Short answer
Most setup problems are avoidable. They usually come from deciding in the wrong order, comparing only headline prices, or treating the licence as the finish line.
Ten mistakes to avoid
- 01
Choosing structure before confirming activity
Confirm the activity can be licensed where you plan before committing.
- 02
Choosing only on the lowest setup price
A cheap package may lack the visas or office you need.
- 03
Ignoring renewal costs
Year two and beyond often matter more than year one.
- 04
Ignoring office requirements
Office type can affect visas, banking and some approvals.
- 05
Ignoring visa requirements
Plan how many visas you need over the next few years.
- 06
Poor banking preparation
Prepare a business plan, source of funds and a consistent profile.
- 07
Inconsistent business information
Licence, website, contracts and bank forms should describe the same business.
- 08
Not understanding tax obligations
Corporate Tax registration applies to most businesses, even with no profit.
- 09
Not maintaining company records
registers, accounting records and minutes should be kept current.
- 10
Missing renewal deadlines
Late renewals can lead to fines and blocked transactions.
Key takeaways
- Decide in the right order: activity, jurisdiction, structure.
- Compare total cost of ownership.
- Keep one consistent story across every document.
Related guides
IBS services
Related glossary terms
Last reviewed: 25 September 2026
General educational content — not legal or tax advice. IBS is not affiliated with any government entity. Always confirm current requirements with the official authority.