Requirements to create a limited company: What you should know

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Do you wonder what are the Requirements to create a limited company? Well, here you can find everything about the subject.

If you want to know more about the Limited Company, just keep reading!

What is a limited society

The Limited Company is one of the most frequent commercial entities. Likewise, it can be said that civil society is one of the places where autonomous people come to deposit your money safely. Therefore, it is important to highlight that this type of society does not limit people in any wayRather, it gives them a degree of responsibility.

Typically, people tend to use the most common company to protect their personal assets. But for each of the individuals to be able to access this society, they must comply with the Requirements to create a limited partnership.

Approximately in Colombia and in other countries of the world, there are more than 1.16 million companies that currently use this method. Each of them are constituted under these methods, in order to ensure that at least 40% of the population opts for a legal form.

It is important to highlight that All individuals currently residing in Colombia can opt for this limited partnership.

Advantages of a limited partnership

However, even if people have a limited company, they should be aware that beyond responsibilities, they have advantages.

Some of the main ones are:

  1. They can have the capital stock with a minimum required of approximately 3,000 euros.
    1. This is very important, since in general the costs of setting up a company can reach up to 6 thousand euros.
  2. It is not a type of entity that, in turn, forces people to unite with others, that is, it can be a type of sole proprietorship.
  3. It exempts all types of people from taxes as long as they have exceeded 40 thousand euros in benefits.On the other hand, only those taxes that are lower than those that are paid autonomously can be paid.
    1. Each of the people at the time of listing the different companies have a fixed price of 25%.
    2. Those people who are autonomous, as they have to talk about a progressive tax such as personal income tax.
  4. People who have a civil society, can set their salaries at their convenience, only to later deduct as an additional expense of a company.
  5. Compared to any autonomous type, the Limited Company can create easy accesses at the time of:
    1. Cover access to any type of Bank financing.
    2. Present the different types of Bank credits.

These are each of the benefits and / or advantages that people have at the time of relating to a Limited Company.

Even so, it is important that people comply with the Requirements to create a limited partnership, to stay in it and have the benefits.

Requirements to enter a limited partnership

The requirements to enter a limited partnership are:

  1. Present each of the Company Bylaws. Each one of them must be valid on the date of the procedure.
  2. It is important that each person complies with the Negative certification from the central commercial register. Since it is one of the most important certificates where it is approved that the company has a net bank account.
  3. Comply with submit Bank Certification of the contribution of money based on the Social Capital.
  4. Each person must present the original ID, This is a mandatory document.
  5. Present the Foreign Investment Declaration, only in those cases where the persons are foreign-type partners.

Steps to follow

Those people who for their part want to stay and register in a Limited society, must comply with the following steps:

  • Register the company name

First of all, people must register the name of their company, for this each one must appear before the Central Mercantile Registry.

Likewise, they can arrive and request cvad one of the certificates in a negative way based on the company type designation.

This is where people can certify that this name has been chosen as unique.

It should be noted that this type of procedure can be done through a web page.

For this it is recommended to visit the following link, Limited Company Registration.

  • Open a bank account

After people have obtained the certificate, they must open a bank account, where the main beneficiary is the company.

This means that everything must be in the name of the company, so to start individuals must deposit a minimum of 3,000 euros.

Each of these deposits is requested so that the same people can become a capital in a social way.

Once the deposit has been satisfactorily completed, the same bank will deliver a certificate of deposit.

This entry certificate cannot be voted on, as it will then be presented at each of the notaries.

  • Drafting of the bylaws

It is here where the partners have to be in charge of being able to draft each and every one of the Bylaws.

This means that the set of different rules can manage the company in the way they want.

Likewise, they must establish the set of norms that will be incorporated later than that of a public deed of said institution.

It can be said that the easiest and most obvious for this process is that each of the people can go to one of the Entrepreneurs Support Points.

This is a very simple type of meeting, since each and every one of the people can be advised on each of the things that they should include.

It is important that all partners agree to establish the same standards.

Since to be able to change them later, it will be more complicated, and they may have to start the process again.

In general, people who are in society are required to place a main sketch, and then process it officially.

  • Public deed of the constitution

Each of the forms of the deeds can be presented at a more public level, where the constitution of the Limada Society presents it to the notary public.

Likewise, each of the people must be present, especially those that are made up of more than 2 people.

On the other hand, people who are a one-person company can go alone or accompanied by someone they trust.

However, in order for them to be presented, they must first bring:

  • Present each of the Company Bylaws. Each one of them must be valid on the date of the procedure.
  • It is important that each person complies with the Negative certification from the central commercial register. Since it is one of the most important certificates where it is approved that the company has a net bank account.
  • Comply with submit Bank Certification of the contribution of money based on the Social Capital.
  • Each person must present the original ID, This is a mandatory document.
  • Present the Declaration of foreign investments, only in those cases where the persons are foreign-type partners.

How to create the limited company and what do I need?

As is well known, the Limited Company is one of the most important entities that are currently in Colombia. Since it allows the population to control each of their personal assets in a more adequate and secure way.

For this reason, many of them have decided to bet on creating a limited company where, in the same way, a series of requirements and steps must be met.

Among the most important steps are find:

Registration in the commercial register

Each of the people who, in turn, want to start operating, some kind of mercy, as they must go to the nearest commercial register.

Normally the people of the province must make sure that the same bank is behind the province.

For this, it is important to provide the following documents:

  • Present an authentic copy of the deed of incorporation of the Company. This document must also be submitted in original, to review it.
  • On the other hand, people must carry the negative Certification based on the company name. This procedure must be in force at the time of delivery.
  • Each person must have a fully credit Document for having settled each of the Taxes related to Patrimonial Transmissions.
    • Likewise, people must present the credit documents for each of the taxes of the Documented Legal Acts.
  • Present a Copy of the Provisional NIF, where each of the companies belonging to the company can be verified.

Obtaining the final NIF

Once people have submitted the previous step, what remains is to obtain the final NIF.

This is one of the procedures that are usually carried out automatically. It is here where people can apply for licenses at the town hall.

These licenses are related to the activities that correspond to the social security workers.

Video

Here is a video where people can learn a little more about the limited partnership and its responsibilities.

Thanks for reading!

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