Limited Company explained
- A Limited Company is the most popular incorporation in the UK because of its simple and flexible business structure.
- This type of company is required to have a Shareholder and Director, the Shareholders can also be known as the owners of the company.
- A Limited Company has shareholders who are allocated shares.
- A confirmation statement and accounts must be filed each year.
- All shares within a Limited Company must be allocated to the Shareholders.
- If one member of the company should pull out of the company, the company can still function unlike other types of companies.
- The company name is protected after registration. No other company is legally permitted to trade under the same company name in the UK.
Officers in the Company
You can register a Limited Company with just one person acting as the director and shareholder of the company. The directors are responsible for the day to day running of the company. The extent of their responsibilities are outlined in the Articles of Association.
You are able to appoint corporate officers to a Limited Company, however; you cannot just have corporate officers, an individual director must also be appointed.
You are able to appoint a secretary to a Limited Company, although a secretary is no longer a requirement.
Timescale
Once all company information has been submitted to the company registrar, a Limited Company formation usually takes within 3 to 24 hours (dependent on the company registrar) and is then ready to trade. However; CFS have previously incorporated a company in 6 minutes.
Requirements for a Limited Company formation
- The company name must end with either ‘Limited’ or ‘LTD’.
- The Registered Office Address must be located in the UK. We can supply an address if required.
- A Minimum of 1 Individual Director and 1 Shareholder must be appointed (they can be the same person.)
- The Officers can be of any nationality and reside anywhere in the world.
- Name and Address of the Director and Subscriber/Member. The directors’ and subscribers’ personal address is hidden from public record.
- The minimum Share Capital is £0.01
- There is no maximum Share Capital.
- Minimum number of shares which must be issued is 1.
- All company shares must be issued to a Shareholder
Why use CFS International for your Limited Company?
CFS International are highly experienced in setting up Limited Companies and their UK business start-up team are there to help you with your formation, from start to finish.
They have the ability to form your Limited Company electronically, eliminating the need to sign and complete any paperwork.
All details are entered online, before placing your order. Before you submit and pay for your company, you are able to review all company details you have provided. From here you can also amend anything, if necessary. Once your company has been incorporated you will receive your Certificate of Incorporation and Share Certificate(s) confirming the existence of your company plus many other fully completed documents in your Company Register.
The CFS standard package includes all the documents you need legally to start trading with your company. This is quite unique as most companies charge extra for providing a company register, share certificates, minutes of the first meeting etc.
CFS have the software which allows you to adopt/upload your own specific Articles of Association to your company, free of charge or alternatively you can use the model articles they provide.