Opening and registering a company

Opening and registering a company on the brink.
Starting a company..
The process of opening a company is, as a rule, a tedious process that involves the involvement of various professionals, and involves a variety of efforts, starting with financial and organizational investment, passing through investing in branding, and ending with bureaucratic investment in the many parts of the procedure.
Therefore, the company’s registration procedure, which turns it into a legally incorporated company by Israeli law and through the Registrar of Companies, becomes a doubly important procedure, and constitutes the “hammer blow” for the association of the company as a legal entity.
So, how do you do it?
According to corporate law in Israel, each company receives its official recognition only after registration in the database of the Registrar of Companies at the Ministry of Justice. The Registrar of Companies is responsible for collecting information regarding companies, as well as their co-registration as required.
Along with the registrar of companies under the authority of corporations, there is also the registrar of associations (which deals with associations and public benefit companies), the registrar of partnerships, the registrar of endowments, the registrar of pledges and the registrar of political parties, all under the auspices of the Israeli Ministry of Justice.
The registration procedure is done by filling out the application forms for company registration, together with a statement of the shareholders, a statement of the first directors, and the company’s articles of association – when they are approved and verified by a lawyer according to law.
If it is a one-person company (a company whose share capital is held by an individual), the directors’ declaration forms and the shareholders’ declaration are unnecessary.
Bylaws: The bylaws of the company are the most important incorporation document of the company, which is considered a contract between the shareholders of the company and the corporation, a contract that is a compass for the conduct of the company, which is obligated not to behave contrary to what is stated in the bylaws. According to the law, the articles of association must contain details regarding the limitation of liability in the company (limited liability or not), its goals, its name and its registered share capital.
The shareholders’ statement: The shareholders are basically the owners of the company, and the body that stands behind each company, makes its decisions, and outlines the course of its activities within the general meeting of the company.
Declaration of first directors: for the purpose of registering the company, a declaration of first directors form must be submitted. In a corporation where several directors serve, each of the signatories on the form declares that immediately after its registration and as long as no other body is appointed, he will act to register his details in the register of directors and to register the details of the shareholders in the register relevant to the company.
In addition, there is a company registration fee of 2614 NIS as of July 2016, this fee is paid annually throughout the company’s activity.
You should know: the registrar does not allow the registration of a company with a misleadingly similar name, and therefore, the more general the name, the less likely it is to be accepted, and as a rule, the more personal the name is, including if the name of the company is established, for example, the chances of the name getting the approval of the registrar of companies increases.
In any case, and in order to avoid a situation where the registration procedure is stopped as a result of the name not being appropriate, the registrar requires two more optional names, so that if the first name is rejected, the company will be registered with the following proposed names, in order.
As soon as the approval for the opening of the company is received, the company receives an identification number called a private company or a public company and begins to be considered a separate legal entity.
It must be noted that during the period of the corporation’s existence it must submit annual reports, pay an annual fee and perform other actions – by an accountant.
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