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Date : 03/10/2014
Author : Rebecca - Italy
There are seven main types of company
Who can form a company?
According to the Companies Act, one or more individuals are able to set up a company, as long as its scope is not illegal, by underwriting its memorandum of association. Two subscribers will be necessary for a public company or an unlimited company.
How do I setup a company?
Ready-made companies are provided by offshore company formation agencies such as GR MORGAN FORMATIONS. If you wish to setup a company on your own, you will have to submit the following documents to the Registrar of Companies:
Community interest companies (CICs)
If you wish to set up a CIC, the following documents need to be submitted along with the above mentioned:
The following documents have to be in a form approved by the CICs Regulator.
What is a registered office?
It is the address provided to Companies House where all post and notifications will be delivered. It can be any location in England and Wales as well as in Scotland if your business is registered there. The registered address must be a valid address for sending documents; responsiveness in dealing with all the post received is crucial in order to prevent issues. In case the registered office is moved somewhere else, Companies House must be notified of the change by Form 287.
What is the minimum number of officers a company requires?
It is important for every business to formally appoint officers.
The minimum structure required for a private company is:
The minimum structure required for a public company is:
Company officer's responsibilities under law are wide ranging. Companies House must be informed about:
Can anyone be a company director?
Yes, but some regulations are set for it. A person can’t play such a role in a company if:
What happens to the documents sent to the Registrar?
The company documents are subject to certain checks including checks of prospective officers against the Disqualified Directors' Register.
Am I able to select any name for my company?
Clearly, you are not. There are a few restrictions on this matter. The name of your company cannot be reserved and applications for formation are not processed strictly in order of time or date of receipt. In case, Companies House get more than one application for registration with the same company name, only one will be considered.The other or second applications will not be considered since the name of the company would then already be existing in the names index. There are no guarantees about which application will be processed first; generally applications sent through the electronic procedure are processed quickly than the ones sent on paper.