The United Kingdom (UK) a wonderful venue to start a business. There is always scope for a bigger market and success here. The laws of the UK will consider your company to be a separate entity and your personal assets will be safe in case something goes wrong with your company in future. Company formation in UK is not a very difficult task, but you should know the proper way of doing it. When established through proper legal procedure, your new company will be an asset for you in the future.
Generally, a limited company is a separate legal entity that exists under the authority granted by a statute or a regulatory body. A limited company in United Kingdom is a corporation whose liability is limited by shares (Ltd). It is the most reliable definition of a privately held company. Such a company has all the legal rights of an individual and is totally responsible for its debts. Generally, a limited company in UK is registered in England and Wales, Scotland or Northern Ireland.
But before a company formation in the United Kingdom (UK), you need to do a perfect homework and preparing for yourself for the huge project that lies ahead of you. You should keep an eye on the issues that might be important you for your company formation. The first step in this regard is acquiring a valid address in the country. Address proof is essential before register your company. Then comes the registration process itself which is the second most important task before a company formation. You can register your company in the Companies House or can register your company online also. Filling the Memorandum of Association and Articles of Association forms is also an important part of the company formation process in UK. Specially, Form 10 which will specify the details of the organization like names of the secretaries, officers, directors, investors etc. of the company.
Before the process of company formation in UK, there are two important decisions that you need to make. Firstly, you need to decide whether you want to avail of corporate status for your company, or simply want to register it under UK Companies Act. Secondly, you need to find an appropriate name of your company. No two companies in UK can have the same name according to law. Besides, some names cannot be used as company names, as these are marked by The Department of Trade and Industry as sensitive names.
A lot of registration services have come forward in the last few decades in the United Kingdom to help in the registration work for company formation. Many of these services are automatically and electronically available all round the clock, 24×7 and 365 days.