London Bookkeepers | How to Set Up a UK Limited Company | Bookkeepers

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How to Set Up a UK Limited Company

Minimum Requirements To set up a limited company in the UK, there should be a minimum of one appointed director. The entity can have more directors all of who must be over sixteen years old. But the limited company should have its registered office in the United Kingdom and at least one share at the point of incorporation. Also, it may be necessary to appoint a company secretary to help with the administration of the company. It is not mandatory that all the shareholders, the secretary and the directors be based in the United Kingdom. UK laws allow anyone to own or manage a limited company. However, at least one person who is over 16 years should be based in the UK. The address of the directors that includes the street name must be provided. Further, in the UK, corporate entities are allowed to act as shareholders, secretary or directors of a limited company. But, when you use corporate entities, it becomes difficult to open a bank account. Typically, most entrepreneurs appoint a person to serve as director and shareholder. Below is an outline of how to register a limited company. Setting Up and Registering a Limited Company It is a seven-step process that includes: Deciding that you want a limited company Choosing an appropriate name for the business Appointing the company secretary and the director Choosing the guarantors or shareholders Preparing the documents that detail how you will run the company Checking out the accounting records that the law requires the company to keep Registering it with the Companies House.
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