Starting an own business is a dream of many people. In general, every business may face various unforeseen challenges from the point of UK business registration. Forming a company should be done with the assistance of an expert to avoid unnecessary confusions. The process should include identifying the specific needs for starting a company, the type of its operation, whether it is going to be a domestic or an international business, if the business registration UK is large scale or small scale etc.
Who are company formation agents?
A company formation agent is a professional that handles UK business registration on behalf of a particular entrepreneur. They work as registered companies and possess great deal of professionalism in terms of UK business registration. The main intention of such agents is to analyze the fullest potential of the financial assets and help you using the best of them.
When it comes to limited company formation, the process includes a series of steps. In fact, the most important part of the process is the registration. Generally, registration comes next to the brainstorming and name selection processes. Practically, United Kingdom is considered to be one of the easiest places for a company to form. After the name is decided, you must check if the respective name is available; this is when the authority called Registrar of Company (ROC) comes to play. In fact, the best way is to submit a choice of names (up to 6) to the ROC; they will respond within a couple of days with the available names.
Drafting of Memorandum of Association (MoA) and Articles of Association (AoA) is the next step. There are some differences between these two drafts and this is another instance in which you require the assistance of a professional. There is some more documentation to be processed prior to the operational level of a company. In general, business registration process in UK can be accomplished within three weeks. The final step of the registration process is paying off the registration fees; once the required amount is paid, your company will eventually receive the unique identity. Once the identity is obtained, your agent who helps in the formation process will help you to acquire the permanent account number and the company seal.
As per the modern developments, there are facilities to register your company online too. Obviously, the electronic registration process is much faster than the manual process. Nevertheless, you will still have to make a physical presence couple of times during the registration process. Below are some of the documents you can send in manually for the process of registration
- The Minutes of the First Meeting Conducted by the Director
- The Electronic Certificate of Incorporation
- The Electronic Memorandum of Association and Article of Association
- Share certificate and company register etc.
All the documents you submit should be accompanied with valid proof to establish the identity. Your company registration agent will be of a great assist in this case.