I have been in your step few years ago and I advise you against starting that process without knowing you can generate income from your idea. Here are the steps
0. You choose a name for your company and make sure it is not used before and you masedek it somewhere ( forgot the place)
1. You go yo welena masreja and
create a company PLC with you and your friends as shareholders
2. Then you should rent an office in the name of your company and have a contract for that
3. You go to kifle ketema neged Biro and register for Negd fekad, Negd mezgeba ( I think it is online now)
4. With all this documents you go to gebiwoch Biro and register for Tin Vat , they will force you to buy cash register menamen
5. Now you have a company, you can sell whatever you want to sell and issue receipts for that
6. Every 3 months you notifay Gebiwoch about your income and if you have one you will pay vat you collected. Also if you have employees, you need to pay their income tax and pensions to the government
7. At the end of the year, sene 30, you do your taxes with authorized auditor and pay annual profit tax to the government
For all of this, you can understand starting a business is not an easy thing and it is Mich harder if you want to close it. So what I want to advise you is if you are dedicated to your business, can focus full time and have enough money for your first few years, do it. Otherwise wait until your app or website is profitable
Jul 13, 2023