What are the important steps in setting up a company ?

Entrepreneurship is one of the most profitable activities in recent years. The number of young people who decide to make their plans come true through a company is uncountable. Unfortunately, many of them do not know how to set up a company. In other words, they ask about the different steps that are important in setting up a company. In this article, you will read about the steps involved in setting up a company.

Choosing a legal form

The regular creation of a company is deciphered by several steps. One of the most important steps is to choose the legal form of your company. You can go to the website of Primasia in Hong-Kong if you want to discover all the forms of companies you can choose. To this end, you should know that the law has provided for several legal forms. If you wish to set up your company alone, you can opt for a single-member limited liability company or a single-member simplified joint stock company. If, on the other hand, you want to set up a business with colleagues or friends, you can choose between a limited company, a general partnership or a limited partnership. The choice depends on subjective criteria (quality of the parties) as well as objective criteria. If you meet the requirements for a partnership, you have a free choice. It is therefore ideal to have the advice of a lawyer before choosing a legal form for your company. 

Drafting the articles of association

Drafting the articles of association is also one of the most important steps in setting up a company. In principle, there can be no company without articles of association. It is the articles of association that define the various rules governing the company's activities. The content of the articles of association includes the legal form for which the partners have opted, the corporate purpose, the capital, the various contributions of the partners (contributions in kind, cash contributions, contributions in kind) and their respective identities. In addition, the articles of association must also state the duration for which the company was created and its registered office. All these details are compulsory.