Business activities regulation

Regulation of business activities is a set of legislative measures and rules developed by the government bodies of each country and even the state / province / canton, which represent the influence of the state on the company's activities by adopting regulations, organizing control over entrepreneurs’ compliance with legal requirements and using incentives and remedies in case of breach of these requirements. A regulated business means an organization that must be certified, registered or licensed. 

The business world is becoming more complex and demanding. Legal regulations for registering a company in Europe, Asia, on other continents have their own peculiarities. Therefore, if you want to enter new markets, it is important not only to have a business idea and a well-thought-out business plan, but also to follow a number of practical steps, to be aware of the requirements for registering companies in different countries, which are imposed by this or that regulatory institution. 

 Launching a startup in a foreign jurisdiction is a difficult task in terms of understanding the legal formalities, requirements for obtaining licenses and permits from various government departments, both at the stage of starting a business and directly in the process of doing business. Therefore, competent legal support for business is one of the main indicators of success.

Before planning a business activity, it is important to order legal advice on comparison of jurisdictions for starting a business project. Since prior to starting a business, it is necessary to study the market well and understand the initial costs for setting up a company in Europe, Asia and other continents. If a project has already been launched in one country, please note that this does not mean that it can be launched with the same simplicity in another country. The rules for regulating business activities in different jurisdictions have their own peculiarities. That is why it may be rational to request advice on selection of a legal form for registering a company and identifying a winning investment strategy.

Legal regulation of business activities 

Business regulation differs from one jurisdiction to another, so starting a business requires careful planning. If we consider the regulation of business activities on different continents, it is also important to consider the fact that different states impose different legislative and customs standards / rules. All this can create insurmountable difficulties both for start-up entrepreneurs and for those who are already running a successful business and planning to expand it, but are not aware of the requirements of the jurisdiction where the business expansion is planned.  

In addition, the frequent change in legislation (for example, various amendments and new developments) is one of the key factors that can affect the development and growth of a business. This is especially true for companies that operate internationally. Regardless of whether you are a first-time entrepreneur or an already experienced player who wants to expand your business on a global level, it is reasonable to order comprehensive legal support for business activities, during which you can get competent solutions to the set tasks. 

 Moreover, in order for a business to achieve the planned growth and development in a modern economy, an important stage is building constructive relationships with partners, co-founders and regulatory authorities. Launching a startup in the USA, Asia, Europe, Africa, Australia requires coordination with local regulatory authorities. For that very reason subject-matter experts should be engaged in the development of corporate documentation aimed to comply with the requirements of the regulatory authority of the country chosen for registering a business. 

 Also, those interested, for example, in launching an investment project in Africa, should be aware that each region, each country and even a county / state / canton / province may have their own mentality and cultural differences. It is important to take this into account in the negotiation process and, again, in the process of coordination with the regulatory authorities, and find an appropriate approach. Qualified specialists will be able to help you with this; they will not only consult on clarification of the requirements for registering a business in a particular jurisdiction, but also provide comprehensive support at all stages of launching a startup in Asia, Europe and other continents. 

Selection of jurisdiction and legal form of business

Registration forms may differ from state to state. Selection of a jurisdiction for incorporating a company requires an understanding of all the intricacies of doing business in the country chosen to launch a startup or expand an existing business, an understanding of the main ways of interaction with regulatory and supervisory authorities, and knowledge of the specifics of the tax system. In this case, both first-time entrepreneurs and experienced businessmen cannot do without the help of qualified experts who will provide advice on choosing the optimal organizational and legal form, taking into account the specifics of your business.

In addition, before you decide on the structure of your business, you should analyze its viability, which involves the preparation of   budgets, forecasts and cash flows. This could mean identifying best and worst-case scenarios and possibly abandoning the idea or refining the product / services. Another nuance in the growth and expansion of entrepreneurial activity is that each OPF has its own characteristics (this is both a legal status and permitted areas of activity, and an internal corporate structure, etc.). Business consultants provide assistance in preparing the necessary corporate documents for registering a company and support at all stages of business registration in the chosen jurisdiction.

Choosing the right legal structure is a necessary part of doing business. Whether you're just starting your own business or your business is growing, it's important to understand your options. In addition, the choice of a legal entity affects personal liability, which is also important to consider when incorporating a company in Europe, Asia, and other parts of the world. 

Thus, partnerships have a dual status as sole proprietorships or limited partnerships. In the process of registering an LLC in Europe or, for example, Asia, members are protected from personal liability for business debts. In the case of   creating a corporation in the United States, such business structures can sell shares in order to attract additional funding, while individual entrepreneurs can receive funds only through personal accounts. To do this, they can use a personal loan or hire and involve partners.

