Forming a company in the UK is one of the wisest decisions one can take. It is an ideal location where you can make investments in Europe. Forming a company means you can generate huge sums of money and gain reputation in market on its basis. But, for that, you must be sure what company type do you prefer. Certain steps are to be followed to form a well-established company in the UK. 

 

The Type of Business You Prefer:

You are required to decide whether you are looking for a limited company, a sole trader or a business based upon partnerships. A limited company is where directors are recruited to look after the company and is included in the Companies House. If you are looking forward to becoming a sole trader instead, it is the one where you own the business entirely and can appoint other people as well for your assistance. If you go for a partnership in business, the tasks are to be distributed among the partners.

 

Name of the Company:

Once you have selected the type of business you want to form a company in the UK, you should now decide the company’s name. For instance, if you wish to set up a private limited company, the company name should include “limited” or “LTD” specifically, in last. Also, it must not have any objectionable and disrespectful words.

 

Select the Directors:

The private limited company you choose is supposed to be run by a board of directors. They are responsible for entirely managing the company. At least two directors can be appointed for a company who must not be less than the age of 16. The directors must comply with the Companies Act.

 

Look For The Shareholders:

A minimum of one shareholder is required for the company. Later, he can become a director too. There is not any restriction on the number of shares or the total shareholders.

 

Get Your Documentation Done:

There are two documents which are mandatory for a company to have are Articles of Association as well as Memorandum of Association. The Articles of Association is an agreement regarding how to run the company, where the shareholder and the company are involved in the agreement.

 

Have A Look At The Records:

Every company has a set of records regarding accounting, finance and transactions. These records are to be kept for six years.

 

Go For The Final Registrations:

Once you are done with all these, you are supposed to get your company registered. An office address must be given by you and you are supposed to select a SIC code.

 

Conclusion:

These are some of the steps which can be of great help for the ones who are looking for establishing a company in the UK. To form a company in the UK, you can also lookup for Seed Formations, which is a company formations agency and offers you great assistance. You can select any of their packages to form a company within one day. You can make online payments here and visit their website www.seedformations.co.uk for more details.