Are you planning to start a new branch abroad or establish an entirely new business? The first step is picking an appropriate jurisdiction. Investors want to go to countries that have huge potential and that that can serve as catapults for their businesses to success. One of the most desirable destinations is Macau. This is a special administrative region of China that has won hearts of many because of its stability and support for businesses.
In Macau, the best business formation is a limited liability company. The formation is preferred because personal properties such as assets are separated from the business. If the business gets insolvent or embroiled in a lawsuit, your personal assets cannot be auctioned. This post brings you everything you need to know about company incorporation in Macau.
The company incorporation process in Macau
To incorporate a business in Macau, you need to follow these three major steps.
Request a file name from the Business Registry. This step helps to ensure that the name you pick is unique and does not conflict with other enterprises. It is important to pick a name that rhymes well with the company operations to make marketing and identification easy.
Present the company’s article of association in less than 60 days after the naming certificate is issued. After the 60 days lapse, the name you picked will be released for others to use.
Once the articles of authorization have been submitted to the company registry, the applicant is required to submit other documents within 15 days. These documents include.
- Application for company registration
- A notary certificate of the Articles of Association
- A complete list of names as well as addresses of the board members
- Details (copies of passports and addresses) of the company shareholders
- Letters of acceptance of the company board members
- An M1 for, copy
Once all the documents are issued and the appropriate fee paid to the Companies Registry, they are scrutinized and a certificate of incorporation issued. You might also be required to clarify in case some things are unclear.
Other requirements for company incorporation in Macau include a company secretary. This is the person who acts as the link between the Macau Company and the administration. The person should be a resident in Macau and highly qualified to hold the position.
Using agencies to register a company in Macau
Macau company laws allow licensed agencies to assist people who want to register their companies in the jurisdiction. The great thing about agencies in Macau is that they are run by experts who understand the Macau environment and have huge experience in company registration.
The agencies are allowed to serve as company directors and even their addresses. This means that they help investors cut costs related to placing ads when searching for secretaries or incurring rental costs. You can cut the incorporation related cost by a huge margin by using agencies. Remember that the agency completes the registration without requiring you to fly to Macau.
Because they understand the local business environment, agencies are the best parties to use when entering Macau. Most of them carry progressive studies that investors can use to launch and grow rapidly. In fact, the agencies walk with you all the way to until the enterprise becomes successful.
Company incorporation in Macau is simplified and direct so that investors can enter and start operating in the jurisdiction fast. Whether you prefer to do it on your own or use an agency, the most important thing is getting the documents and the company structure right.