Preparatory steps

(1) Select the legal form of entrepreneurial activity (business structure) - Limited Liability Company is the front runner of legal organization forms registered in Moldova. The popularity of this form is generated by the simplicity of its establishment and operation. However, when choosing the legal organization form of entrepreneurial activity, consideration should be given to factors such as: number of participants upon company establishment, confidence in other participants, types of activities to be carried out, size of share capital, turnover, fund raising, taxation, etc.

(2) Decide on the name of the company - The name of the company allows for its individualization, along with other attributes of identification. The name is public, registered in the State Register of Legal Entities.
Upon choosing the name, consideration should be given to name originality. Registration of a name which is the same, or similar to another, would be rejected. To avoid such situations, it is advisable to check in advance the name of the company as regards its availability and distinctiveness, directly with the registration authority.

(3) Decide on the registered office - A legal entity may have only one registered office, which is indicated in the articles of incorporation and is registered with the registration authority. The registered office is the location of executive bodies and will serve as the post address of the legal entity. 
There are no requirements established for the size of the registered office or its location.
The registration authority does not request documents confirming the fact of establishment of the registered office (title of ownership or lease agreement). However, these are requested by the tax body for the registration of the legal entity’s subdivisions with the tax authority.

(4) Determine the activities to be carried out - The company can practise any type of activity that is not prohibited by law, even if it is not provided in the articles of incorporation. However, the articles of incorporation shall indicate the main types of activity aligned with the Classifier of Economic Activities of the Republic of Moldova.

(5) Determine the size of the share capital - The financial foundation of a company’s activity is represented by the asset base of the company upon its establishment.

(6) Decide on the internal organizational structure of the company - In order to generate its own will, and to form and express it, the company requires certain bodies that will ensure its functionality.
The Supreme Decision Body (General Meeting of Shareholders or Sole Shareholder) forms the will of the legal entity. It decides on the most important issues concerning company operation and even existence.
The Executive Body (Administrator) executes the will of the General Meeting of Shareholders, which is manifested in relation to third parties, without a power of attorney.
The Supervisory Body is an optional body, but mandatory for Joint Stock Companies with more than 50 shareholders, which aims at supervising the operation and at adopting certain categories of issues, during the period between meetings of the Supreme Decision Body.
The Control Body (Auditor or Audit Commission) exerts control over the acts and operation of the Executive Body. Board members, administrators and accountants of legal entities cannot be members of the Control Body. The auditor’s powers can be transferred to an audit company.

(7) Identify the administrator and accountant - The company can have one or more administrators that manage the company and represent it without a power of attorney. If the entity has more administrators, their duties shall be regulated by the articles of incorporation. Otherwise, they have equal powers for company administration and representation.
The following documents shall be attached to the application for company registration:

• Founders’ decision regarding establishment of the legal entity;
• Identity card (for natural persons) or articles of incorporation. Excerpt from the Commercial State Register of the founder’s home jurisdiction confirming registration if the founder is a foreign legal entity.
• Identification of the person to be registered as administrator of the future entity. If the administrator is not physically present for the registration decision, the person will empower someone by power of attorney to this effect and will thus submit to the registration body the specimen of administrator’s signature authenticated by a notary.
• Information on the ultimate beneficiary of the company.