In Moldova, three types of enterprises can be registered:
1. Individual Entrepreneur (IE) – for private individuals, Moldovan citizens
2. Limited Liability Company (LLC), or in Moldovan, abbreviated as SRL
3. Joint Stock Company (JSC)
JSCs in Moldova have not been registered for some time now. In Moldova, a business can be registered within 1 to 3 days. The first authority that a future entrepreneur approaches is the Public Services Agency (ASP – Agenția Servicii Publice). When contacting this governmental body, it’s essential to be well-prepared, knowing exactly what the company will do and having ready names.
At the ASP, you will need a necessary list of documents:
– Passports of the founders
– 5 pre-prepared names for your firm or company (we advise you to come up with many more names, as often good, catchy names are already taken)
– A legal address for the future enterprise (by the way, in Moldova, it is not mandatory for this to be the registered address of one of the founders)
– The necessary amount to pay for the registration of the enterprise and state fees.
Here, Moldovan legislation strangely suggests that entrepreneurs deposit money into a temporary account of the future company. If there is only one founder, the entire amount required by law is deposited as the charter capital. When there are multiple founders, the amount can be paid in parts. Initially, half of the amount is deposited into the company’s account, and then, within six months, the remaining part of the charter capital is contributed.
Choosing a Bank
Our firm prefers to cooperate only with a few reliable banks in the Republic of Moldova. These are trustworthy banks that have successfully operated in Moldova for over 15 years. Unfortunately, we cannot disclose the names of the reputable banks on this website to avoid offending competitors or new banks, some of which have, by the way, recently built a good reputation.
To open an account, you must have an amount to contribute to the charter capital. The charter capital can also be deposited later, but we recommend doing it right away.
Tax Inspection Registration
Within a few days after the enterprise registration, it is automatically registered with the tax inspection. In the tax inspection’s online cabinet, you need to indicate the director and accountant of the already registered firm, as unexpected situations and questions may arise.
Business Registration in Moldova: Pitfalls
Unfortunately, when Moldovan lawmakers concluded that since the registration institution had been abolished, they allowed the Registration Chamber not to require founders to provide any proof of the legal address of the future enterprise. In this body, they will simply tell you that you are responsible for the information provided.
This holds a serious catch. If you register a firm at an address where you, for example, merely reside but are not registered, you risk having to start all over again, meaning you will have to amend the company’s charter or essentially re-register it.
The fact is that when the tax inspection checks, you will be required to provide not only the documents obtained from the registration chamber but also a notarized lease agreement or a letter from the landlord of the apartment or rented office, allowing you to use the address as the company’s legal address.
This is just one example where an entrepreneur, not fully understanding the registration rules and the process of tax registration, accounting practices, finds themselves in a difficult situation. There are many such examples, and only experienced lawyers specializing in business consulting can help resolve them.
Ready-Made Firms
What is a ready-made firm? It is an already existing, operating enterprise. Even if the firm does nothing, it operates as a subject of tax law. To maintain it for future sale, accountants and directors who can manage more than one such firm are specifically hired. Why hire people and maintain such a firm? So that clients have the opportunity to purchase a business in the shortest time—one day. The name is one of the most important factors in the client’s purchase of a firm. But the most crucial aspect is the speed of re-registration and the types of activities.
A ready-made firm also guarantees that you won’t have to search for a legal address for your future enterprise.
Unfortunately, in Moldova, only a few serious legal firms can offer clients a ready-made enterprise. When you buy a ready-made firm from unverified individuals, you risk inheriting enormous debts from the firm. Even an auditing company won’t help you check if everything is clear with the firm. That is why we only sell firms owned by our clients, which have been verified by us, and all documentation has been managed by us.
Re-registration of Enterprises
When re-registering an enterprise, many founders encounter challenges such as a lack of time to resolve minor but time-consuming issues. Here, it is always convenient to consult with lawyers who have connections and can resolve issues in a shorter time.
Additionally, mistakes made during re-registration can later affect the documentation status.