People planning a company launch usually ask how long incorporation takes. The honest answer is that incorporation is rarely the bottleneck.
The delays sit in three other places, and knowing which one you are in tells you what to do about it.
| Step that is quick | filing the incorporation documents |
|---|---|
| Delay 1 | name reservation and approval |
| Delay 2 | authenticating documents from abroad |
| Delay 3 | opening a bank account |
Delay 1 — the company name
Registries reject names for reasons that are predictable once you know them:
- Too similar to an existing registered name — the usual cause
- Uses a restricted word — words implying banking, insurance, trust or government connection normally require a licence or consent
- Misleading about the activity
- Missing the required suffix for the entity type
The fix is simple and almost nobody does it: prepare three name options in order of preference, and search the register before filing. A rejected name costs a full cycle of waiting.
Also worth separating in your mind: a company name is not a trade mark, and neither is a domain. Registering the company does not stop someone else using a similar brand, and it does not secure the web address. If the brand matters, handle those as separate tasks.
Delay 2 — documents from abroad
This is the delay that most often derails a timeline for foreign founders, because it depends on institutions in another country.
A registry that has never seen your national documents cannot verify them on sight. So it requires a chain of authentication — the same problem, and the same two mechanisms, that apply to personal documents:
- A single certificate where both countries participate in the relevant international convention
- Consular legalisation — a longer, multi-step chain where they do not
Which applies depends on the specific pair of countries, and participation changes over time, so check the current position for your case rather than relying on what was true a few years ago.
Two practical rules:
Start this first, not last. It is the step where money buys the least speed, because most of the elapsed time is other institutions processing.
Watch document validity. Some certificates are only accepted if issued within a recent window. Getting them too early is as much a problem as too late — the same trap that catches people preparing immigration files.
Delay 3 — the bank account
This is the step that surprises founders most, and it deserves a clear explanation because the reason is structural rather than local.
Banks everywhere operate under anti-money-laundering and know-your-customer obligations, and small jurisdictions with international client bases are scrutinised particularly closely by their correspondent banks abroad.
A correspondent bank is the institution that lets a local bank move money internationally. If a correspondent decides a bank's client base is too risky, it can withdraw the relationship — which would cut the local bank off from international payments entirely.
That threat is the reason local banks ask a lot of questions. They are not being obstructive; they are protecting the connection that makes them useful.
What they typically want to establish:
- Who ultimately owns and controls the company, through any layers
- Where the initial funds come from, with evidence
- What the business actually does, in concrete terms
- Who the customers and suppliers will be, and in which countries
- Expected transaction volumes and patterns
How to make this go faster:
- Prepare a short, clear business description — vague answers create more questions
- Have source-of-funds evidence ready before the first meeting, not after being asked
- Keep the ownership structure simple. Every additional holding layer adds weeks and raises questions
- Be consistent between what you tell the registry, the bank and the tax authority
- Expect to attend in person — many banks require it for account opening
Point three is the one founders most often get wrong. A complicated structure with no clear commercial reason is the fastest way to a declined application.
A realistic sequence
- Decide the structure and settle ownership in writing
- Start document authentication immediately — this runs in the background
- Search and reserve the company name
- File the incorporation documents
- Obtain the tax registration and any activity-specific licence
- Open the bank account
- Register for social contributions if hiring
Steps two and six are the long ones. Everything else is comparatively fast.
One planning rule that saves real money: do not sign a lease, hire staff or commit to a launch date until the bank account is open. Costs that start running before you can receive payments are the most common cause of an early cash squeeze.
Frequently asked questions
What is the slowest part of setting up a company?
Usually authenticating documents from abroad and opening the bank account. The incorporation filing itself is normally quick.
Why do banks ask so many questions?
Because they must satisfy their correspondent banks abroad, which provide their access to international payments. Losing that relationship would cut them off entirely, so they screen carefully.
How can I speed up account opening?
Keep the ownership structure simple, prepare a concrete business description, and have source-of-funds evidence ready before the first meeting rather than after being asked.
What should I not do before the bank account is open?
Do not sign a lease, hire staff or commit to a launch date. Costs running before you can receive payments are the most common cause of an early cash squeeze.
