• The minimum share capital was recently reduced to €1 but banks require more than this figure to set up an account. The traditional share capital was 7,500 euros, but a minimum amount could be deposited of around 4,000 euros ex-VAT. Please bear in mind that this is "working capital" and can be taken out of the account for use at any time
• The minimum number of directors is one. However, there are usually 2 directors as this helps with social security payments. If the company only has one director, the burden of these payments is incurred from the first day the company is formed. If the client is non-resident, we can write to the authorities on your behalf to ensure these payments are not made
• Bank accounts can be opened remotely most of the time