The registration of a newly founded local company with take approx. 13 business days from the submission of the respective registration application once all supporting information and documents have been obtained, which will also require the arrangement of an Austrian bank account and the payment of the relevant share capital contribution amount.
Usually 2-4 months for a WFOE but fast-track solution is available. Time consuming aspects are, for example, notarisation and legalisation of required documents, as well as the required government processes. Legalization requirement could become a problem during pandemic season, but manageable.
An EJV usually takes longer to negotiate.
Limited liability company/joint stock company:
Formation of a new entity: it takes approximately two to four weeks from the establishment by notarial deed to registration of the company with the Commercial Register (depending on delivery of all necessary supporting information and documents). The notary can also register a new company directly with the Commercial Register, which can speed up the registration process.
Alternatively, a shelf company can be acquired, which takes around two to three days.
Approximately two weeks (depending on the delivery of all necessary supporting information and documents).
England & Wales
Within a working day
Within one to two working days once the documentation is completed.
The overall process takes typically one to two weeks.
It takes eight to ten days following the filing of all legal documents.
- Formation of new GmbH: up to four weeks, plus the time to set up a bank account which is mandatory prior to incorporation and registration with the commercial register
- Acquisition of shelf company GmbH: two to three business days once all supporting information and documents provided.
- Five to ten business days for the registration process once all supporting information and documents provided. The overall process typically up to four weeks.
Information unavailable or not applicable
The Hungarian company formation is one of the fastest in the EU. The registration of companies is done by courts of registration in an electronic procedure. The standard registration procedure takes approximately one to two weeks (15 working days at most) after all necessary corporate documents have been prepared. However, in case the shareholders use standard Articles of Association provided by law, the registration does not take more than 24-48 hours as of filing. VAT registration is also immediate, so you can start working immediately.
Company: Within five working days for an online application.
Branch: Within three to five working days once the documentation is completed.
The overall process takes typically one to two weeks.
For both companies and branches, after having executed all the document and sent them in original to the relevant recipients, the incorporation usually requires around six to eight business days (it mostly depends on the processing time of filing of the incorporation deed executed before the Notary Public with the Register of Enterprises, as well as by the completion of other formalities, eg, the release by the competent Tax Office of the VAT Number for the newly incorporated company).
Approximately two weeks depending on timing for receipt of information (after receipt of all information and duly signed documents, formation can in principle be done within one day).
Typically, incorporation and registration of a limited liability company or a joint stock company takes between four and six weeks.
In the case of a limited liability company, it is also possible to set up a company within 24 hours when an electronic template of articles of association is used. This type of incorporation imposes some limitations upon the shareholders, eg contributions can be made only in cash.
On July 1, 2021, an amendment to Polish law introducing online registration proceedings has come into force. Due to this change, electronic communication with the registry court is the rule - without the possibility of using written form. The application for entry must be submitted via the PRS (Court Registers Portal) portal and must be completed in the Polish language. This amendment was introduced inter alia to speed up the registration proceedings, however at this stage it is hard to assess whether this goal has been achieved.
Approximately one to two days.
From formation to registration of a new LLC, JSC, JSA or a Branch with the commercial register (including obtaining business licenses):
Approximately one to two weeks following completion/signing of all documents (the time period may be postponed in case of regulated business activities where special permission is needed).
Acquisition of a shelf company (LLC): Approximately two to five working days.
Registration of a company which has its seat located in Bratislava region currently takes longer (approximately two to five weeks) in most cases due to the heavy workload at the local commercial register. Registration of a transfer of a shelf company having its seat located in Bratislava region may also take up to several weeks, although the registration is only decisive for effectiveness of a majority share transfer in case of LLC.
24 hours after submitting an application to the accredited registrar for the registration of legal entity with all required documents.
Within 60 working days of the non-resident legal entity submitting the respective application with a list of required documents.
United Arab Emirates
Onshore, that is outside the tax-free zones, one to two weeks following arrangement of appropriately legalised corporate documents and Arabic translation of the same.
Additional time is often required where, due to the nature of the proposed business to be conducted within the UAE, special approvals from third-party authorities are required in addition to the approval of the company registrar that is located at the Department of Economic Development (“DED”) of the Emirate chosen to establish the entity.
The time frame varies from one tax-free zone to another. A time frame between three to five weeks should be expected in these instances.