents: the memorandum of association and the articles of association.  The Memorandum is a document where the initial shareholders agree to be “formed into a company” (they agree to participate as shareholders), and the articles are the by-laws that regulate how your company will be run. A good formation agent will be able to advice you on important issues to be discussed before drafting these.  PANLEGIS will usually ask you to think through issues such as preemption rights and voting rights.

When you receive back from the registrar or your formation agent, review them closely to make sure all the details are correct.  If your agent has done the whole formation process your will usually be ready to start doing business.  If your agent has provided you with documents to be signed and sent, you may have to wait for a formal company number and a Certificate of Incorporation to be returned to you.

Do you look forward to register a company? Herein, you can find some useful tips and a company name that assist the clients with best company formation services. PANLEGIS, Europe’s largest company house entitles qualified company formation agents for the task.