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Many investors always think that doing business in general and company registration in Europe in particular is not an easy thing for foreigners. However, if you know the things to keep in mind in this article below, Europe will no longer be an out-of-reach market.
In the second quarter of 2021, the global economy - specifically Europe - has witnessed a steady growth. The reason for this is that many countries have brought the Covid-19 pandemic under control by implementing a series of social distancing acts and speeding up the vaccination process for workers. With virus prevention measures being eased, the European economy is expected to grow significantly in 2022. This has alleviated investors' concerns when registering a company in Europe.
After a long recession due to the pandemic, the EU economy is expected to grow significantly
After a long recession and struggling due to the epidemic, in the latest report, the International Monetary Fund - IMF raised its growth forecast for the Eurozone in 2021 to 4.6%, higher than the level forecast to reach 4.4% in the April 2021 report. This extremely positive forecast is thanks to an effective disease prevention strategy that has reduced the number of new infections, helping EU member states to reopen their economies and restore key sectors, especially the service industry.
According to preliminary data from Eurostat, in the second quarter of 2021, the gross domestic product (GDP) of the EU member economies increased by 13.7% over the same period last year and by 2% compared to the previous quarter this year. Its survey also shows the speed of recovery among Member States varying on a wide scale. Some countries are expected to return economic output to pre-pandemic state by the third quarter of 2021, while others will likely take a longer time to truly recover. Among the member states, Germany, France, Italy and Spain will most likely have significant growth rates, which are forecast to increase by 3.6%, 5.8%, 4.9% and 6.2% in 2021, respectively.
Quite a few investors are hesitating to register a company in Europe at this period of time due to many objective factors. However, reality is proving the opposite, that now is the right time to invest in this market.
Consumer spending in Europe in general is growing again as the social distancing order is gradually being lifted. EU member states have been spending a lot of money on helping small and medium enterprises, at the same time issuing new agreements and policies to help find new foreign trade partners to avoid supply chain disruptions. It is considered to be the right time for a company registration in Europe.
Financial experts predicted that the Fintech trend will keep on spreading in the EU market.
Registering a company in Europe will bring huge profits to your business, especially in the context that the EU has many policies to promote foreign trade and stimulate FDI. Moreover, the outstanding development of information technology as well as the Internet in the EU is creating more and more conveniences, facilitating people's lives. Since then, the trend of fintech, the application of financial technology software to the banking industry, has made it easier for customers to perform international monetary transactions. As predicted by financial experts, this trend towards information technology and Fintech will become stronger in the EU market. Therefore, registering a company in Europe, operating e-commerce or providing IT and Fintech services to catch up with this trend is a far-sighted strategy.
You can form an EU company directly with the authorities, or through the online company registration in Europe system. No matter which registration method you choose, the application and related documents are similar. Just follow the basic steps below, company registration in Europe will become easier than ever.
You should prepare yourself 2 to 3 company names in advance, in case yours are registered previously. Usually, the EU countries have websites where you can check if your company name is already registered. The registration of a company name is an important and necessary step for company registration in Europe. If your business is involved in copyright-related disputes, it will greatly affect the reputation and image of your company in the eyes of customers.
The reputation and image of your business is intimately connected with your company name
The European company application form is available for free on the website of the Government Authority of the country you want to start your business. In addition to the agreement and charter used when registering a company in Europe, the company must submit the documents listing the information mentioned in the application forms and send it to the Government Authority, including:
You can completely choose between direct registration or online company registration in Europe as long as you prepare all the necessary documents and information.
There are many fees for reviewing registration documents depending on how long you want. Fees will be higher if you want your application to be approved faster. At the same time, the fee applicable for online company registration in Europe is also different from in-person registration at the agency. Therefore, you should research carefully before applying.
The company must contact the Tax and Customs Authority and register for business tax or other obligatory ones. Activation is done online immediately, the company will be issued a PIN within 1 week and must activate it within 28 days.
After providing all required documents, the certificate of company establishment will be sent to you within 1-2 months depending on the type of your business.
With specific market data as well as 4 basic steps when registering a company in Europe, we hope to have provided you with the most useful information. Make sure you decide to register a company and start investing after having a long-term business plan to avoid investment mistakes.
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