Set up a Company in Moldavia Moldavia offers plenty of incentives and opportunities, having an open policy for international business. In general, there are no relevant restrictions for foreign investors, as they benefit from non-discriminatory treatment. The process of incorporating a Moldavian company may appear as complex, and filled with bureaucratic hurdles, but in fact the procedures are simple, and take few days to be completed. Preliminary activities prior to registering Moldavian joint stock and limited liability companies The founders of a Moldavian company choose a name and verify its uniqueness at the State Registration chamber. This can be done through a personal visit at the institution, or via online inquiry. The founders must also open a bank account and deposit the minimum requested capital in order to obtain a deed certifying the payment. Registering limited liability and joint stock companies in Moldavia In order to register and have a completely functional Moldavian company, the founders of a limited liability company or a joint stock company must file the relevant company documents at the State Registration Chamber. The clerks at the State Registration Chamber in Moldavia verify the uniqueness of the name and the documents provided by the founders, including articles of association, specimen signatures and certification of the bank payment. A response is granted in 5 days, and it is possible that additional information is required for a favorable decision. The State Registrar issues a certificate of registration and validates the certification of signatures, official company stamp and publishes the announcement of the companys incorporation in the National Gazette. Registering with the local Fiscal Inspectorates of the Ministry of Finance In order to register for VAT, the founders of limited liability and joint stock companies must submit an application to the local Fiscal Inspectorates of the Ministry of Finance of Moldavia. The application is sent along with company documents, articles of association, certification of the bank deposit and registration certificate. Registering Moldavian companies with the Statistics Department of Moldavia After issuance of the registration certificate the company must be registered with the Statistics Department of the Republic of Moldavia. Upon submission and acceptance of the application, the institution assigns the company with a statistics code according to the location of the company and the activities established in the companys acts. Registering with the Social Security Fund in Moldavia Upon hiring employees, every company must notify the Social Security fund in order to register and obtain a social security number for each employee. The founders must complete a questionnaire for each employee and present it along with a copy of the employees passport to the National Security Fund, within 10 days of signing the labor contract. Registering with the National Medical Insurance Company Within 10 days of registration, the c ompany in Moldavia must register with the local office of National Medical insurance Companyin order to conclude a medical insurance agreement. Establishing a Moldavian company from abroad Foreign investment in Moldavia is welcomed, as there are few regulations and there are mostly positive aspects. Foreign investment may be realized into all branches of economy of Moldavia, provided that state security and environmental interests are not violated. The Republic of Moldavia does not impose permanent residence for foreign investors, nor does it inflict restrictions to fully foreign owned companies. An authorized representative may establish the company provided he or she has power of attorney. How long does it take to establish a company in Moldavia? Most of the procedures are completed in the same day as the application is submitted, except filing the company documents with the State Registration Chamber, which can take 2 days and registering with local Fiscal inspectorates of the Ministry of Finance. A Moldavian company is established in a maximum time period of two weeks.
Posted on: Sun, 16 Mar 2014 15:15:49 +0000
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