Follow these four steps to register your business with Companies House using their online system.
You Must First Decide Which Form of Registration You Prefer, Such as a Private Limited Company or Another
The choice of a suitable legal form for your organization is not always simple. Learn about sole proprietorships and limited liability businesses before choosing.
Legally, a solo trader, partnership, or limited liability partnership is a corporation. That’s why the proprietor is on the hook for any financial, legal, and brand damage.
Instead of limiting the founders’ personal risk, limited liability arrangements like Limited Liability Partnerships (LLPs), Public (PLCs), and Private Limited Companies (LTDs) restrict the UK company formation risk.
Limited liability for shareholders and restricted share distribution are two advantages of a private limited company over other types of corporate arrangements. Due to these merits, the structure ranks well among the most preferable alternatives for business owners.
LTDs are the most common legal structure for sole proprietorships, tech startups, and small businesses in the retail sector. This may be accomplished by establishing a business with a £1 share capital and a single shareholder. PLCs need £50,000 in share capital, two directors, two shareholders, and a company secretary.
Pick a Name for Your Business
Using a business name check tool, come up with three potential trade names and see which ones are free to use.
To learn more about business name requirements and how to verify the availability of your proposed name, please read our company name check guide.
Put Together the Paperwork for Incorporation
You’ll need the following items in order to register a company:
- Those who agree to create the firm (the “subscribers”) must sign a legal document called a “Memorandum of Association.”
- The proposed company’s name, office location, directors’ and secretaries’ names and addresses, and the subscribers’ total number of shares are all included in the information required by Form 10.
- Statement of compliance with the Companies Act’s incorporation criteria for a limited company (Form 12).
- Articles of Association – These are the foundational documents that define how a corporation will be run and by whom.
Company Executive Nominations
Company success hinges on the nomination of a director, secretary, and accountant. Establishing a compliant and well-structured organization relies heavily on these critical steps.
A company’s ability to govern itself effectively, maintain regulatory compliance, and manage its finances well depends on the caliber of the people it hires for these roles.
If you still have questions about opening a business in SK or where is my company registration number, feel free to contact Fintech Harbor Consulting.
Make Corporate Appointments
One director is required by law in the United Kingdom for every limited liability corporation. The director runs the company every day and makes critical decisions. Be sure anybody you choose to fill the role of director can effectively carry it out.
Qualifications for Board Membership
Verify the following qualifications for any prospective board members:
- The age requirement is 16 or older.
- Fail to lose directorship eligibility.
- Being a director requires the special consent of a court if the individual is still an undischarged bankrupt.
Methods for Casting a Director
Find a director whose background and expertise are a good fit for your firm by comparing their qualifications to those you have established. Directors must have leadership, strategic thinking, and industry expertise.