This is a guide on how to set up a UK Limited company in 4 easy steps.
Step 1 - Choose your company name.
You should check that the name you wish to register is available. You may check this using the Companies House name check tool by clicking here.
Your company name cannot be the same or similar to an already registered company. You may read further about company rules here.
Step 2 - Confirm the details of your directors and company secretary
Your company must have at least one director. Directors are legally responsible for managing the company and preparing company accounts and reports.
A director must be 16 or over and not be disqualified from being a director. The company directors do not have to live in the UK but companies must have a UK registered office address.
Step 3 - Confirm details of your shareholder(s)
You will require at least one shareholder.
Limited companies are ‘limited by shares’. This means they’re owned by shareholders, who have certain rights. Limited companies tend to have 'ordinary shares'. This means that directors get one vote each on company decisions.
Step 4 - Create legal documents
When you register your company you will require
1. Memorandum of association. This is a legal statement signed by all the shareholders agreeing to form the company.
2. Articles of association. This document contains the written rules about running the company agreed by the shareholders, directors and the company secretary.
Provided that you provided all the required information, your company should be formed within a couple of hours from submission.
You may wish to find out more by clicking here.
Buckingham Capital Consulting is a leading international consulting firm, specialising in payment services, electronic money, banking and investment services. For more information, visit our website on www.buckinghamcapitalconsulting.com