ABSTRACT
Companies – including freelancers – are obliged to register with the trade register of the Chamber of Commerce. For a one-man business the owner registers. For a private limited company all partners are required to register. Entrepreneurs may be visited by a controlling official of the tax authorities. He is allowed to check if the administration meets all the requirements. The authorities think it is important to stimulate entrepreneurship and innovation in order to have more businesses set up. Through taxes, new businesses are not only beneficial to the treasury but they also create employment. The partners can have different roles in the business: the managing partner and the sleeping partner. The managing partner is active, takes initiatives, represents the company and is liable for its debts. Insurances such as liability insurance, legal expenses insurance, disability insurance, absence insurance, fire and theft insurance and building insurance are the most important.
