What Documents Are Necessary To Form A Company in the UK

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There are not a lot of documents to file when you want to form a company in the UK but each must be filed properly.

Forming a company in the UK requires the various documents be submitted to the proper and respective authorities within a certain time frame. These documents must be completed correctly so that your company can be opened as promptly as possible.

First you must determine the type of company you are planning to form. Perhaps the simplest is the limited company, which can be a public or private company. Private limited companies are often the choice because they can generate money by selling some of their shares on the stock market. Private limited companies also have some requirements that are different from public limited ones. They must maintain a share capital of a specific minimum amount. Such companies must also have two directors, a company secretary and at least two shareholders.

Once you determine the type of company, you need to choose a name and have the name registered. It is important to choose the correct name. Your company name cannot be the same as any other company already in business. You also may not choose words that would amount to a criminal offense or that may be offensive. As of October, 2008, new provisions of the Companies Act 2006 allow creating an opportunistic company name but only if it is not the same name in association with a complaint in goodwill or can be mistaken as a connection between the company and the complaint in the UK.

The Statement of the first directors, registered office and secretary is made on Form 10. This form lists the details of the individuals required as well as the company’s registered office.

Articles of Association are necessary to give a description of the rights of each of the shareholders, the power of the company directors and the roles and responsibilities that each will have. These roles will, in turn determine how the company is run. If a company has limited shares, it can make choice as to whether or not to adopt Table A in complete, with modifications or to make their own articles.

The Memorandum of Association is a listing of the company name as well as the details of the services the company will perform which may either be goods or other products provided. Similarly, Form 12 must be filed, which is a statutory declaration that the information you have filed is not falsified. This document may also include the limited degree of liability of the members, the share capital that will be registered and what divisions those shares are fixed into and a statement that the company will be a public one, if applicable.

Form 12 should not be filled out in haste or indiscriminately. It must be signed by the agent who is completing the form as well as the planned officers. Their signature gives indication that they agree with their responsibilities and will perform in the capacity authorized. Should you add any information to the Form 10, you must also file an amendment to your Form 12.

All documents filed with The Foreign and Commonwealth Office must have an original seal or that of a British public official.

Article Source: http://depositarticles.com/

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