Peculiarities of registering a legal entity in various jurisdictions

Government regulations for business require companies to comply with federal, state, local statutes controlled by the legislative authorities. Some regulations affect the way companies report income and pay taxes, others regulate the processes of company liquidation. There are government rules for all and any business dealings. Regardless of whether you are just starting your own business or you are already an experienced professional in business, you should seek the help of qualified experts and request legal advice on regulating business activities to avoid unnecessary financial losses. 

Although a legal entity will always be defined as a company or organization with legal rights and obligations, its final form may differ. And even though the definition of legal entity is technically the same across different jurisdictions, form and types may look different and have different regulatory and governance implications. That is why entrepreneurs need legal support for business activities.

Factors to consider before choosing a business structure

It is not always easy for new businesses to decide which structure to choose, as financial needs, risks and opportunities for growth and expansion must be considered. Moreover, after registering a business on the Asian continent or in other parts of the world, it can be difficult to change the legal structure, therefore a detailed analysis of the structure is necessary at the early stages of starting your business, which can be carried out as part of due diligence of the company and its assets.

Some of the most important factors that should be taken into account are the responsibility of the founders, the possibility of obtaining tax incentives, the need to obtain various licenses and permits. As for the latter, special licenses and permits may be required both at the stage of setting up a company abroad and in the process of doing business. Depending on the type of business, licenses may be required at the local, state and federal levels, which must also be taken into account when getting acquainted with the issues of business regulation in different countries.

Activities requiring regulation and licensing

If we consider specific areas of activity by country, then it can be noted that in different jurisdictions the regulation of the same business areas may differ. For example, if we consider the regulation of crypto activity in Europe (by country), then in some countries the government is friendly to activities related to virtual currencies, in others - such a business may be poorly regulated or unregulated. Thus, cryptocurrency-related transactions are prohibited there. 

For example, friendly countries for launching a crypto project in Europe:

• United Kingdom.
• Estonia.
• Georgia.
• Malta.

Nevertheless, the requirements for regulating cryptocurrency projects in European countries are different. Some governments define virtual currencies as legal tender, while others are only introducing a comprehensive framework for their regulation. 

The same applies to selecting a reliable jurisdiction for registering a payment company and, accordingly, obtaining a license for such activities. In this case, Asian countries are the most popular and progressive in terms of legislation. Therefore, it may be beneficial to register a payment service company in Singapore or obtain a payment service license in Hong Kong. It should be borne in mind that you still need professional legal support in registering a payment institution in Asia, since this area requires a clear understanding of the legislation of the country chosen to launch the project.  

Registration of a logistics company in Europe, Asia, USA is one of the most popular requests today. As with any regulated business, these companies require a license to operate. Support in the registration of a logistics company, taking into account all the requirements of the legislation of a particular jurisdiction, can be provided by subject-matter  experts of our company.

Registration of an IT company in Asia, Europe or the United States opens up opportunities for growth and international expansion. We are aware of the regulation of IT activities in different countries and are ready to provide:

• Support in registering an IT company in Singapore.
• Support in starting an IT startup in Hong Kong.
• Support in setting up an IT company in Delaware, Wyoming, Nevada.
• Support in starting an IT startup in Estonia, Georgia, Portugal, UK.

One of the most difficult areas in terms of legislative regulation and licensing is the medical industry. Obtaining a medical license in different countries is one of the most difficult processes. Licensing ensures that services will be provided by companies with the utmost compliance with competency standards. The regulation of the medical industry in different countries is carried out by a variety of national authorities with different regulatory powers. Due to the complexity of this process, the right decision is to get advice on the regulation of companies with a medical license in different countries and, as a result, getting support at the stages of registration and obtaining such a license.

Another equally difficult and time-consuming process is obtaining a banking license in a popular jurisdiction. To do this, you need to know and understand the legislative nuances and peculiarities of regulation of a particular jurisdiction. It is recommended to enlist the support of professionals who, for example, have established contacts in the UK and are ready to provide support in the process of registering a banking institution in the UK. 

Specialist support

The team of IncFine specialists offers clients the following services:

• Consulting on the choice of the jurisdiction, optimal organizational and legal form, taking into account the specifics of your business.
• Assistance in choosing the optimal corporate structure for business management.
• Consulting on the compliance of the company's activities with licensing requirements.
• Legal support in the preparation of corporate documents and advice on introduction of amendments into statutory documents.
• Due diligence of contracts.
• Consulting on options for fund raising for startups.
• Consulting on the organization of work with payment systems.
• Support in contractual arrangements with partners, co-founders, representation across government authorities.