Support in obtaining business permits
Getting a business license at the federal level, as well as permits in specific states, cities or counties is required for a new business. The purpose of both business licenses and permits is to ensure consumer safety and transparency of operations. Some countries may set specific requirements for getting a business license.
New business owners or individuals need to collect documents, as well as apply for a business license if they wish to expand the activities and conquer new markets. Firstly, a license fee must be paid and then it will be possible register a company abroad, which will conduct regulated activities (as set out by the law of a particular jurisdiction). Due to the fact that it is necessary to know and understand the legal formalities of the permitting process from different government agencies, it is important to enlist the support of experienced professionals. In this case, you may need competent legal support for the business, in particular at the stage of obtaining the appropriate permits.
A business license and its benefits
A business license is a government-issued document; it proves that the business is safe, legitimate. Its type depends on the type of entrepreneurial activity. The license - the final step in the process of registering a company abroad.
Government agencies require new companies to file a name registration, choose a legal structure and register with the tax department. Once these steps are completed, the business owner can apply for the appropriate business licenses. Also, an already registered company may require certain permits or concessions in the process of carrying on the business. Without the help of professionals, it can be quite difficult to go through the licensing process in a given country, especially if you are unfamiliar with the legislative environment.
In addition to making a business operate legally, licenses enhance trust. Other benefits of obtaining business licenses in different countries include the following:
1. Legal protection.
In order to obtain a business license, a company must meet all the regulatory requirements. Application for a license guarantees the following: the infrastructure, plans and policies of the new business owner are carried out in accordance with legislative rules. In addition, most countries legally obligate businesses to get licenses.
2. Obtaining funding.
In many countries new companies are offered funding by governmental agencies, particularly for launching a startup overseas. To be considered eligible for funding, an entrepreneur must have a business license proving that his business activity is carried out under legislative rules.
3. Tax rights.
Since a licensed business (an entity) is separate from its owners, the filing of the company’s taxes is done separately from the members’ personal taxes. As a result, it makes profit and business loss reporting much.
4. Protection for the owner, employees, clients.
Business licensing protects the founders, as well as gives customers, employees and other interested parties the confidence that the business is being conducted in a legal manner.
5. Licensing is a competitive advantage in certain sectors.
On every territory there are different requirements and regulations regarding the licenses for business activities. If one fails to comply with them, it might give rise to several consequences, for example, fines, late fees, and refusals to work. Therefore, it is important to determine the required licenses and permits. One might need help from professionals who provide support at every stage of licensing.
Filing requirements can be different; they depend on the type of business. Moreover, some businesses require additional permits. Everyone interested in starting a business abroad must understand what licenses are required before the start of any activity. You will likely need to consult with an experienced expert to ensure proper compliance with the legal rules of the jurisdiction, which is chosen for registration and business conduction.
Business licensing methods
If you decide to set up an LLC in EU, start a corporation in the USA, you need consider that there are countries that give a business licenses at the stage of registration. It should be noted that licensing and company registration are carried out simultaneously in case of opening a company in Dubai. In other countries the licensing is regarded as a separate step in the incorporation procedure. Nonetheless, some jurisdictions issue a business permit upon completion of the process of registering to do business abroad.
Meaning of business licensing procedure in another country
It is believed that more stringent requirements are imposed on foreigners if they want to set up a company in a foreign jurisdiction. Indeed, more and more countries are offering friendly terms to foreign entrepreneurs. Procedure for getting permits to conduct business abroad can be long lasting due to its dependence on the industry of company’s operation. For sure, the authorities will check the new company, which is registered in the financial sector in Europe or Asia, several times before business license is given.
The needed documents for obtaining a business license in the USA, Europe and other continents will greatly depend on the economic sector. For instance, if an entrepreneur wants to register a company in China, he may need more paperwork, which is used by government agencies issuing a business permit for verification of business legality and safety. The documents required to apply for a business permit include: certificate of registration, the incorporation documents of the company and specific forms required by the agency responsible for licensing.
An important aspect to consider by those who would like to register a non-resident company in Asia, Europe and the United States: there have been created online systems for obtaining business licenses in a lot of countries and this allows to simplify this procedure to the maximum extent possible.
Types of business licenses one should be aware
Business license types: ordinary permits (for instance, licenses issued by the Trade Register) or licenses issued by municipal authorities. The latter may require the obtainment of municipal permits for fire safety. Every foreigner who plans to register a company abroad will need to apply for standard licenses regardless of the field of activity.
Besides, there are special business permits. They are issued by specific authorities. For example, licenses required to operate in the food, construction industry, and others, belong to this type. Some professions require special permits. For instance, a license for medical practice (a special business license) must be obtained.
Support in obtaining permits for business activities: areas and countries
If we consider licenses for specific areas of activity and corresponding countries, then we can focus on the following most popular requests as of today.
Obtaining a license of the payment system.
If you want to provide payment services, you need to obtain a payment service provider license. If you are at the stage of choosing a favorable jurisdiction for registering a company for payment services and, accordingly, obtaining a license for this activity, then you can might be interested in the following:
- obtaining a payment system license in Singapore;
- obtaining a Hong Kong license for payment services.
Since this is an area that requires a clear understanding of the legal system of the country selected as a place of incorporation, legal support (provided by dedicated experts) in obtaining a payment institution license in Asia will help successfully register a business by fulfilling all the necessary licensing requirements.
Obtaining a license for a logistics company.
Business management requires not only a proper assessment of a business, but an established communication as well.
If you have decided to register a logistics company in Europe, a license will be needed for such a company since it is the regulated area of business.
