Company Formation

Starting a business

If you have a great idea for a new product or service, you can start a business. Starting a business is essentially something you can do overnight. All that is required is a visit to the Chamber of Commerce. However, since starting a business has several far-reaching consequences, especially in the field of finances, taxes and liability, it needs careful consideration. The points to consider are as follows.


Setting up a legal entity

A legal entity is a legal fiction. It is an intangible person which can have rights and obligations just like a living breathing person. It is a container of sorts, it can contain assets, rights, have debt, etc. However, as it is non-corporeal, it must be represented by a living person who can act in the real world on behalf of the legal entity.