How long does it take for each type of corporate vehicle used to invest in real estate to become operative?
The process for the incorporation of a corporate vehicle under the laws of Angola must be done according to the terms set forth in the Private Investment Law. The incorporation of a local company is a straightforward procedure and can be done in one day, provided that all the required documents were duly submitted and approved. It is worth mentioning that the by-laws of the new company must be published in the Official Gazette and this can take between 30 to 45 days.
Setting up a corporate vehicle in Argentina, usually takes from several weeks to a couple of months –between preparing the necessary documentation, such as the articles of organization and bylaws, obtaining a tax identification number (CUIT), and registering with the Public Registry of Commerce-, always depending on the complexity of the investment structure, the efficiency of the registration authorities, and any other specific legal or regulatory requirements applicable to the particular investment.
The incorporation process for a proprietary company or a public company normally takes between three and five business days from lodgement of all required information. Once the company is incorporated, additional registrations may be required (for example, registration for GST or income tax purposes), and those applications take additional time.
Registration of a branch of a foreign company may take up to four weeks from lodgement of the relevant forms and accompanying documents with the Australian Securities and Investments Commission (ASIC).
There is no specific requirement for registration of general partnerships. A partnership can become operative as soon as the agreement is finalized (or by the parties’ conduct).
A limited liability partnership is formed by and on registration of the partnership under the relevant Partnership Act. Registration is effected by recording in the register the particulars in the statement lodged with the relevant authority. Normally, the registration of a limited liability partnership can be effected in five working days.
There is no provision for registration of discretionary trusts. Normally, the trust is constituted by the payment to the trustee of an amount (the settled sum) which the trustee agrees to hold, together with any other money paid or property transferred to it, in accordance with the terms and conditions of the trust deed. The discretionary trust is thus operative on execution of the trust deed. A unit trust is operative on execution of the trust deed. However, failure to pay stamp duty in respect of the trust deed can have serious implications for future property transfers and hence payment of stamp duty should occur as soon as practicable after the trust is established.
Approximately 10 days.
The process takes several months, depending on how long it takes to carry out the necessary filings with the Financial Services and Markets Authority (FSMA).
Following the execution of the Articles of Association in the presence of a public notary/attorney an application must be filed with the relevant court: which depends on the location of the company's corporate seat. The time taken for registration varies between registry courts, taking up to 30 days once all the required registration documents have been submitted.
Following the execution of the Articles of Association in the presence of a public notary/attorney an application must be filed with the relevant court: which one depends on the location of the company's corporate seat. The time taken for registration varies between registry courts, taking up to 30 days once all the required registration documents have been submitted.
The company founders are required to convene a general meeting of shareholders no later than 60 days after receiving the decision from the Commission that the issuance of shares was successful. If the founding general meeting of shareholders is not convened within this period, the issuance of shares is void and the company is deemed not to have been established.
Following the execution of the Articles of Association in the presence of a public notary an application must be filed with the relevant court for the area containing the partnership's corporate seat. The time taken for registration varies between registry courts, taking up to 30 days once all the required registration documents have been submitted.
Usually, the expected timeframe to incorporate a regular Brazilian company (ie registration with the Commercial Registry and obtaining of the company’s Taxpayer Number – CNPJ) and to obtain the main registrations is around 30 calendar days from the arrival of the foreign documents in Brazil. This estimated time varies depending on the location of the company’s headquarters and the company’s activities/corporate purpose. If the vehicle is an FII, additional steps and procedures must be followed and, as a consequence, the expected timeframe is higher, approximately 40 calendar days.
Incorporation of a company normally takes five to ten days but for a small fee can be expedited and completed in one day.
Most general partnerships have no filing requirements and are operative as soon as the partners agree on terms.
Limited Partnerships and Limited Liability Partnerships generally require a filing in a corporate office to become operative. This can take a few days and can be done on an expedited basis for a few hundred dollars more when required.
Timescales vary greatly depending on the complexity of the corporate structure and the location of the incorporation, but are typically one to two months.
Each type of SPV will be fully operational from the moment of its incorporation. It’s important to highlight that the incorporation procedure of the Simplified Joint Stock Company (SAS) is the most expeditious of the mentioned companies since it only requires a private incorporation document and registration before the Chamber of Commerce. The other companies require a public deed of incorporation, as well as the branch of a foreign company and the compliance of special requirements in addition to its registration. Now, in relation to the incorporation of a trust, it is required to subscribe the contract with the respective trustee and start its execution, which may take more time to become an operative SPV.
