Forming a company in the
United Kingdom
is a great option because of a number of reasons. More than 4 million registered companies in the
United Kingdom
show the preference for business owners to set up their companies in the
United Kingdom
. Moreover, a huge number of new companies are registering each year with the Companies House, the authority for company formation in the
United Kingdom
by the government. This shows that there a certain positive aspects of forming a company in the
United Kingdom
. But the question remains that how to start an
UK
company. Just because so many people are setting up their business in the
United Kingdom
, it does not mean that it is a very easy task. It is easy no doubt but there are certain rules and regulations that have to be followed in order to set up a company in the
United Kingdom
.
1) The start: If you want to set up a company in the
United Kingdom
and you do not know the procedures, there are a number of online agencies that will help you with the A-Z of
UK
company formation, with just a minimal fee.
2) The basics: The most basic necessities to set up a company in the United Kingdom is to think of a suitable name for the proposed company; provide a valid and registered postal address within the that is within England, Scotland, or the Wales and an address proof for that; and one company secretary and one director at least for the upcoming company.
3) The documents: To set up a company in the
United Kingdom
, the following documents have to be produced in front of the Companies House — the official authority for
UK
companies by the government of the
United Kingdom
.
(a) Articles of Association
(b) Form IN01
(c) Memorandum of Association
4) The owner: A company that will conduct lawful business in the United Kingdom can be formed either by a single person or a group of persons. But for this, they have to register their names with the memorandum of association and also comply with all the necessary legal requirements.
5) The company name: The name you choose for your company can be used provided that it has not already been chosen by someone or it doesn't collide with some other company's name as per the company name index kept with the Companies Houses. Moreover, neither can you reserve a company name for long without finalizing it, nor can you change it later unless emergency circumstances arise.
6) The cost: The cost for forming a company will depend from £15 to £50 depending on the type of company you aim to set up.
There are also a number of other rules and regulations that needs to be followed if one wants to start a company in the
United Kingdom
, but above are the basic things you need to know for starting a
UK
company.