EU Market: Entrepreneurs Are Increasingly Relying on Company Formation Services

Does The EU Market Favour Incorporation Service Providers?

If you are interested in setting up a company within the EU you will surely have realised that there are numerous legal frameworks that you must follow and a plethora of administrative procedures that you must satisfy before this is possible.

Conventionally, this required a significant amount of time (and sometimes capital- if attorneys were involved), which could serve as a massive barrier to entry for a lot of small business owners that did not have the large pool of available funds necessary to finance this in the initial stages of their business’s launch.

Nowadays, however, surveys have shown that companies are increasingly choosing to rely on third-party, specialist company formation services.

These services generally handle a business’s entire registration process much more efficiently, saving the business owners involved a significant amount of time overall and diminishing the risk of a rejected application for a very affordable price.

Below we will look at the top reasons for why entrepreneurs interested in launching their company within the EU should rely on company formation services.

What is a company formation service?

One of the most useful company formation tool that exists is an LLC formation service; this practically covers the prolific amount of legal rigmarole that a business owner (or a business owner’s lawyer) would traditionally have to handle for a relatively low price, and allows all business owners involved to direct their precious time and skillset into other (less automated) areas of their company’s launch

The best corporation formations services usually additionally provide a plethora of extra services and products to their clients. These include:

• Entrepreneurial Guidance– this is both in relation to choosing the most favourable package and in relation to choosing the most effective and beneficial business entity structure for one’s business.
• Increased information– due to the nature of their job, most specialised corporation formation services will entail ex-entrepreneurs and successful business owners. Ultimately, this places them in a perfect position to provide potential customers with answers to any questions they may have (for example, through FAQs).
• Administrative support– this is particularly the case for the providers that include a year-long Registered Agent service completely free of charge with all of their packages, as this can ensure that starting business owners do not miss any important government document or any unexpected service of process form.

• Business bank account– whilst this is by no means a requirement, picking a reputable and conscionable bank to open up a current checking account with for your business can go a long way in building your business’s credit score and potentially allowing you to acquire external financing in the future. Company formation service providers usually provide clients with information as to the best options for their businesses’ size and industry.

Holistic Benefits of Formation Services

All in all, hiring a third-party business formation provider for your business’s formation can allow you to enjoy a very high number of benefits. These include:

• Significantly faster turnaround at a more affordable rate– this is because most incorporation service providers’ specialist teams can complete the incorporation of an individual’s business within one working day (sometimes in as little as 6 hours).
• Increased simplicity and transparency- Due to the high number of clients that company formation providers work with, they follow certain ‘’optimized’’ procedures and protocols which ensure that clients’ business formations remain as simple and transparent as possible; this can make the entire process significantly more straightforward and ‘’user-friendly’’, which can save aspiring business owners significant hussle, distress and time. This is particularly the case when you consider that the process is entirely paperless.
• On-going customer business support- even after a business’s registration process is complete, some providers offer long-term supportive services to their clients (such as legal assistance, consultancy services, and website tech support). This ensures that business owners will- to a certain degree, be able to ‘’streamline’’ their business’s launch for a much larger period of time, without having to worry about complications in the future.

A Final Take

Overall, the relatively low price and strong results of most corporation service providers arguably makes them quite a desirable choice for the vast majority of business owners. Whilst in the past entrepreneurs had to either handle their entire business’s registration process independently or resort to hiring expensive attorneys, this is no longer the case.