The second option you could take as you set up your business is creating a legal entity, a.k.a. a company. There are two legal statuses accessible to freelancers: the EURL and the SASU (definitions below). In both instances, these are sole-proprietorship companies: they only have one associate.
For certain customers, doing business with a company rather than a solo entrepreneur is a question of credibility. That said, setting up a company is more complex than setting up an individual enterprise.
💡 To start, you have to draft your Articles of Association and deposit capital for your company. Qonto can help you in this process by simplifying your share capital deposit. It’s 100% online, and you’ll receive your digital deposit certificate within 72 hours.
A company’s accounting obligations differ from those for an individual enterprise as well: they’re generally more comprehensive. Not only do you have to make sure your accounting books are always up to date, but you must also prepare your company’s annual accounts (balance sheet, profit and loss report, legal annexes). While hiring an accountant isn’t a legal requirement, it’s strongly recommended that you get one to stay compliant.
Let’s take a closer look at the EURL and the SASU.