Enterprise Car Rentals - Reason for Legal Structure and Documents - Business Plan Example

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The paper "Enterprise Car Rentals - Reason for Legal Structure and Documents" highlights that several items of furniture and equipment will be required for the office and the details for the same are given separately on the basis of their cost being below and above NZ$500…

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Enterprise Car Rentals - Reason for Legal Structure and Documents

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Subject: Business
Type: Business Plan
Level: Undergraduate
Pages: 23 (5750 words)
Downloads: 0

Extract of sample "Enterprise Car Rentals - Reason for Legal Structure and Documents"

Download file to see previous pages Given the future needs arising due to further expansion, it is more appropriate to go for incorporate a Limited Company for our car rental business. A company enables the separation of business risk from the personal risk of shareholders and there is no personal liability for shareholders of the company, which is limited to their stake in the company. The liability for debts of the company is also limited for shareholders up to the limit of the paid-up capital of the company. For example, if a shareholder owns one hundred shares of $1 each, his shareholder liability for the debts of the company will be limited to $100 only. Forming such a company is quite simple and does not involve much time or expenses.

The name of the company will have to be reserved with the New Zealand government company authorities by paying NZ$10 and then an online application can be made by paying NZ$ 150. Subsequently, the signed director and shareholder consent forms have to be returned to the authorities. Once all these steps are completed we will receive the Certificate of Incorporation and the company name will start appearing in the New Zealand Companies Register. If we complete the formalities ourselves there are no other costs associated with the formation of the LLC, but if we use the services of intermediaries or agents, we will have to pay their fees for the services rendered to us. The following is the format of the application we will have to submit for incorporating a limited liability company (LLC) in New Zealand.

The business premises chosen by us is located in the Auckland International Airport Commercial Premises and is ideal for conducting car rental business. It is well-equipped with the complete infrastructure required for a modern office. It has two reception areas, one for general visitors and the other for specific corporate clients who do regular business with us. It has been provided with three carports in addition to the parking areas for cars available on rent which too are located within the precincts of the office. It is close to major access routes to the entry and exit points to the airport and has all civic amenities close by. ...Download file to see next pages Read More

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