About 15 days.
30 days for 'simultaneous' incorporation (incorporation without a public offer of shares).
About 15 days.
About 15 days.
Due to the small number of real estate investment funds in Croatia, it is difficult to confirm how long it would take for a fund to become operative. However, the time taken would be comparable to that in other European jurisdictions.
Around 20 days
Around 30 days in the case of a joint stock company without a public offer of shares
Around 20 days
Around 20 days
A partnership can become operative immediately but applications for VAT registration normally take two to four weeks.
A public limited company can become operative in one or two days.
A private limited company can become operative in one or two days.
A limited partnership can become operative in one or two days.
A limited partnership company can become operative in approximately 6-8 weeks.
An SCI benefits from a legal personality as from its registration with the Companies and Trade Register which usually takes two days/one week as from the submission of all the required documentation.
An SNC benefits from a legal personality as from its registration with the Companies and Trade Register which usually takes two days/one week as from the submission of all the required documentation.
An SARL, an SA or an SAS benefits from a legal personality as from its registration with the Companies and Trade Register which usually takes two days/one week as from the submission of all the required documentation.
An SCPI benefits from a legal personality as from its registration with the Companies and Trade Register which usually takes two days/one week as from the submission of all the required documentation. An SCPI is subject to checks by the French Securities and Exchange Commission (Autorité des Marchés Financiers – AMF) and the satisfaction of its requirements.
An SIIC status is a special arrangement provided by a French law passed in 2002 giving tax advantages to public listed companies. Any public company can become a SIIC if it complies with certain conditions. The duration for the registration will be the same as for the SA or the SCA (two days/one approximatively).
Note that due to the new regulations which apply to Alternative Investment Funds the time frame for setting up the necessary acquisition vehicles also depends on the cooperation of the German supervisory authority (BaFin).
Establishing a GmbH involves signing the incorporation deed, contributing share capital, followed by registration with the relevant commercial register. For liability reasons, trading should not commence until registration is complete, since if a GmbH enters into contracts prior to registration this gives rise to personal liability on the part of the shareholder(s). Registration can take up to two weeks from the signing of the incorporation deed and the submission of the application.
If time is of the essence, investors may use an off-the-shelf company that is already registered, and which may therefore be used in dealings as soon as its shares have been acquired. This can often be achieved within a couple of days.
Establishing an AG involves signing the incorporation deed, auditing the incorporation deed, contributing at least one quarter of the capital contribution (contributions in kind must be contributed in full) and finally registering with the competent commercial register.
For liability reasons, trading should not commence until registration is complete, since individuals acting on behalf of the AG will be personally liable between the signing of the incorporation deed and the registration of the AG. Generally, the incorporation process takes from three weeks to two months. However, as there are circumstances outside the control of the shareholders, particularly registration, the quoted time frames are only an indication. Registration can take anything from one week to several weeks after the application has been filed, depending on the circumstances and the workload of the commercial registry. Prior to submitting the application other matters must be dealt with, eg setting up a bank account and obtaining confirmation from the bank that the share capital has been deposited in the company's account. If time is of the essence it is advisable to use an already registered off-the-shelf company, which can be used as soon as the shares in the company have been acquired.
Since a REIT is a listed stock corporation, incorporation takes time, is expensive and wide-ranging.
For liability reasons, trading should not commence until registration of the REIT in the commercial register is complete, since individuals acting on behalf of the AG will be personally liable between the signing of the incorporation deed and the registration of the REIT. Registration can take between one week and several weeks from the date the application is filed, depending on the circumstances and the workload of the commercial registry.
Additional time is required for the public listing of the REIT. Altogether, the entire process may take up to two months.
Since for many stock corporations it will not be possible to comply with all prerequisites of a REIT straightaway (in particular with regard to public listing), legislation has introduced the option of establishing a pre-REIT, a stock corporation registered with the Central German Federal Tax Office (Bundeszentralamt für Steuern). One year after this registration, and every year subsequently, the pre-REIT must demonstrate to the Central German Federal Tax Office that its objectives and the structure of its assets and earnings comply with the law.
The pre-REIT must apply for a listing on a stock exchange in a regulated market within three years of its registration as a pre-REIT. If no application is made, if the application is turned down or if the pre-REIT cannot provide the necessary proof of compliance, the corporation's pre-REIT status is lost.
Setting up a real estate fund may take roughly 7 to 11 months, mostly to obtain the necessary BaFin approval.
