Establish a trade name

Who can set up a trade name?

Any natural person based in the EU can easily set up a trade name online. However, if the conditions are not met for electronic transactions, it is also possible to register in writing in other ways.

How do I set up a trade name?

Establishing a trade name is quick and easy using electronic services.

Everything starts with the company and community information service, also known as the YTJ service, where you can make a declaration of establishment and at the same time choose where you want to register everywhere at the same time. Usually, at this stage, registration is also made in the trade register as well as in the registers of the taxpayer.

Here is a link to the YTJ service, where you can start the registration process after logging in:

How much does it cost to set up a trade name?

The establishment of a trade name is advantageous and its price is in practice determined by the registration method. Electronic registration currently costs around € 60 and written registration a little more.

Details of the notice of incorporation of the trade name

In order to notify the establishment of a trade name, you need the following information:

  • Personal data, ie personal data of the future business
  • Contact information for the trade name
  • Postal and / or Visiting Address
  • Website address
  • Phone number
  • Email address
  • The official name proposal of your trade name and, if you wish, alternative name options (limited to a maximum of two additional options)
  • Domicile of the company
  • Company industry

Attached is an instructional video prepared by the National Board of Patents and Registration, according to which registration is quick and easy.

Should there be capital when establishing a trade name?

No pre-determined initial capital is required to register a trade name. Of course, the initial capital should be for the start-up of the actual activity, but only the registration fee, which we mentioned in the previous paragraph, is enough for the registration itself.

Opening a bank account with a trade name

We are often asked whether it is worth opening an account with a trade name. There is no one right answer to this and the situation can be very case-specific. In general, however, as the business grows, it is much clearer, for example from an accounting point of view, to have a separate account for the trade name. In this case, we strongly recommend the actual business account, the features of which enable the introduction of many electronic systems, and in this way we can significantly streamline the work of accounting and at the same time make your daily life easier.

The advantage of a separate account is that what happens in the company’s accounts is clearly itemized, and through that we can also take care with you that we receive all the documents in your accounts correctly and on time.

Of course, keeping track of trade name events also makes it easier to stay in control on a daily basis, and you can see directly how the business is doing on a day-to-day basis.

At times, however, it may be that the activity is so small that it pays to pay additional costs for the business, and as a result, fewer events in the trade name are handled smoothly even within a private account.

The part of starting a collaboration is that we discuss options with you and tell you in more detail how each issue will affect your daily life in the future. So don’t think about these things alone, feel free to contact us

We will be happy to help you move forward! Contact us!

Start accounting for the trade name

After the registration of the trade name, it is advisable to take care of the accounting matters from the beginning. By doing everything right from the beginning, it will be much easier to file a tax return at the end of the year. In addition, it is important to note that if you have registered the company in the VAT register, you must also take care of the VAT returns in accordance with the selected tax period.

We will help you with all these questions from the start and, if you wish, we can also give you tips on choosing the necessary registers.

Take a closer look at our service and feel free to ask more.

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