Forming a limited company

It is possible to set up a limited company independently, however it is advised that a specialist formation agent is used in order to avoid unnecessary mistakes and obstacles

You must first decide on the following:

·      Is you company going to be private or public limited by shares, or a private company limited by guarantee

·      What the purpose of the company is and its capital requirements

·      Whether the proposed company name is available and acceptable

A Form IN01 is used to apply to form a company. This is to be accompanied by a Memorandum of Association, the articles and the correct registration fee.

The Memorandum of Association serves the purpose of evidencing the intention of each subscriber to form a company and become member of that company.

Companies that wish to incorporate as limited by shares must present a statement of capital and initial shareholdings along side the other documents.

 

Directors

All companies must appoint at least one director, whom must be a natural person aged 16 years or over. For each director, the following information must be provided:

·      Full forename and surname

·      Any former names used for business purposes

·      Full service address including town, county and postcode

·      Usual residential address

·      Country/State of residence

·      Date of Birth

·      Nationality

·      Occupation

·      The number of shares, if any, the director is to have in the company

·      Security items from the criteria required by Companies House

 

Shareholders

For each shareholder the following information must be provided:

·      Full forename

·      Surname

·      Full address including town, county and postcode

·      The number of shares the shareholder is to have in the company

 

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