Friday 17 October 2014

European Companies with VAT Number

The VAT is required to be paid for almost all the sales and purchases of a European company that is doing business in EU. Outside the European Union, VAT is not mandatory to be applied for the exports of a company based in EU. VAT is usually added to the price of the goods and services offered by a European company and it is paid by the customer, according to the invoice.

An entrepreneur who wants to open a company in a foreign country and who needs VAT registration may contact our specialists in company formation from Bridgewest, who will help him with the incorporation procedure and the application for the VAT number. The required documents will be submitted to the tax authorities or the Trade Register in the country where the company is registered.

The company must accomplish several requests in order to obtain the VAT number and these are different according to the regulations in the country where it needs to be obtained.

National criteria for VAT number

The application for the VAT number is sent after the incorporation procedure for the new companies and the issuance may last a few weeks (the period differs from one country to another). The local authorities will decide if they issue a VAT number according to the national criteria related to the products or services sold by a certain company, its turnover etc. Our specialists will offer you useful information about the requirements in every European country and the necessary documents to be submitted to the local authorities.

A part of the European shelf companies offered by Bridgewest have a VAT number, for others it is necessary to obtain it. The procedures for obtaining a VAT number may be simpler in Eastern Europe, in countries such as Bulgaria, Latvia, Russia etc. In certain countries, it is mandatory for the founders of the company to be present in front of the local authorities or to appoint a representative through a power of attorney.

If you need more information about European companies with VAT number, you may contact our specialists in company formation from Bridgewest. They will offer you company incorporation services and other additional services for your business abroad.