Required Steps to Establish a Company

Once the type of company has been decided upon, there are several steps to follow:

1. Verify availability of the proposed company’s legal name. The verification can be done online.
2. Obtain Tax Identification Number(s) (TIN) for all shareholders and partners.
3. Draft the Company’s Bylaws, which need to include the TINs of all shareholders, company name, organizational structure, share capital and registered office address. The bylaws need to be legalized by a public notary.
4. Payment of the company incorporation fees, which depend on the share capital amount and company type.  
5. Submission of incorporation documents to the Commercial Registry.
6. Upon acceptance of the incorporation documents, you will receive “Constancia de registro de Locales“, “Testimonio de Escritura de Constitución Inscrita en el Registro de Comercio“, and “Constancia de Matrícula de Empresa Inscrita“. 
7. The Company needs to be registered at the Ministry of Finance, in order to obtain a company TIN and Tax Contributor Registry Number. This needs to be done within 2 weeks from the acceptance of the incorporation documents.
8. Registry of the company books by a certified accountant and legalization of the accounting system.
9. Selection of a bank which suits the business needs of the company and opening of a bank account.
10. Municipal registry of the company and obtain local licenses and certificates.