Getting operational: bank account, accounting, e-invoicing

The company exists — but when can you issue your first invoice?

Registration is not the moment a company starts trading. To issue an invoice you need the tax office inspection completed, accounting records opened, and the e-invoice or e-archive system activated.

The bank account runs on its own track. For companies with foreign shareholders, banks request the ownership chain, an ultimate beneficial owner declaration and an explanation of the source of funds. The difference between a prepared and an unprepared meeting is measured in weeks.

On the social security side, if you intend to employ staff, the workplace must be registered and entries notified on the first day. For foreign staff with a work permit, the permit start date and the entry notification must line up.

Payment infrastructure is usually left until last, which is where delays come from. If you will collect payments from abroad, compare which bank works in which currency and at what cost before you commit.

These four tracks can run in parallel. Done sequentially the setup takes a month; run in parallel it takes about two weeks.

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