Business Start Up
It would be advisable to plan your business structure prior to forming a company - this is a never returning chance to get everything right from the start.
Company structure planning*
Optimise costs, reduce administrative expenses, tax burden and of course minimise risk and personal liability by choosing the right company structure / jurisdiction.
Optimised company structure*
By analysing each individual client's business needs and personal situation carefully
Futuramax provide business start up advice. Depending on client's preferences, we point out available company formation options considering the best jurisdiction, minimised liability, tax and administrative burden for your business project.
Facts to consider *
Personal situation / number of the founders:
This matter is of essential importance when it comes to drafting the memorandum and articles of association or membership and operating agreements. Using either proven templates or custom-made contracts helps to prevent future disputes between the business owners and ensures company continuance even if one of the founders retires or passes away.
Customer proximity / market credibility:
Neither will a sole trader from France be able to generate considerable business in the United States (simply because of lack of acceptance from local suppliers and costumers) nor would a US based company perform well in China. On the other hand, if a Japanese company formed a local PLC in the UK just for dealing with EU customer support, they could easily end up in high administrative expenses. Market credibility is one of the key issues today.
Limitation of liability:
Choosing the wrong corporate structure or using badly drafted company agreements can put the owners personal assets at risk. A proper established company structure however can be your life line in troubled times.
Keeping administrative expenses low:
Futuramax advise on which legal form to chose and how to keep the local administrative burden to a minimum while still creating a suitable presence in the country.
Choosing the wrong legal entity form in your country can result in considerable amounts of additional taxes to pay. Globalism in mind things get even more complicated: In addition to a suitable corporate structure the founders would need to find a suitable jurisdiction where to establish the business. Tax optimisation - within the scope of legal possibilities - is not only an issue for global players in these days. Increasingly small and medium sized companies relocate their head offices or establish holding companies in low-tax jurisdictions.
We know it can be difficult to protect assets if your country does not offer any asset protection to entrepreneurs or if you need to establish a new company after experiencing financial difficulties (especially if you are based in the European Union). Futuramax advise clients how to protect assets using a corporate structure.
Futuramax are an independent business consultancy company
. Many years of practical experience in company setup, international company management and administration and a global network of external experts enable us to provide clients with comprehensive, yet cost-effective solutions to their corporate requirements.
We work with our clients, not for our clients (unlike the so called "corporation-mills"). Clients can either choose to integrate their local lawyers and tax advisers in the formation process or we can refer clients to external experts.
Information available to founders
Information from the internet:
General information never substitutes personal consultation based on individual situation! Beware of simple, "will-do-for-everyone-solutions" promoted by many ruthless company formation agents.
They can advise regarding your financial planning, however they might not have the practical approach to advise which company structure to choose.
Chambers of Commerce:
Do not expect independent advise from them, they will be more interested in new members or referring to one of their members. This might be fine if you plan to setup a local business, but when it comes to international business local firms often use other firms in the jurisdiction of incorporation and they won't do it for free - you pay additional fees.
: Some banks have dedicated business advisers. Expect them to convince you to choose a company structure which gives the bank maximum security - not yourself.
Your local solicitor:
Listen to her/his advice, she/he can advise regarding requirements and compliance in your country.
Your local tax adviser:
Can inform you about local tax regulations. It makes sense to integrate her/him in your company planning.
* Futuramax are specialised in forming companies worldwide, company administration services and bank account opening. We are neither solicitors nor tax advisers and recommend to discuss business start-up with
your solicitor / accountant before contacting us. Upon request we might be able to refer clients to associated solicitors and accountants.