India is one of the fastest growing economies in the world offering online services and goods at a highly competitive […]Read more
Advantages of registration for online businesses
Online business has become a major part in commercial industry. You can easily start managing business online offering services and products. Before you start operating online, it is essential to comply with formal requirements.
- Register your business
Depending on the jurisdiction, it is possible to operate as a sole trader or register as a legal entity. There are many forms of legal entities and they differ from jurisdiction to jurisdiction. Before you make a choice, it is essential to seek a recommendation from a legal and tax advisor on the most appropriate legal form for your business needs. When choosing a legal form, it is essential to analyze tax rates, requirements connected with a number of directors/shareholders, minimum charter capital requirements, business owner liabilities, etc.
- Taxes and Accounting
When operating business online, you have to pay taxes, other fees and keep accounting. Depending on the company size, you can hire an accountant or outsource accounting issues to a third party service provider.
- VAT registration
Remember that in certain jurisdictions if you sell goods and offer services, you have to obtain a VAT number and register with local governmental bodies.
- Opening a bank account
An online business is obliged to maintain a bank account. Luckily, many banks offer an opportunity to open business accounts online.
- Choosing a payment gateway for your website
Choosing an efficient and useful payment gateway is very important as your buyers and clients will use it to process payments. There are many payment systems available for e-commerce industry, some payment systems operate in specific geography location or work with particular markets.
- Legal documentation
- Other requirements
You may also consider buying a business insurance to protect your business. Some businesses require to obtain licenses or permits to operate lawfully.
These are only a few things to consider to start a successful e-commerce business.
You have great services & products to sell, and your web-site is already online. But how to get paid?
You need an e-merchant account and It's possible only if you have a registered business.
Here are 3 steps to success
Set up a merchant account
Sell your services or products online
Not sure what kind of jurisdiction to choose?
answer a few questions and we'll help you to find the best possible solution
Best jurisdictions for Online business
Registered 56 companies
Registered 38 companies
Registered 29 companies
Registered 35 companies
Registered 43 companies
The Marshall Islands
Registered 56 companies
Registered 71 companies
Can I open a bank account in any jurisdiction?
Individuals and legal entities, regardless of their country of residence or incorporation, are free to open bank accounts in any jurisdiction. However, some countries have their own requirements and peculiarities that differ from jurisdiction to jurisdiction. For example, Estonia is one of the most popular jurisdiction for e-commerce business, but currently Estonian banks open corporate accounts only to companies whose founders are residents of Estonia. If a company is incorporated in Estonia but fails to open a bank account in a local bank, we suggest opening an account in another jurisdiction.
Some jurisdictions require the mandatory personal presence of directors or founders of a company at a bank when opening a corporate account. However, certain banks that have branches in several countries may be visited in any convenient office. You can find some banks that offer services of an on-site representative of the bank.
Because each bank in different jurisdictions may have its own requirements, it may take a long time before you find a suitable one. We recommend to seek advice on this matter as only professionals may effectively offer you banks that take into account your requirements and preferences.
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