Business formation timeline in Luxembourg
Do you have what it takes to achieve your dreams of becoming a business owner? Understanding the process of starting a company is crucial for a successful beginning, and Luxembourg offers a conducive setting for business ventures. This detailed manual leads you through the steps from initial idea to officially establishing your company, providing projected timelines and valuable advice to help you make informed choices.
A step-by-step guide
We have outlined the essential steps for creating a company, as well as provided an approximation of the time involved and our comprehensive strategies to simplify the process for you. It is important to note that the timeframe for setting up a business may differ greatly, as each company’s registration procedure is distinct and dependent on its individual circumstances and needs.
Define your business plan (1-2 weeks)
Establishing a strong strategy is crucial prior to initiating the necessary procedures. Our team of professionals is ready to provide expert guidance and support in developing a comprehensive business plan tailored to your goals. Schedule a meeting with us to kickstart the process.
Reserve your company name (1-2 days)
Choosing a unique and enduring business name is a crucial part of the marketing strategy. We offer fast and simple name reservation services, ensuring that your desired name is both available and secured immediately.
Draft and sign the articles of association (1-2 weeks)
Our legal team helps in creating and reviewing the essential documents, known as the Articles of Association, which define the legal structure of your company, its objectives, organization, and internal rules, making sure they adhere to Luxembourg’s laws and regulations.
Opening a business bank account (1-2 weeks)
In order to facilitate financial transactions for your company, it is necessary to open a business bank account. You will need to provide identity papers, proof of company registration, and other relevant documentation. Typically, this process takes one to two weeks.
Deposit share capital (1-2 weeks)
In Luxembourg, companies must deposit a minimum share capital based on their chosen legal structure. Our team will help you prepare the necessary documentation and walk you through the steps of depositing the funds into your newly established bank account to ensure that you are in compliance with legal requirements.
Register your business (1-2 weeks)
Enrolling your company in the Trade and Companies Register is a crucial part of the establishment procedure. Our specialized team takes care of the documentation, communicates with the authorities, and speeds up the registration process, helping you save time and energy.
Obtain necessary permits and licenses
Your corporate activities may necessitate specific permits or licenses to operate lawfully in Luxembourg. Our regulatory specialists will assist you in navigating the intricate terrain, pinpointing the required permits, and aiding in their efficient acquisition. The timeframe for obtaining the necessary permit depends on the type of license.
Tax registration (2-3 weeks)
When establishing a company, an essential step is to complete the tax registration process, which involves obtaining a distinct tax identification number. The duration for completing the tax registration process can vary, but typically takes around two to three weeks.
Set up payroll and employment contracts (1-2 weeks)
If you are thinking about bringing on staff, it is essential to have proper payroll and employment agreements in place. Our HR experts can help you with creating payroll procedures, composing employment contracts, and making sure everything aligns with labor regulations, so that you can concentrate on attracting skilled employees.
Establish accounting and bookkeeping practices (2-4 weeks)
It is crucial for any business to keep precise financial records. Our team of accountants will assist you in implementing strong accounting and bookkeeping procedures to meet Luxembourg accounting regulations.
Starting operations
Now that all regulatory requirements have been met, your company is ready to begin operations. The timing of this step can vary based on factors such as the type of your company, the market conditions, and your readiness for market entry.
Form a company with us
Are you ready to begin your business venture in Luxembourg? Contact us now for a consultation and let our experienced team guide you through the process. We collaborate to achieve your business objectives.