Coporation Registration Process

Considering starting your own business? While the process is a quite exciting, it is also rather extensive. Many legal forms will have to be filed, applications send in, permits requested, and you will have to familiarize yourself with the business laws applicable in your state or territory.

Depending on the type of commerce you are trying to erect, the entire process may be quite complicated, and you may find yourself wondering how to find the right answers to your many questions. If that is the case, it may be wise for you to hire professional assistance.

The first thing professional corporate service providers will point out is that you will need a name for your business. Some experts believe that a company name should be focused to reflect your brand, products or services, while others may advise you to be imaginative and pick whatever sounds good. In the end, only your judgment will count.

Once you have made your decision, your proposed company name will have to be checked for authenticity. If another merchant in your area is using the same name, you will have to put your thinking cap back on and restart your search. By law, the authorities can only allow a name to be used once.

Suppliers of professional corporate services specialize in a number of services. They can suggest company names that are relevant to your venue, or verify if a name is already in use. In addition, they can take care of your company registration, set up shelf companies, various trusts, or self managed super funds, and provide other related services that are required in the intriguing world of commerce. These experts can provide either a full service company set-up plan, or limit themselves to partial involvement. How much assistance you will need to guarantee success, will depend on your knowledge and confidence.

Forming a corporation in NY requires utmost planning. The law is very strict in that regards and does not allow any mistakes. Everything has to be filed by the book; making registry mistakes, ignoring vital permits, or forgetting specific certificates can result in very steep fines and big delays. The authorities do not make any exceptions, not even if you are just starting out. They expect all of the registered business owners and managers - including you - to be familiar with all the legal aspects of commerce, regardless if a business is set up as a sole proprietorship (sole trader), partnership, trust or simple company.

Dealing with the government will not be your only concern as a new company owner. You may, for example, need to draft your company's constitution, assign management duties, register members, accept share applications and register them, set up a trustworthy banking system, forecast taxes, sign lease agreements, review meeting minutes, and fulfill a number of other imperative administrative duties. This can be quite overpowering, unless you hire a firm that specializes in company registration.