Company Formation with Premium Service

What is a Limited Company?

Most people choose to set up a standard limited company, as this structure suits almost every type of trading. A limited company is a business entity that is legally separate from its shareholders and directors. Even if there is only one person acting as both, the company still exists as an independent legal body that can own assets, enter contracts and be sued in its own name.

The main benefit is “limited liability”, meaning that, except in cases of fraud or serious misconduct, owners are responsible for business debts only up to the value of their investment.

Three main types of a limited company in the UK are a private company limited by shares, a private company limited by guarantee and a public limited company.

What Information Do I Need to Form My Company?

In order to set up a new company, you must provide:

• Company name. Use our company name checker to make sure that the name you want is not already taken by someone else.
• Company address. It could be your home or trading address. If you do not have one, do not worry – some of our company formation packages come with a registered office address service. 
• Personal details for directors, shareholders, and PSCs (People with Significant Control). This includes residential address, date of birth, and nationality.

Lastly, for more information, please visit the Required Information page.

How Long Does It Take to Register a New Company?

Companies House is open from 9am to 5:30pm Monday to Friday. It usually takes 3 to 6 hours for them to form your company, but it could take longer if they are busy.

If you need your company incorporated quickly, add the Same Day Service option at checkout. This service is subject to Companies House availability. Make sure to finish your application before 1:30pm from Monday to Friday.

What Documents Do I Get When My Company Is Formed?

After forming your company, you will receive digital copies of:

• Certificate of Incorporation
• Memorandum & Articles of Association
• Company Register
• Share Certificates
• Minutes of the First Board Meeting

Depending on the registration package you pick, you might also get printed company formation documents and extra papers.

Do I Need Proof of ID for Company Formation?

As a UK company formation agent, we follow “Know Your Customer” (KYC) rules and, consequently, need proof of identity and address for our customers.

If you live in the UK and open a limited company, we will use the details from your order form to check your ID and address. Most of our customers (90%) pass our digital ID checks.

However, if you cannot use our digital ID check or do not pass it, we will email you a request for the required information and documents. For more details, you can check our ID requirements.

Can a Limited Company Be Formed by Just One Person?

Yes, a single person can set up a limited company online. In this case, that individual would serve as the sole director, shareholder, and person with significant control (PSC) of the company.

How Many Limited Companies Can I Own?

You can own as many private limited companies as you want. You can be a director or a shareholder in all of them. However, when applying for a bank loan or bidding for a contract, you might need to tell people about other companies that you own.

And, if you are a company director, you must ensure that you comply with your fiduciary duties to each company. So, while there is no legal limit to forming multiple limited companies, it is important to consider the practical implications before starting or investing in multiple businesses.

What Is the Minimum Share Capital for Incorporating a Company?

In the UK, the smallest amount of share capital needed to create a limited company is £1. Companies House requires a company to be registered with at least one share, worth at least £1. This is the minimum share capital needed to start and run a private limited company.

What Are the Annual Filing Requirements for a Limited Company?

There are some things that a limited company must do every year. Indeed, these steps are crucial for staying compliant with regulatory authorities and maintaining good financial health:

• File a confirmation statement;
• Submit annual financial accounts;
• Complete a Corporation Tax Return.

How Much Does It Cost to Set Up a Limited Company?

The cost of setting up a limited company can vary based on your specific needs. For example, our Basic package is our most affordable option and includes the Companies House filing fee.

You might also need additional services like a registered office address or VAT registration. We offer other company registration packages that include these services and more, giving you added value.