Choosing your company objectives and business code so nothing blocks you later
How to write company objectives and pick the business code so they cover the work you really do and hold up for VAT, licences, bank accounts and tenders.
Zura Labs & Business Hub Co., Ltd.
The objectives are the scope of business shown on the company affidavit; the business code identifies the main activity for classification and statistics. Both are checked for VAT registration, sector licences, bank accounts and tender submissions. Good practice: cover what you actually do plus what you plan within one to two years, make the main activity match real revenue, and avoid listing activities requiring special licences you are not ready to obtain.
Reviewed 2026-09-14 by the Zura Labs corporate services team.
- Where objectives appear
- In the memorandum of association and the company affidavit partners ask to see
- Business code
- Identifies the main activity under the DBD classification
- When it is checked
- VAT registration, sector licences, bank account opening, tenders and credit applications
- Can it be changed?
- Yes, by registering an amendment, which needs a resolution and fees
- Licence-dependent activities
- For example transport, tourism, recruitment, food, some construction and financial activities
- What must align
- Objectives, actual revenue, sales documents and the withholding tax income type
How this works in practice
- 01
List the work you actually get paid for
Start from real or first-year planned revenue, split goods from services, and note who pays, because corporate and government clients check that the objectives cover the engagement.
- 02
Add the next one to two years, not everything imaginable
Objectives that are too broad make banks and authorities ask what the core business is, and some listed activities trigger licence questions for work you never do. Include only what you can explain.
- 03
Check which listed activities need licences
If a planned activity needs a licence, sequence when you will apply and prepare the capital, premises and personnel conditions the regulator sets in advance.
- 04
Keep the main activity consistent with tax documents
The income type customers withhold on and the lines on your tax invoices should match the registered main activity. Repeated inconsistency invites questions on assessment.
Reasons this gets delayed or rejected
Copying a long boilerplate list
You gain breadth but lose clarity, and usually inherit licence-dependent clauses unknowingly.
Working outside the registered scope
Counterparties and authorities question your capacity to contract, and tender submissions run into problems.
Main activity not matching revenue
It complicates classification, credit applications and tax review, when it could have been correct from the start.
Answers to the questions we hear most
How many objectives should I register?
There is no single right number. Cover the real work and near-term plans clearly; a typical service business needs relatively few clauses that cover contracting, consulting and related trade.
Is amending objectives difficult later?
Yes, with a resolution and an amendment filing at the DBD — modest fees and time when documents are ready — but covering known plans from the start is cheaper.
What if I bid for government work?
Government buyers check that objectives cover the advertised scope and review past performance, so state contracting and supply scope clearly and keep contracts and delivery documents for every project as evidence.
Should goods and services be separate clauses?
Yes, show both, because tax documents, withholding and costing differ. Separate clauses keep quotations and tax invoices aligned with the objectives.
Can I include import-export just in case?
Yes, and it is often useful because foreign-trade accounts and customs registration look at the objectives — but include it when it is genuinely likely, not as part of an everything list.
Do you draft the objectives?
Yes. We interview you about actual work and revenue plans, then draft the objectives and main activity so they align with VAT registration, bank accounts and any relevant licences before filing.
This is general preparation information, not case-specific legal or accounting advice. Government fees, processing times and conditions change with official announcements. We review each guide on a schedule and show the review date on the page.