How to Register a company in UK?
How to Register your company in the UK?
With the ever-growing potential of Businesses and Companies in the UK, more and more people want to establish new companies in the UK. For that, they need to form and register their companies. Often, these aspiring company shareholders and owners do not know about the registration process, and often, their business plans are delayed because of their lack of understanding of the company registration process in the UK.
Here is your complete guideline on Company Registration in the UK.
The basics never change. In the United Kingdom, the official registrar for Company Formation is the Companies House. In order to register your company, you have to provide your company details to them through their website, post, or an expert Company Formation agent.
The Company registration process involves filling in the following details about your company.
Potential Company Name:
This is the official name of your limited company that will be unique only to your company and used by Companies House to refer to your details and protocols. It is advisable to keep the name distinct, unique, and related to your business. This results in long-term gains as your company name sticks with your clients in the long run.
Registered Official Address
Companies House needs to establish your credibility and hold you accountable. For that, it requires your official company address that serves as your official address and can be used for communications with your company.
Details of Company’s Director
You have to provide personal as well as professional details about your company’s director like his residential address, official address, contact details, and names/titles. These details are important because Shareholders may serve as the directors of their respective companies too. The minimum age limit for a director is 16 years.
Details of Shareholders/Subscribers
One Shareholder from your company will register with the Companies House. Generally, you will submit details like name, address, professional, and contact details, along with an online signature for registration.
Articles of Association
This covers names of the company members, agreements, guarantees, rules, and regulations for Company Formation. Often, Company Formation Services can take care of these details for you.
Memorandum of Association
Issued and attached by Companies House on the basis of your Article of Association.
PSC (Person with Significant Control) Details
Similarly, one shareholder from your company will be appointed as the person with significant control. All his basic details, as well as the nature of control, must be submitted to the Companies House UK for Company Registration. Also, the nature of Control depends on the percentage of shares.
Statement of Capital and Initial shareholdings
This covers details about the types of shares and their respective ownerships among the shareholders. Thankfully, the company formation agents can optimize these details for you.
Statement of Guarantee
Commonly, this is the financial guarantee statement provided by the guarantor in case, your company involves one.
Standard Industrial Classification (SIC) Code
Issued by the government to identify your industry of operations. Generally, Company formation agents can provide you with their list to choose and decide your SIC.
Moreover, it is advisable to hire the services of Expert Company Formation Services like Liscard Business Centre, who can accelerate the company formation process, as well.