Registration of Business Ventures Regulation (2012)

Registration of Business Ventures Regulation (2012)
Promulgated By	The Duke of Montin
Issuing Office	Royal Chancellor's Office
Enactment Authority	Royal Prerogative
Promulgation Date	December 4, 2012
Governing Statute

The Royal Chancellor, The Duke of Montin, hereby makes the annexed Regulation concerning the registration of business ventures.

Definitions

1. For the purposes of this Regulation, the following definitions are made:

1. “Applicant” is defined as an individual having the authority to act on behalf of the Venture in the venture registration process.
2. “Aktiengesellschaft” (AG) is defined as a venture that is legally separate and distinct from its owners, enjoying the rights and responsibilities of a individual in its own right. An Aktiengesellschaft shall be the only venture permitted to operate on the Lonenberg Stock Exchange. An Aktiengesellschaft shall be required to hold a minimum nominal capital as specified by Order.
3. “Gesellschaft mit beschränkter Haftung” (GmbH) is defined as a venture in which the owners actively participate in the management of the venture but are protected against personal liability for the venture's debts and obligations. In this venture, all funds granted by the owner and all profits from operations shall remain under the legal property of the venture itself, and not that of the owners unless paid to them by the venture as salary or, where applicable under the law, granted by other means.
4. “Order” is defined as an order of the Minister-of-State, Home Office, or his designate, effective from the time of publication in the gazette of the Public Records Office, via that website or via the Government Notices forum at the national discussion forums.
5. “Partnership” is defined as a venture that has its ownership shared by two or more individuals, with no legal distinction between those individuals and the venture.
6. “Primary industries" use raw natural resources as major inputs. Agriculture, commercial fishing, mining, and the forest industry are primary industries. They use farmland, oceans, mineral deposits, and forests, respectively, as their major inputs.
7. “Royal Charter” is defined as a venture, registrable only by the Royal Government, that are owned by the Crown and operate as a Sole Proprietorship. A Royal Charter venture is required to be re-registered as another form of venture upon sale by the Crown to private interests.
8. “Secondary industries” use producer goods to assemble their products. For example, the construction industry produces houses, other buildings, and roads. Its inputs include lumber manufactured by the forest industry. The largest group of secondary industries is the manufacturing industries. Manufacturing industries produce a vast array of consumer and producer goods, such as processed food, clothing, heavy machinery, automobiles, electronics, and household appliances.
9. “Sole Proprietorship” is defined as a venture that is wholly-owned by a sole individual, with no legal distinction between the individual and the venture.
10. “Tertiary industries” are those that provide services. For example, retail stores, universities, hotels, banks, television stations, hospitals, and travel agencies are all tertiary industries. Also classified as tertiary industries are all forms of government activity, ranging from local trash disposal to the armed forces
11. “Venture” is defined as one of four authorized business types within the Royal Kingdom: sole proprietorship; partnership; limited liability company; and, corporation.

Regulations

2. Governing Authority:

1. The Minister-of-State, Home Office, shall be responsible for the overall administration and enforcement of the venture registration process and the regulations herein. The Minister-of-State may make amendments to the regulations herein by Order.
2. The Royal Chancellor or his designate, may appoint a Vice-Minister for Commerce and Industry, to serve at pleasure, to administer and enforce the venture registration process and the regulations herein on behalf of the Minister-of-State, Home Office.
3. The Vice-Minister shall not have the authority to amend the regulations herein.
4. The Royal Security Police Service is empowered to investigate violations of these Regulations and, where appropriate, lay charges against offending parties where reasonable and probable grounds exist to believe the offence occurred.
5. Penalties for violating these Regulations shall be as prescribed by Order, or where no such Order exists, by decision of a Justice of the High Court of the Realm.

3. Venture Registration Process:

1. The venture registration process shall be administered by the Ministry of Commerce and Industry or an office thereof to be named by the Vice-Minister of Commerce and Industry.
2. A venture registration shall be accomplished through the submission of a standardized application form by the applicant to the Ministry of Commerce and Industry or its designated office.
3. The registration application form shall be as laid out in Schedule 1 of these Regulations, subject to modification by Order.
Each applicant filing a venture registration shall be required to pay a fee for processing of the application, as outlined in Schedule 2 of these Regulations, subject to modification by Order.
4. The required fee shall be paid in full to the Royal Government by the applicant prior to the processing of the venture registration.
5. Where there is more than one applicant for a particular venture registration, and where the applicants intend to share the payment of the required fee, the required fee shall be paid in full to the Royal Government from only one applicant, to be designated by the applicants, for ease of processing.
6. Five distinct classification types of Ventures shall be permitted to be registered: Sole Proprietorship, Partnership, Gesellschaft mit beschränkter Haftung, Aktiengesellschaft, and Royal Charter.
7. Each single venture shall be permitted only to hold one classification type.
8. Where a venture decides to switch classifications, the venture shall be required to submit a new venture registration application, subject to the payment of the required fee as a new and distinct application.
9. A registered venture shall be considered to be a domestic venture where the applicant is a citizen of the Royal Kingdom.
10. A venture registered by an applicant not holding citizenship in the Royal Kingdom shall be required to add “Gotzborg” to the end of the venture name to signify its foreign ownership.
11. The applicant shall be required to specify a designated industry type during the venture registration process; however, the chosen industry shall not preclude the venture from offering goods or services in other industries within Gotzborg under the same registration.

Schedule 1 – Business Registration Application

1. Name of Applicant –
2. Name of Partner(s) if any –
3. Venture (Company) Name –
4. Foreign or Domestic –
5. Incorporation Type –
6. Type of Industry (primary, secondary, tertiary) –
7. Head Office city –
8. Company Logo -
9. Business Webpage or Forum address –

Schedule 2 – Business Registration Fees

1. Sole Proprietorship - GTh250
2. Partnership - GTh500
3. Gesellschaft mit beschränkter Haftung - GTh750
4. Aktiengesellschaft – GTh1,000
5. Royal Charter – No Fee

[[Category:Government Regulations (Gotzborg)