subject: Are You An American Looking To Open A European Company? [print this page] Are You An American Looking To Open A European Company?
In the United States, opening a company can be fairly quick and the requirements tend to be the same from state to state. In Europe as each country has its own government, this tends to vary from country to country. In certain countries such as the United Kingdom, Ireland and Denmark applications are done online and are therefore very fast. However to open a European company elsewhere it can be a different story. Germany, Spain and Portugal are on a notary system; therefore the timescale can be anything from 24 hours to 6 weeks.
The good news for Americans is that it's no more difficult for them to open a bank account here as it is for a European to open up a bank account in America. The bank will require two certified forms of Id and a passport. Two utility bills from the last three months and a passport will suffice. There are certain banks that will require a business plan and in some cases a reference from an attorney or CPA. One aspect of opening a company in Europe is share capital. This is the amount of money you need to deposit in your corporate account to show the relevant authorities you possess enough money to successfully operate your new business. This can be done by your bank simply sending a statement to the notary in the country you are setting up to show you have deposited the money.
One of the advantages of opening a European company is you don't have to be physically present to take advantage of the legal and tax benefits of the chosen country. Virtual offices are available in most European countries and calls can be forwarded or a message taken for you pick up in your American office. E-Commerce businesses will require a merchant account but this can be set up quite easily. As with many countries, including America in order to qualify for a work permit or business visa you would need to prove you can support yourself financially and not rely on your chosen country.
There are many reasons Americans open a European company. One is to expand their existing business into Europe and take advantage of various legal and taxation benefits. This particularly applies to E-Commerce businesses. Another reason is to hold Trademarks; Some US companies wish to incorporate a company in Europe to hold intellectual property and trademarks.
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