Your company must be registered for tax purposes with the Tax Administration Service (SAR) of the Ministry of Finance, as well as the Honduran Social Security Institute (IHSS), the National Institute of Vocational Training (INFOP) and the Social Housing Fund (FOSOVI). IHSS contributions amount to 5% of each employee`s salary, while INFOP and FOSOVI receive 1% and 1.5% respectively. After selecting the partners of your company, you need to assign positions and determine the participation of each partner, that is, the part of the company that corresponds to each partner. In the case of an S de RL (limited liability company), these parts are called shares and, in the case of an SA (Sociedad Anónima), shares. It is very important to note that the participation of a partner in a company also defines the decision-making power that a partner will have in a partnership. At Biz Latin Hub, our multilingual team of start-up specialists is trained to help you quickly enter the Honduran market and take advantage of available business opportunities. With our comprehensive portfolio of business support services, including legal, accounting, contractual and corporate representation services, we can be your single point of contact to start and do business in Honduras or any of the 17 other Latin American and Caribbean countries in which we operate. Each business has its own advantages and requirements, with the sole proprietorship being the easiest to establish, but with unlimited liabilities, with the owner being fully responsible for the debts and assets of the business. A partnership is a similar organization that differs in that responsibility is shared among the partners appointed within the unit. Want to start your first business, but don`t know where to start? At Rentify, we know how complicated it is to start a business in Honduras.

It is a long, complex and highly bureaucratic process. To top it off, there`s no detailed guide on how to do it. That`s why we set out to create a list that explains step by step how to start a business as clearly and easily as possible. Sole proprietor: The natural person declares the creation of his company in order to devote himself to one or more commercial activities. A company`s company name refers to its name or official name. That is to say, it is the way in which the legal person (company) is named that makes it possible to identify it definitively in the eyes of the law. Before choosing the name of your company, it is of the utmost importance to check if this name has not yet been used. This advice can be provided with the help of a lawyer or through your city`s Chamber of Commerce. It is important to mention that the company name may be different from the company name of that company. In other words, a company can be called RL WSD S Investments and its company name can be Verticalia Real Estate. Congratulations! For this step, you already have the most general requirements to have a company that can legally operate in the country. Depending on the turn of your business, you will now have to carry out additional procedures to obtain other important documents such as building permits in the case of construction companies, sanitary licenses and sanitary registrations for the import and sale of pharmaceutical and food products or apostilled documents.

Online on the website (see process) www.miempresaenlinea.org On the other hand, in a public limited company, the appointment of two directors is required and the ownership of the company is divided into listed shares. The country is a party to several free trade agreements (FTAs), both through agreements signed jointly by Central American countries and through bilateral treaties. These offer Honduran companies preferential access to Canada, Mexico, Peru, South Korea, the United States and the United Kingdom, as well as the European Union. When it comes to starting a business in Honduras, there are four main types of legal entities to choose from, namely sole proprietorship, partnership, limited liability company (SRL) or company. You must now go to the Revenue Administration Service (SAR) offices in your city to complete this step. The RTN is a set of numbers designed to identify you and your business as “people” who have to pay taxes. This document is of the utmost importance and necessary to carry out many procedures, such as opening an account with a bank. Tags: Business creation | Foundation of | Company Create a | Creating a | Company operations in Honduras | Honduras| While the steps and requirements may vary depending on the type of entity you want to create, the following guide lists the most important steps in starting a business in Honduras: This approval is essential for your business, especially if your business has a local or physical location where you will receive or serve your customers. This procedure is carried out in the offices of the mayor`s office of the municipality, and once you have completed the procedure, officials from the mayor`s office will arrive to check your office or premises to ensure that the location matches that of your business and that you have all the requirements to be able to work. If you`re interested in starting a business in Honduras, read on to better understand some of the entities you can choose from, as well as the key steps to do so. Or contact us now to discuss your business options. The first step in starting a business in Honduras is to deposit your initial capital with a local bank.

One particular bank may be more recommended than another, depending on the type of business, geographic location, or industry you enter. Below you will find all the information you need to start your business in Honduras, from the documents you need to the information you need. This step is quite explicit, it refers to the selection of the category of your company and the activities to which it will be dedicated. However, it is very important to take into account that when starting a business, it is better if these activities are as broad as possible. In other words, if the turning point of your business will be the purchase and sale of furniture, but eventually you have the idea of making your own furniture to increase your company`s profits, it is important to take this into account from the beginning. Otherwise, you will have to incur a lawyer`s fee to change the act of your business in the future. The process of establishing the company in Honduras requires that a zone certificate and an operating license be obtained. The land use certificate indicates the place of commercial activities and confirms that it is permissible to carry out such activities at that place, while the operating licence must prove the company`s authorization to carry out such activities. After registering the settlements, you will need to apply for a Tax Identification Number (TIN), which identifies the company on tax returns, invoices, and other official financial documents. This process usually takes no more than one business day. The registration of the company, this is done in the different chambers of commerce, even now the portal is available www.miempresaenlinea.org, where you can make the registration from anywhere in the country. With the help of a notary, you need to prepare and register the statutes with the Chamber of Commerce, which contains data such as the name of the company, its registered office, structure and purpose.

This process usually takes about a week. In the case of an LLC, a minimum share capital of $250 is required for its formation. This company can be wholly owned by foreigners and must have between 2 and 20 shareholders who have a liability equal to the part they brought to the company. In the case of an LLC, only the appointment of a director is required, who can be one of the contributing partners. Finally, you must choose the manager(s) of your company. These individuals will be those who can appear before the law to perform functions such as signing public or private documents, issuing receipts or invoices, and managing loans or lines of credit, among others.