Step-by-step guide to setting up a company

From idea to legalization

1. Define the business idea

The first thing you need to do is to have a clear idea of the business you want to carry out. Identify your target market, analyse the competition and define how your product or service will differentiate itself in the market.

2. Make a business plan

A business plan is essential to have a clear vision of how your company will develop. It includes a description of your business, a market analysis, a marketing strategy, a financial plan, and other key aspects.

3. Choose the legal form of the company

You must decide whether you want to form a corporation, a limited liability company, a sole proprietorship, among other options. Each legal form has its own advantages and disadvantages, so it is important to analyze which one best suits your business.

4. Register the company

Once you have decided on the legal form of your company, you must register it in the corresponding Commercial Registry. You must submit the necessary documentation and pay the established fees.

5. Obtain the necessary permits and licenses

Depending on the type of business you are starting, you may need to obtain certain permits and licenses to operate legally. Check with local authorities to ensure you meet all legal requirements.

6. Open a business bank account

It is important to separate personal finances from business finances. To do this, you should open a business bank account in the name of your company and keep all financial transactions related to the business in it.

7. Hire an accountant or tax advisor

To properly manage your company's accounting and comply with tax obligations, it is advisable to have the support of an accountant or tax advisor. They will help you to properly control your finances and comply with tax obligations.

8. Start company operations

Once you have completed all the steps above, you are ready to start your business operations. Promote your business, serve your customers, and keep innovating to grow your company.

Frequent questions

How long does it take to establish a company?

The time required to set up a company can vary depending on the country and the legal form you choose. In general, the process can take from a few weeks to several months.

What costs should be considered when setting up a company?

The costs associated with setting up a company include registration fees at the Commercial Registry, fees for a lawyer or manager, notary fees, among others. It is important to take these costs into account in order to properly plan the start of your business.

What are the benefits of setting up a company instead of working as a freelancer?

Setting up a company offers you certain advantages, such as limited liability, the possibility of accessing financing, tax advantages, among others. In addition, it allows you to professionalize your business and give it a more serious and solid image.