Age limit for registering enterprises in the Register of Legal Entities
As a general rule, you must be 18 years of age or over in order to register an enterprise in the Register of Legal Entities and, where applicable, the Register of Business Enterprises.
Minors can carry on activity and register it in the Register of Legal Entities once they reach the age of 15. However, this requires the consent of a guardian and the county governor. For more information about this, see the Guardianship Act.
Age limit for registering enterprises in the Value Added Tax Register
The general rule is that, under current tax law, minors, i.e. people aged under 18, cannot carry on vatable activity. As a result, minors can also not be registered in the Value Added Tax Register.
In practice, registration may be permitted if the guardian gives their consent to the minor carrying on commercial activity. In such cases, registration in the Value Added Tax Act must take place through the guardian registering the activity in their name on behalf of the minor.
Age is an important factor in determining who will be responsible for paying tax on wealth and income.
- From the year in which you become 13, you must declare and pay tax on salary from any employment yourself.
- If you are aged 16 or under, your parents must declare your wealth and income (with the exception of salary from employment) for taxation.
- From the year in which you become 17, you must declare all wealth and income for taxation in your tax return.