A partnership effectively comes into existence when the partners enter into the partnership agreement but, in relation to third parties, the partnership comes into existence only after it has commenced business activities or been registered in the commercial register. The partnership may commence operations before it has been registered but in this case the limited partners will not benefit from limited liability and will be personally liable, unless the limited liability is known to the contractual partner. Depending on the workload at the commercial registry, registration may take up to two weeks from the date the application for registration has been filed.
To incorporate a company in Hong Kong it is necessary to submit to the Companies Registry a specified form and a copy of the constitution (articles of association) of the company as supporting documents. The incorporation fee must also be paid at the same time. Assuming that the application is in order, the certificate of incorporation of a company limited by shares will be issued on the fourth working day after the submission date (if the application is mailed to the Companies Registry in paper form) or within one hour after submission of the documents (if submitted through an online facility). The certificate of incorporation of a company limited by guarantee will be issued in about three weeks.
The place of business in Hong Kong must be registered in order to be operative. Upon the satisfaction of all registration requirements, ie the submission of the completed specified form with the requisite supporting documents (such as the constitution and certified copy of the certificate of incorporation of the non-Hong Kong company) and the payment of the requisite registration fees, the Companies Registry will issue a certificate of registration. This usually takes at least 10 working days after the submission of all requisite documents in acceptable form to the Companies Registry.
A partnership can become operative as soon as the relevant partnership agreement is finalized.
For a limited partnership, registration with the Companies Registry is also required and it can take about five working days for the Certificate of Registration to be issued.
For a limited partnership fund, registration with the Companies Registry is also required and it can take about four working days for the Certificate of Registration of a Specified Fund to be issued.
Discretionary trusts are operative on the execution of the trust deed.
A unit trust that requires authorization from the SFC is operative once the trust deed has been executed, the trust property has been deposited, investor subscriptions for the minimum aggregate amount have been collected and authorization is obtained.
The amount of time it takes to obtain authorization can vary from one trust to another. To make the authorization process more efficient, SFC revised its application lapse policy in November 2013. For applications received by SFC on or after 1 January 2014, if no authorization has been granted within six months (calculated from that take-up date, (ie the date of the Take-up letter issued by SFC, generally five business days following receipt of all necessary application documents)), then the application will lapse (subject to any time extension granted by SFC in limited circumstances and at its sole discretion).
The time available for the Court of Registration to decide on registration is usually 15 working days. However, if the application is submitted in the standard form for articles of association, a simplified registration procedure applies and the Court of Registration must decide on registration within one business day.
An application for registration may only be submitted to the Court of Registration electronically through a lawyer.
In the case of a real estate investment fund, the investment fund manager (either a company limited by shares or a Hungarian branch office) must be registered as described below.
The time available for the Court of Registration to decide on registration is usually 15 working days. However, if the application is submitted in the standard form for articles of association (not applicable in the case of public companies limited by shares and branch offices), a simplified registration procedure applies and the Court of Registration must decide on registration within one business day.
An application for registration may only be submitted to the Court of Registration electronically through a lawyer.
Registration of the investment fund itself takes three months unless additional documents need to be submitted.
Approximately two weeks following submission of correctly executed documents to the CRO but fast track registration procedures are available which can reduce the time to five working days.
Ten days for incorporation and approximately three-to-four weeks for approval. Subject to the Central Bank's agreement, the approval process for the management company can run concurrently with the CIS approval process.
A one-day authorization process involving the Central Bank applies to CIS marketed to “qualifying investors” (known as Qualifying Investor Alternative Investment Funds or QIAIFs), subject to certain criteria being met. This is the most suitable vehicle for real estate investment. Generally, the entire process is capable of being completed within four to six weeks.
Approximately two weeks following registration and submission of the relevant documents to the CRO.
Approximately two weeks following submission of correctly executed documents to the CRO.
Approximately 15 days.
Approximately one week.
Approximately 15 days.
For incorporation of each vehicle, it takes several weeks. For each vehicle to become operative, it usually takes two to three months depending on how soon necessary agreements can be executed.
If we compare GK (for TK-GK) with TMK or investment corporation (for J-REIT), the lead time for GK (for TK-GK) is a bit shorter since it does not require a filing with the relevant local finance bureau.
10– 15 days, although in theory this can be done more quickly, if needed.
10– 15 days, assuming bank account can be opened within this period.
10– 15 days, although in theory this can be done more quickly, if needed.
10– 15 days.
10 days.
10 days.
