Setting up a company in the Republic of Moldova in just 3 steps
In the 21st century,
business is heavily influenced by globalization. The world is more and more
connected and boundaries between countries are as thin as they ever were, which
gives entrepreneurs from all around the world endless options to choose from
regarding the location of their company, the places they can collect the most
favorable inputs from and how to share the outputs with a larger audience that
consists of global costumers.
The Republic of Moldova is a location
that is yet to be discovered as a business destination and an option that suits
the needs of entrepreneurs. But it has plenty of advantages concerning company
establishment and management, some of them being: low taxes compared to the
rest of the countries in Europe, developed banking system, working flexibility
of state institutions, online accounting reporting and the use of electronic
signatures. Another benefit of setting up a company in the Republic of Moldova
is that your involvement in the process can be minimal, as we at Virtual Office
offer you personalized solutions that will fit your personal needs.
We provide expert services at every
step of the way, starting with registering your company, offering a legal
address, creating a bank account, a stamp and even a brand identity for your
business, and continuing with taking care of operational tasks such as mail
forwarding, secretarial and accounting services which are all designed to help
your new company.
Setting up a new firm can often be a daunting experience, especially if you never ran a business before or you are already involved in other projects that are energy consuming. We are a team of experienced professionals that will make the company formation process as smooth as possible, your implication being reduced to a minimum. It only takes 3 days and 3 steps for your idea to become a legal entity that can start its activity on the way to success.
First things first, you have to
decide what is the type of activity that your company will undertake so that we
can provide advice on the most appropriate entity for your needs. Below, we
present some basic information regarding the most popular types of companies.
But for a more in depth analysis you can read one of our previous articles on
this subject.
A Limited Liability Company is formed by one or more individuals
through a written agreement that includes provisions for management,
assignability of interests, and distribution of profits and losses. It’s
suitable for most trading businesses, it can operate anywhere in the world and
can undertake almost any nature of activity other than banking or insurance.
A Joint Stock Company is necessary if the firm is planning to trade
its shares to the public. It can operate anywhere in the world and is suitable
for any nature of business, but it requires a high initial capital requirement.
A Sole Proprietorship Company is one individual or married couple in
business alone. They are the most common form of business structure, it being
easy to form and operate and flexible to manage, facing fewer legal controls
and fewer taxes. However, the business owner is personally liable for all debts
incurred by the business.
Also, at this stage you have to pick the name of your company. This is both an exciting and also very important step, as the name of an enterprise is in most cases correlated to its success. The right name can make your company the talk of the town and the wrong one can doom it to failure. Ideally, your name should convey the expertise, value and uniqueness of the product or the service you offer.
The next step does not require your involvement at all, just provide us with a copy of your Passport (if you are a foreign citizen) or Identity Card (if you are a citizen of Republic of Moldova). We are going to take care of all the needed documents and permits such as: Notification from the National Commission for the Financial Market for insurance agencies, social and pension funds and credit organizations, Decision on the establishment of a legal entity and its constituent documents, confirmation of payment of registration tax and others. Subsequently, we will apply on your behalf for the registration of the company at the Public Services Agency, giving you the opportunity to avoid the lines and the bureaucratic aspect.
The last step consists of signing the
company formation documents and receiving your newly registered firm’s document
package. This is the only involvement required from you, as it is compulsory
that you sign the papers yourself. You
will be accompanied by our representatives to the Public Services Agency where
you are going to sign the documents, for foreign citizens this procedure is
preceded by a visit to the notary where a translator will present all the
information included in the documents. We can also arrange transportation and
accommodation for you, making sure your trip to Moldova is a productive and
pleasant experience.
At Virtual Office, we aim to provide
you a hassle-free experience regarding every aspect of your business. You name
it and we have a solution to make it easier and more productive. We are all
about efficiency and optimization without compromising the results. Embark on a
business journey with us and we assure that you can forget about many stressful
aspects that running a business implies.