company registration

Owning a company is easy if you understand the processes involved in starting one. Fortunately, creating a private limited company in the UK is a straightforward process. However, other than understanding the running of your business, getting the suppliers and producers right, and knowing how to reach your customers, it is essential to register the company. This saves you the legal trouble that you may attract for running an unregistered company. The good news is that the registration process is pretty easy and straightforward if you know how to go about it.

Getting it right the first time ensures that all is perfect and that few hitches are experienced along the way.
 
1. Get the Company Name First

Like it is with most other things, identity is crucial for a business or company. People will come to you because of your name. As such, choosing a good name is one of the initial steps of limited company registration. There are many companies in the industry you are in hence the need to stand out. You can achieve this by simply picking a name that makes you stand out. Carry out the necessary searches to ensure no name replications occur.

Sometimes using an existing name can attract suits and legal battles that a new company does not need. Research extensively, and if it comes to it, involve consultants to do this on your behalf. Getting the name right the first time should not be an obsession.

2. Have Officials and Official Company Address
 
The company's identity does not stop at an official name. It is vital to have a forwarding address that can be used when contacting and communicating with the company in an official capacity. This means that you need to come up with a different mail address that customers and other people interested in working with you may use.

While most contractors use their home address for the business address, it is advisable to separate them. Find out the rules governing the business address application and know what is permitted in your area. 

Certain regions where the business address should be independent room the home address, while others allow the use of one address for both. Carry out extensive research to know what your corresponding territory provides before you get yourself into trouble. When it comes to choosing officials for the company, go with people you know to share your ideas. Sometimes the company comes down simply because there are conflicting ideas. Choose like-minded individuals and include them in your team.

Fortunately, you can always change the officials you work with at a later stage. Your directors must supply an address that goes into the registration documents. It is no longer mandatory to have a company secretary at the registration stage, but you may choose to appoint one if you want.

3. Have a Solid Structure
 
The clarity on who owns the shares must be done at this point. In case you will own the shares or split it with theirs, it must be clear and well documented to avoid any future legal issues. Besides that, you may also want to specify the different classes of shares you wish to have. The terms of dividends must be clarified at this point as well. Discuss the share capital details with experts such as a qualified accountant to ensure that you get this right from the start.

If you choose to have shareholders, then you must be aware of specific details. Anyone that is part of the company as a shareholder should be recognized. Have their details in full. Capture their address, name, class of share, as well as the number of shares they will have. Personal information is also needed. This section captures their birth dates, maiden name, last three telephone digits, passport number, national insurance number, father's name, or eye color. You need to have information that sets them apart.

4. The Articles of Association

Before registering any company, it is mandatory to have a set of articles that serve as the rule book and guide operations. These associations govern the company’s functions and determine the power at each level of the business operation. Directors, shareholders, and any other business participant understand their roles as captured by the articles.

Most companies use generic articles of associations and amend them to suit their needs. Find out what is required for your business before settling on a pre-made article of association. It helps to talk to people who have done this before to get first-hand information. Look around in your circles for people who run businesses and companies to inquire further.

5. Memorandum of Association

 
Apart from the articles of association, any company needs to have a memorandum of the association since this the official agreement confirming the initial subscriber's intention to form a company. In this document, every member must agree to be part of the company and sign to show their willingness. It is the document that authenticates the desire of all participants to be involved all the way. Members need to check their details online when the application is an online one. You do not have to submit any physical document in this case.

Final Thoughts


Starting a new limited company is one of the easiest things to do if you know how to go about it. In case you are clueless but passionate about running a business and want to do it legally, work with business consultants who are experts in this field. The seasoned experts understand all the processes and may advise you as consultants or help you do the heavy lifting at a fee. Alternatively, carry out your research and discover the legal requirements that you need to achieve your goal.

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