After applying to the New Zealand Companies Office to reserve a company name confirmation will usually be issued on the day they are submitted. From this point you have 20 working days to incorporate the company. Part of this is signing and returning individual consent forms for each director and shareholder being registered.
A general partnership will become operative either through the conduct of the parties, or more commonly, when a partnership agreement has been finalized.
Setting up a limited partnership requires registration with the Companies Office. After an application has been made it should take no more than three working days for the request to be processed.
For a trust that holds land a trust deed needs to be executed. As such the trust becomes operative once the land is transferred to the settlor and the trust deed executed.
The registration process for a company limited by shares at the CAC typically takes between five to seven working days. A collective investment scheme may be established within 14 to 21 days of application to the Securities and Exchange Commission. It is, however, worthy to note that a Public REICO or a REIT requires a license from the Securities and Exchange Commission prior to operation.
The time required to register a company can vary greatly depending on the workload of the Norwegian Register of Business Enterprises. When persons without a Norwegian personal identification number are registered as members of the board the registration takes more time to complete, as such persons must apply for such a number. The information given below is an estimate based on the average time it takes to complete a registration given that the registration documentation is filed electronically. If the registration documentation is done as a paper filing by post (eg in case of an application for a personal identification number) the average processing will be approximately an additional three to five weeks.
Approximately four weeks from the date the Norwegian Register of Business Enterprises receives all the relevant documentation.
It is possible to buy a ready-made company for approximately NOK 55,000 (including a share capital available in cash of NOK 30,000). The time required to become operative would then normally be two days (although it will take longer to register the company's new name and new board of directors etc).
Normally one to two days from the date the Norwegian Register of Business Enterprises receives all the relevant documentation.
Approximately four weeks from the date the Norwegian Register of Business Enterprises receives all the relevant documentation.
Approximately four weeks from the date the Norwegian Register of Business Enterprises receives all the relevant documentation.
Our experience shows that it takes from four to six weeks for a limited liability company, a limited partnership or an unlimited partnership and from four to eight weeks for a joint stock company to become operative. The registration is conducted in a one-stop-shop procedure. A motion needs to be filed at the Registry Court in the particular jurisdiction in which the seat of the company is to be located. The procedure includes obtaining a Tax Identification Number (NIP), a statistical number (REGON) and registering in the Register of Businesses (Rejestr Przedsiębiorców), part of the National Court Register). Simple joint stock company uses a simplified formal process in its formation.
Management company (TFI): up to three months.
Fund: up to three months, following the creation of the TFI.
The timescale for incorporation is normally two to three weeks. This may be reduced by paying priority charges. There is also a simplified one-day incorporation procedure for companies that adopt standard articles of association and pre-approved names, registered through a one-stop-shop procedure.
Corporate vehicle formation in Romania is not an excessively complicated process. It generally involves preparing a series of documents, which are then filed with the Commercial Registry. The documents must be approved by a delegate judge. Romanian legislation provides that, the registration certificate attesting registration of the entity with the Commercial Registry must be issued within three business days from the filing of the registration application, subject to the required documentation being supplied and the delegate judge not rejecting it. The whole process should not take more than a few days.
The necessary series of documents are filed with the Commercial Registry and approved by a judge through a non-contentious process. Romanian legislation requires that the registration certificate attesting registration of the company with the Commercial Registry must be issued within three business days from the filing of the registration application, subject to the required documentation being supplied and the delegate judge not rejecting it. The whole process should not take more than a few days. For companies which are to engage in certain activities (credit institutions, insurance companies etc), specific additional approvals may be required thus extending the period necessary to become fully operative.
Approximately two to three weeks in less complex cases.
Approximately one or two months in less complex cases and without a public share offering.
Approximately three to four weeks in less complex cases.
Approximately three weeks in less complex cases.
Approximately one to one and a half months in less complex cases.
Please note that this estimate was not tested in practice as the SJSC is a brand new corporate vehicle, effectively incorporated into the Slovak Commercial Code as of 1 January 2017.
Approximately three weeks (one week for incorporation, payment of the Transfer Tax etc and two weeks to register the company with the local mercantile registry).
However, under to Law 14/2013 of 23 September 2013 the incorporation of a limited liability company can be dealt with within 48 hours. Nonetheless, this system is not widely used.
Another possibility is to acquire a limited liability company from a seller who sells “off-the-shelf” companies, which takes roughly one or two days once the necessary powers of attorney have been granted.
Approximately three weeks (one week for incorporation, payment of the Transfer Tax etc and two weeks to register the entity with the local mercantile registry).
