Business registration: what needs to be considered?
A business registration is a step a company must take in order to legally conduct business. It is a registration process that must be carried out with the responsible trade authority before the company can start its activities.
The business registration must be submitted by every company that is commercially active, regardless of its size or legal form. These include sole proprietorships, partnerships and corporations.
The business registration must contain the name and address of the company, the type of activity being carried out and the name and address of the owner or manager. In some cases, a license or permit may also be required for the activity, for example certain trades or freelance activities.
After the business registration has been filed, the company will receive a business registration certificate, which certifies that the company has been properly registered. It is important to complete the business registration prior to commencing business as failure to register may result in fines and other legal ramifications.
Some countries also have rules for de-registering a business when the business ceases operations or moves.