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Business Registration and Banking After Arrival

You've arrived with your entrepreneur or investor visa. Now comes the longest part, turning a visa into a functioning business. The sequence matters because each step depends on the one before it.

Registration Sequence

  1. Get a tax identification number (personal, then business)
  2. Register the company with the commercial registry
  3. Open a business bank account (requires company registration)
  4. Register for VAT/GST if applicable
  5. Begin operations

In practice, steps 2 and 3 create a circular dependency. You need a bank account to deposit share capital to register the company, but the bank needs company registration documents to open the account. Some countries solve this with temporary escrow accounts.

Company Registration

The first decision is entity type. Most countries offer equivalents of a limited liability company (GmbH in Germany, SARL in France, SL in Spain, Ltda in Brazil), which is usually the right choice for foreign entrepreneurs.

Registration timelines vary. Estonia's e-Residency program allows online company formation in 24-48 hours. The UK's Companies House can process in a day. Germany typically takes 2-4 weeks through a notary. Some Latin American countries take 4-8 weeks.

You'll typically need:

  • Articles of incorporation (drafted by a local lawyer or notary)
  • Proof of registered business address
  • Directors' and shareholders' identification documents
  • Minimum share capital deposit (EUR 1 in some countries, EUR 25,000 for a German GmbH)

Opening a Business Bank Account

Banks have become cautious about anti-money laundering compliance, and new foreign-owned companies get extra scrutiny. Expect to provide:

  • Company registration certificate
  • Articles of incorporation
  • Personal identification for all directors and beneficial owners
  • Proof of business activity (business plan, contracts, invoices)
  • Proof of source of funds

Ask your local lawyer or accountant which banks are friendliest to foreign-owned startups. The answer varies by country and sometimes by branch. Timeline ranges from 1 day (UK fintechs) to 6 weeks (traditional banks in Germany or France).

Hiring a Local Accountant

Do this before you register, not after. A local accountant who works with international clients will save you from expensive mistakes. They'll know the registration process, the tax deadlines, and the reporting requirements you won't find in any English-language guide.

They'll also help you understand your personal tax position. Many entrepreneur visas require you to become tax resident, which means your worldwide income may be taxable locally. Some countries offer favorable regimes for new residents (Portugal's NHR, Italy's regime forfettario, the Netherlands' 30% ruling), but you need to apply proactively.

VAT/GST Registration

If your business sells goods or services, you'll likely need to register for VAT or GST once you exceed a threshold. In the EU, thresholds vary (EUR 10,000 for cross-border sales under the EU OSS scheme, higher for domestic-only). Some countries require registration before your first sale.

Business Insurance

Requirements depend on your industry and location. Most countries require employer liability insurance if you hire staff. Some require professional indemnity insurance for certain professions. Check what your visa conditions mandate, as some entrepreneur visas have specific insurance requirements.