What types of business licenses and permits will I need for my business?

Your company may need to obtain one or more types of business licenses and permits in order to legally operate in the country it is registered in. The types of business license will depend on the jurisdiction you reside in, products and/or services you're selling, your company structure, and the number of employees you have. Because there are too many different license and permit requirements in each country/jurisdiction, there is no universal way to know exactly what type you need for your business.

Here are some common types of business licenses and permits you should know:

• Seller’s permit/license: to collect sales tax on any taxable goods/services
• Professional license: required for some specific businesses such as: accounting, legal counsel, plumbing work, massage therapy.
• Financial services licensing: can be divided into 4 types:
  • Broker license: A must-have if you are doing business in trade markets
  • E-money License: For business that needs its own payment system
  • Banking License: Mainly for small credit organizations to provide banking services
  • Financial License: Important license for financial management and investment funds services