This activity may be promising particularly in European jurisdictions. Support in obtaining a license for logistics services in Europe is most in-demand in such countries: Ireland, Switzerland and Luxembourg. If we consider Asia, then support in registering a logistics company in Hong Kong, as well as obtaining a license for this activity are popular requests in 2021.
Obtaining a license for an IT company.
Registration of an IT company abroad opens up many opportunities. However, the location of a new company in the IT services industry directly effects the business development. There is a number of factors to consider when launching an IT startup abroad, including but not limited to the requirements for the activity licensing.
The most demanded requests, which are addressed to the specialists of our company and for which, undoubtedly, a license is needed, concern the following:
- Support in opening an IT company in Singapore.
- Support in registration of an IT business in Hong Kong.
- Support in setting up an IT company in the USA, Delaware.
- Support in opening an IT company in Europe, namely, Georgia, Portugal, Estonia, Ireland, England.
Digital technologies stimulate the development of related markets, such as the market for virtual currencies and fintech projects. At the same time, modern technologies and methods of their implementation require innovative solutions in legal matters. Competent legal support for blockchain and crypto projects can help ensure the launch of such a startup within the legal framework. The main feature for these areas of activity is that, in general, most of the modern blockchain and crypto projects are either not regulated in the legal context, or partially regulated. Accordingly, there may be problems with obtaining a crypto license in different countries.
The presence in different jurisdictions of special regulating agencies that have their own interpretation of a specific project or area related to virtual assets is another aspect of projects support in this field. Our company's services for Blockchain, Crypto, IoT and Fintech projects are not limited to performing one specific task for the client. We provide legal support for a Fintech project at all stages, including at the stage of obtaining permits or going through licensing procedures.
The most popular jurisdictions for obtaining a cryptocurrency exchange license are:
- United Kingdom.
- Hong Kong.
Obtaining a license for exploration and mining.
The exploitation of mineral deposits is one of the most popular areas of entrepreneurial activity. This industry attracts thousands of entrepreneurs around the world every year. For example, if you want to call in for support in obtaining a license for the exploration of minerals in Africa, then we suggest considering the following countries:
- support in obtaining a license for exploration of minerals in South Africa;
- support in obtaining a license for the exploration of natural resources in Mozambique;
- support in obtaining a license for a mining company in Kenya;
- support in obtaining a mining license in Namibia.
It also makes sense to consider such African jurisdictions as Lesotho, Nigeria, Zambia, Mauritius, Botswana, Cameroon. The governments of these countries are developing and implementing legislation aimed to improve the level of regulation of the mining industry in Africa, as well as offering a number of tax incentives.
Obtaining a medical license.
The process of obtaining a medical license in different countries is one of the most complex and time-consuming processes. Licensing is intended to ensure that professionals achieve the highest standards of competence. The medical industry is regulated by many different national authorities. These range from government ministries to self-regulatory professional organizations with different degrees of legislative regulation. Please have a look at the list of countries that we propose to consider for obtaining a medical license in Europe:
- support in obtaining a medical license in Germany;
- support in obtaining a medical license in Sweden;
- support in obtaining a medical license in the Netherlands.
No less interesting, but no less difficult, is the process of obtaining a medical license in the United States. Due to the complexity of this process, a reasonable solution is to consult and request support from dedicated experts.
Obtaining a broker license.
Today the international foreign exchange market has thousands of permanent participants. Forex brokers - a special group of participants in such trading relationships. If you are looking to start a FOREX broker business, you will need a Forex broker license because most businesses prefer to work with a regulated entity due to security reasons.
There is a great number of regulatory agencies, which requirements vary significantly. Therefore, it is important to understand that licenses issued by different regulators are not equivalent, and knowledge of the legislation governing this industry is of key importance. That is why it is worth resorting to the help of subject matter experts if you have decided to order a Forex license.
The following jurisdictions can be considered for obtaining a Forex broker license in 2021:
- United Kingdom.
- and USA.
Obtaining a banking license.
If you want to obtain a banking license in a reliable jurisdiction, it is important to consider that this will take a long time. This is a complex process that requires knowledge of all the legislative nuances and peculiarities of a certain jurisdiction. That is why it is recommended to enlist the support of a team of professionals who have established connections in the jurisdiction where you have chosen to register a banking institution.
If you are interested in the most suitable one for obtaining a banking license, it is worth considering the following options:
- Opening a bank in the USA.
- Obtaining a bank license in the UK.
- Obtaining a banking license in Singapore.
- Obtaining a banking license in Hong Kong.
- Opening a bank in the Czech Republic.
- Registration of a bank license in Switzerland.
Obtaining a gambling license.
Obtaining an online gambling license is an attractive business idea for many entrepreneurs. The online gambling market is viewed as one of the most profitable areas of business today due to its constant growth. Gambling license application is a complex and lengthy process.
There are certain markets that you cannot operate in; they are determined by the licensing authority of the respective jurisdiction and can change. Therefore, the right decision would be to contact the professionals who will provide you support in obtaining a gambling license in different countries such as Europe, Asia, and the USA.
If you are thinking which jurisdiction to choose for online casino licensing, you might pay attention to the following:
Any professional economic activity requires preliminary permits for its functioning. Most businesses require a combination of federal and state or local licenses and permits. Requirements may vary depending on the business, its location and government regulations. Therefore, it is important to get professional legal support for the business, as well as at the stage of obtaining the appropriate licenses, permits and concessions.
Dedicated experts of IQ Decision UK provide consultations on the regulation of business activities in different countries, including but not limited to obtaining the appropriate licenses.