- It Costs Less - MyBiz fulfills a complete Business registration, not just a Business Certificate.
A Complete Business Registration is necessary and includes your Business Certificate, Business Stamp, and Cashflow projections.
Cashflow projections are required to open your Commercial Bank Account because it's illegal to use a personal account for Business.
The total cost of registering a business is, therefore, the price of the Business Certificate + the price of a Business stamp + the cost of a Cashflow forecast. The total cost of purchasing those items separately from third-parties is more than solely using MyBiz.
- It's Much More Convenient - Registering a Sole Trader Business by going into the Ministry of Legal Affairs takes at least three visits over a few weeks.
The first visit is to perform your Name Search + Reservation.
The next visit is to collect your Name Search + Reservation results. If your name was accepted, then you get to submit your Business Registration. If your Name reservation was unsuccessful, you must repeat the process until it is approved.
After submitting your Business Registration, you must revisit the Ministry to collect your certificate.
Each visit to the Ministry involves joining three lines - the submission line, the Companies Cashier line, and then the Collections line. After you've acquired your Business Certificate, you still have to get your Company Stamp and Cashflow forecast.
- It's Super Easy - Understanding and filling out the Ministry's forms may require a bit of knowledge.
The MyBiz App asks straightforward, relatable questions and automatically fills out the documents for you. You get to verify the Information before submitting them Online.
- It's Much Faster - You could have your certificate and items in as little as a week. The Old-fashioned process took a month or three to obtain your Certificate, Business Stamp, and Cashflow.