What does a Ltd or Limited company mean? In other words it is a company with Limited liability (also known as LLC). It is a legal entiti with limited liability. This form of company registration is one of the most popular, not only in England but also in other parts of the United Kingdom.
One of the most appealing things about starting a Ltd (Limited) company is that no share capital is required. Also, citizens of other countries may also start such a company. We also provide qualified advice to people living in other countries.
Among several forms of setting up companies, this is the most common due to limited liability, i.e. you, as an individual, are not liable for the company’s financial obligations with your personal assets.
Company registration – what do you need to provide?
- Come up with the title of the company.
- Have proof of the founder/director’s registration address.
- Decide who will be the company director.
- Name the types of activities/practices of the company in accordance with the Standard Industrial Classification code (SIC).
Also, you need to have a deed of incorporation. It must be signed by all the company’s founders (shareholders). The deed of incorporation is a document on which the founders state their agreement to establish their company based on the 2006 Company act, as well as obtain at least one share of the company.
Another very important thing is to have articles of association that establish the company’s operating rules, the rights and responsibilities of managers and shareholders. Articles can be tailored specifically to your company’s needs, or they can be standard, which are available free of charge on the Companies House website. Usually standard articles of association are sufficient for starting businesses.
One of the most appealing things about setting up a company in the UK is that no share capital is required.
After registration of the company with the Companies House, a certificate of registration is issued, stating the name of the company, registration number and the date. This certificate confirms that the registration formalities have been completed correctly and that the company is registered. From this day, the founders (shareholders) of the company can perform all the functions of the operating company. It is important to understand that any operations under the name of the company are legal only after it was registered. Therefore, at your request, we can set up the company for you in a mater of 2-3 hours.
Which business model you choose depends on what kind of business you do. The business model can affect the way taxes are paid and how funding is acquired.
Most public limited companies are “restricted by shares”, i.e. their shareholders have certain rights. For example, a director may need a shareholder vote to agree on changes in the company.
Other forms of registration are: public or sole proprietorship; unlimited liability; limited liability under shares or limited liability under guarantee.
Please contact us directly regarding the registration of a specific activity or the registration of a charity.
We will gladry advise you and answer all pertinent questions.
Should you decide to entrust the bookkeeping to us, we will register the company free of charge after signing a service contract with us.