And by that I mean should it be as soon as you have your idea? Or should it be after the idea plus analyzing markets, competitors and creating a strategy? Or should it be after ideas, analysis and development of your service, software, product or inventory to the point of being ready to sell as soon as you start? At what point and why do you think it's the right time?
the right time is when you feel sure about becoming a success in my eyes. There is no value in registering a company without a market analysis or a check if you will be able to deliver the product. At the same time you will of course have to setup the company before you have to pay the first bills as only than you can deduct them
Just keep in mind that once you register, from that day forward your business is a taxable entity and must comply with quarterly and annual tax requirements.
The Right Time is that when you are confident that now you can start and able to do all task with full confidence. That is the perfect time. Before starting a company you have learn a time management.
You want to keep your business as simple as possible for as long as you can. That means that if you can manage to set it up and run it as a sole proprietor, then you should. In fact, I suggest that you avoid creating a company at all. Nullifi3d is absolutely right. Once you form a company in a legal sense, you start incurring fees; not just in taxes, but also in accounting. And you needlessly add a level of complexity that you can probably live without.
Have enough knowledge in everything first so that when you start it's a straight smooth selling and won't be stuck for long on just nothing. But you can also start now and learn along the journey
First of all, you should know the ways of earning, if you are too confident about any way of earning then you can register a company depending on the ways you are using, this way you can find a suitable name for your company too, as company has life, it would go longer so the foundation should be strong.
I say a good time register is when you have something you can show potential investors to raise money, before that point there's nothing really to register. If you're not trying to raise money, then you should have something marketable to show potential customers clients.