Company Formation Procedure and Rules to Starting a Successful Company

The establishment of a business enterprise is likely to face unforeseen challenges each step of the way. Don’t form a company with people who do not know how to go about the whole process. Recognize your specific needs for starting a company, whether they are domestic or international, whether the online company formation that you are planning is small or big. Company formation agent(s) are registered companies that render their specialized services for all your needs. They fulfil your objective by realizing the full potential of your financial asset and make optimum use of it. best registered agents

The whole process of limited company formations go through a series of steps. The registration process is the most important step and this comes after a brainstorming session of choosing a name. Of all the places in the world, the United Kingdom is the easiest place for company formation. Once the name is decided comes the task of getting it approved by the concerned Registrar of Companies also called ROC. You can submit a choice of names and the ROC will respond within a few days on the availability of names. A person seeking to start a new company can submit up to 6 names at a time. Next comes the drafting of Memorandum of Association and Articles of Association. (MoA and AoA). There is a subtle difference between the two; MoA concentrates on important clauses associated with ltd company formation and AoA deals with internal functions of the company. The two main clauses in the MoA are the authorized capital clause and object clause. Authorized clause deals with extent of expansion you can go to with your company and how to issue fresh shares in the future.

Objective clause deals with the objectives of the company. Once these are done, they are formally drafted and printed to be sent to the ROC for their perusal and objections or suggestion if any are noted. The accepted documents are duly stamped and sent to the registrar. These documents also contain details of appointment of important people in the company. The whole process of company formation UK takes less then a three-week period. The last step involves paying off the registration fees and the company is finally registered under the Companies Act of 1956 and gets its unique identity. Your company formation agent will also help you in acquiring the company seal and other relevant things like permanent account number.

You can get the ltd company formations process done electronically too. The process is much faster, but you will have to make a physical presence once or twice before the whole process is finalized. Here are some of the documents that you can send in a.pdf format via email for online company formations. The Electronic Memorandum of Association and Article of Association, The Electronic Certificate of Incorporation, The Minutes of the First Meeting Conducted by the Director, preferably in MS word document and lastly, details regarding the share certificate and company register.

There are several online company formation agents in UK that have years of experience and many successful formations to their credit. They have established name and reputation; all enough to ally any suspicions. They conform to the Companies Act, 2006 and Companies Act 2008 and update their information systems by careful monitoring. As per the Due Diligence requirements, the online documents should be supplemented by postal documents sent within a period of 14 days. The documents should contain all the valid proof needed to establish your identity and proof of address.

There are certain rules that go with incorporating a private ltd company formation. A minimum of two shareholders and two directors are necessary. The number of shareholders are usually limited to fifty and the transfer of shares among shareholders and restricted. Deposits from directors, members and their relatives are allowed, but not of others.