Two months, or five months if the relevant authorities fail to respond or they issue any objection to the proposal; the same amount of time is required to form the management company.
Three months, or five months if the relevant authorities fail to respond or they issue any objection to the proposal.
The time required depends on the choice of multilateral trading system (MAB) or regulated stock market on which the shares can be traded. In practice, a multilateral trading system is usually recommended. Due to the filing of documentation required by the MAB, this process may take between two and three months.
The formation of a limited liability company generally takes about 20 to 25 days. However, an off-the-shelf company may become operative in one or two days.
The formation of a partnership generally takes about 20 to 25 days.
The time frame for incorporation of a Thai limited company is approximately 3 days from the date of making a reservation of the company's name with the Ministry of Commerce.
Property funds authorized by the SEC are operative once the establishment and management of the fund has been approved, investors have subscribed the units by the minimum aggregate amount (an IPO will need to be carried out within 1 year as from obtaining SEC approval), and the property fund has been registered with both SEC and the SET. The overall process can take up to one to two years depending on the type and complexity of the fund.
Similar to property funds, the establishment of REITs must be permitted by the SEC. The timescale for authorization depends on the application documents; however, the SEC must complete approval of establishment of REIT within 45 days after the date that the application has been lodged. The trust units must be offered to the potential purchasers within 6 months after the date of the approval. The capital raised must be transferred by an underwriter to the trustee within 15 days after the closing date of the IPO. All trust units must be listed in the Stock Exchange of Thailand within 45 days after the closing date of IPO.
Limited liability company (LLC)
An LLC becomes operational once a trade licence is issued by the Abu Dhabi Economic Department (DED). If all relevant documentation has been properly prepared and submitted, this should take around six to eight weeks where one or more of the shareholders is a non-Gulf Co-operation Council (GCC) national (ie a national of a UAE, Qatar, Kuwait, Oman, The Kingdom of Saudi Arabia and Bahrain). If all the shareholders are UAE or GCC nationals the process is likely to be quicker.
Public joint-stock company (PJSC)
The process of setting up a PJSC is fairly involved and requires a number of approvals to be obtained. To obtain all the required approvals before shares can be offered for subscription would take at least 15 weeks. Following this period the initial public offering for subscription for shares should be kept open for between 10 days and 90 days and this is subject to further extension.
Private joint-stock company (private JSC)
In order to set up a private JSC an application has to be made to the DED and the Ministry of Economy and this application has to be supported by a business plan and feasibility study. These documents are studied and once any recommended changes have been made the setting up process can proceed. The entire process from submission of the application to the grant of a licence usually takes at least 15 weeks
The process for establishing is intended to be straightforward and transparent and begins with the submission of an application form (online or in paper form) to the Registration Authority for evaluation. If the Registration Authority approves the application, the applicant can apply to reserve a company name in accordance with the detailed requirements of the Business and Company Names Rules 2016. Registration/incorporation forms can then be submitted through the online portal. The Abu Dhabi Global Market financial free zone intends that the registration process will be completed within one to three business days when the entity's commercial permit and certificate will be issued.
An LLC becomes operational once a trade licence is issued by the Dubai Economic Department (DED). If all relevant documentation has been properly prepared and submitted, this should take around six to eight weeks where one or more of the shareholders is a non-Gulf Co-operation Council (GCC) national (ie a national of a UAE, Qatar, Kuwait, Oman, The Kingdom of Saudi Arabia and Bahrain). If all the shareholders are UAE or GCC nationals the process is likely to be quicker.
The process of setting up a PJSC is fairly involved and requires a number of approvals to be obtained. To obtain all the required approvals before shares can be offered for subscription would take at least 15 weeks. Following this period the initial public offering for subscription for shares should be kept open for between 10 days and 90 days and this is subject to further extension.
In order to set up a private JSC an application has to be made to the DED and the Ministry of Economy and this application has to be supported by a business plan and feasibility study. These documents are studied and once any recommended changes have been made the setting up process can proceed. The entire process from submission of the application to the grant of a licence usually takes at least 15 weeks.
Once all the necessary paper work is submitted and fees paid, a JAFZA offshore company should take between two and three weeks to be established and a certificate of incorporation issued.
A limited partnership can become operative as soon as it is established by registering with the Companies Registry. How long it takes to become economically viable is a separate question. Where a limited partnership is used as a fund vehicle, it will be governed by a detailed partners agreement and will generally not become fully operative until the first closing at which the investors are admitted as limited partners and the commitments made to the limited partnership allow the general partner to conclude transactions in the knowledge that there is sufficient equity funding (together with the relevant debt) to enable the first investments to be made. It is common for property funds of this type to go through a number of closings (with appropriate adjustments being made among the investors to ensure fair treatment between the investors).
