Opening a new business
Planning to start a new business and not sure where to start? Worry of novice mistakes? In a competitive environment, you need to think and act correctly from the start!
How? Comprehensive guidance and support can be an excellent starting point in opening a new business and it is desirable that this be performed by an accountant who understands your needs and the business world. Gelfman Certified Public Accountants will help to put you on the path to your success from the onset.
Working together in accordance with the business plan
When opening a new business, one needs to choose from several different forms of incorporation in accordance with your future plans. Gelfman Certified Public Accountants provides personal and professional advice in choosing the appropriate form of incorporation for your business, in addition to handling the bureaucratic process for its customers. The following are the recognized forms of business incorporation in Israel:
- Exempt dealer – suited for businesses with a small annual income, which does not require the business to collect VAT from its customers, thus constituting the most economical management plan.
- Authorized dealer – a business with plans to expand and increase cash flow is required to define itself as an authorized dealer, which is obligated to require its customers to pay VAT.
- Partnership – several partners can jointly establish a business in the form of an authorized dealer, where each has a degree of partnership, powers, as well as a degree of known and fixed responsibility, which are registered in a dedicated statute.
- Limited Company (LTD) – one person or several persons defining the business as a limited company can benefit from improved branding in the business world as well as a guarantee for the Company in the amount of the value of the shares held thereby only, and not a higher amount (except in exceptional legal cases). However, this option is the most expensive due to the requirement to pay an annual fee.
When opening a new business and choosing a form of incorporation, many parameters must be taken into account, including expected profits, business goals, expansion plans, increasing cash flow, and more. These will later require exact and accurate management in order for the business owner to be fully aware of the situation of the business, as well as to achieve efficient and reliable conduct with the tax authority. We at Gelfman Certified Public Accountants have an extensive knowledge of various business platforms, offer professional advice as well as real – time accounting services, for the ideal economic conduct of our customers.
Professional advice from day 1
Correct and regular bookkeeping as well as constant monitoring of the achievement of business goals can provide a much – needed peace of mind, especially when starting a new business. CPA Sergey Gelfman has extensive experience in the business world for large companies as well as for medium and small businesses and provides his customers with professional assistance and guidance from the opening of the business. For more information and advice call 03-5468870 or fill in your details on our website and we will contact you as soon as possible.
