Starting a limited company in the UK has some requirements. The first step is the registration of the limited company. You can choose different ways to register a limited company. To set up a limited company, you need to get it register with the Companies House. This process is known as the “incorporation”. To register a limited company UK, you should have the following information:
- A name of the company (follow the rules for selecting the name)
- The address of that company
- Name of at least one director
- Name of at least one stakeholder
- The agreement between the initial shareholders for the creation of the company. This is known as the memorandum of association
- The details about the share and right of the company attached. These are known as the statement of capital.
- A written document which will contain all rules on which the company will run. This document is known as the article of association.
- Details about the people who have some significant control over the company. The people who have more than 25% share in the company can be included in it.
- The standard industry classification code of the company. SIC is a number which is used to explain what your company does.
Process of registering a limited company in the UK:
If you want to register a limited company, consider the following steps:
- Decide the basics:
The first step is to decide whether you want to follow the whole process yourself or you want to hire a formation agent for that process. A formation agent will provide you with the legal consultancy and other guidance related to the process. They are the professionals in this filed. On the other hand, you can also choose to start the process on your own.
- Get the understanding:
Before you go for the registration process, you need to have all the information about the types of the companies in the UK, their legal requirements, the documents you may need for the process and the legal obligations.
- Get the basic documents:
For a registration process, you need to have some documents which need to be submitted with the application for registration. The list of the required documents is explained above.
- Final stage:
After completing the documents needed and the application, you can submit all these directly to the Companies House. After the submission, the registration process will start.
These were the steps you can follow if you want the submission to be done by hand. There is another way to register a limited company. It is the online registration process. Before you start the online process to register a limited company UK, you need to have the following information:
- The name and registered address of the company
- The names and addresses of directors
- Details of shareholders
- Details of people with significant control over the company
- The standard industry classification code.
The process will take about 24 hours and you need to pay the amount of £12 through debit or credit card.