The incorporation of a limited liability partnership (LLP) (which can be effected in a single day) confers a legal personality on the LLP and allows it to carry on its business. The relationship between the members is normally covered by a detailed members' agreement, although if this is not the case, certain statutory rules apply under which members participate equally in management, and share income and capital profits equally.
A syndicate trust is established by means of a trust deed. Generally, because syndicate trusts are used for the acquisition of single properties, the trust is normally created as the acquisition vehicle at the same time as the acquisition is made.
A unit trust authorized by the Financial Conduct Authority (FCA) is operative once a trust deed has been completed, investor subscriptions for the minimum aggregate amount have been collected, and FCA authorisation obtained. Obtaining FCA authorization for a unit trust scheme can take up to three months, but may be quicker if the fund manager is already FCA authorised and already running a number of unit trust schemes.
A non-FCA-authorized unit trust will become operative when the minimum viable commitments have been made to it, which is a question for the sponsor of the trust in the light of its investment objectives.
The incorporation process normally takes about a week but same-day incorporation is possible.
About one week, subject to having paid up share capital of at least 25 percent of £50,000.
The company must serve notice on HMRC (the tax authority) before the beginning of the accounting period for which it wants to join.
A limited partnership can become operative as soon as it is established by registering with the Companies Registry. How long it takes to become economically viable is a separate question. Where a limited partnership is used as a fund vehicle, it will be governed by a detailed partners’ agreement and will generally not become fully operative until the first closing at which the investors are admitted as limited partners and the commitments made to the limited partnership allow the general partner to conclude transactions in the knowledge that there is sufficient equity funding (together with the relevant debt) to enable the first investments to be made. It is common for property funds of this type to go through a number of closings (with appropriate adjustments being made among the investors) to ensure fair treatment between the investors.
The incorporation of a limited liability partnership (LLP) (which can be effected in a single day) confers a legal personality on the LLP and allows it to carry on its business. The relationship between the members is normally covered by a detailed members’ agreement, although if this is not the case, certain statutory rules apply under which members participate equally in management, and share income and capital profits equally.
A syndicate trust is established by means of a trust deed. Generally, because syndicate trusts are used for the acquisition of single properties, the trust is normally created as the acquisition vehicle at the same time as the acquisition is made.
A unit trust authorized by the Financial Conduct Authority (FCA) is operative once a trust deed has been completed, investor subscriptions for the minimum aggregate amount have been collected, and FCA authorization obtained. Obtaining FCA authorization for a unit trust scheme can take up to three months, but may be quicker if the fund manager is already FCA authorized already running a number of unit trust schemes.
A non-FCA-authorized unit trust will become operative when the minimum viable commitments have been made to it, which is a question for the sponsor of the trust in the light of its investment objectives.
The incorporation process normally takes about a week, but same-day incorporation is possible. DLA Piper offers support with the incorporation process through our company incorporation agent. Same-day incorporation can be completed for a slightly higher fee, subject to the provision of the relevant company details in advance.
About one week, subject to having paid up share capital of at least 25% of £50,000 or the prescribed euro equivalent.
The company must serve notice on HMRC (the tax authority) before the beginning of the accounting period for which it wants to join.
About four weeks. After registering with all the relevant authorities, obtaining the necessary certificates and opening a bank account, the entity can begin operating.
Depending upon the type of joint-stock company, incorporation takes from five months to a year.
A limited partnership or LLC is operative as soon as its certificate of limited partnership/certificate of formation is filed with the secretary of state of the state in which the limited partnership or LLC is formed. As a practical matter, because of the requirements of lenders and others with whom the limited partnership or LLC may do business, the limited partnership or LLC will not be able to effectively operate until it has a signed partnership agreement/operating agreement and received capital contributions from its partners/members.
A general partnership is formed by the association of two or more persons or entities to carry on as co-owners a business for profit. Thus, under certain circumstances, two parties may be deemed to be in a partnership even though that was not their intention. A general partnership comes into existence as soon as two or more persons or entities sign an agreement creating the partnership.
This may vary from trust to trust, depending on the formalities to be completed.
The incorporation process normally takes approximately two weeks and will become operational immediately thereafter.
The registration process for a public limited company takes approximately four weeks.
