Limited Company in the UK is one of the most common forms of doing business in the UK.
In order to register Limited, the owners must provide the following information:
- Proposed company name
- Registration address (Registered Office)
- Company capital – minimum value £1
- Personal data of the director(s) and shareholders
Limited can be registered in the UK within 1 day, and the documentation package received from Companies House allows you to start your business immediately and complete further formalities, such as opening a company business account, registering your business as an employer or registering for VAT purposes.
As far as the advantages of Limited in the UK are concerned, they are as follows:
- Low Share Capital required – Limited Company’s legal minimum share capital is £1 symbolic
- Quick registration – Due to the possibility of express registration, a full set of registration documents from Limited can be obtained within 1 working day from the moment of registration. This possibility is ideal for people who, for various reasons, would like to have company registration documents in a very short time.
- Limitation of Liability, as the name implies, ownership of Limited describes the limitation of the financial liability of its owners. In short, this means that, in the event of a bankruptcy, the owners of a company are only financially liable to the extent of their declared capital – without risking private interests or assets.
- Name reservation – one element of corporate law is that there cannot be two Limited companies with the same name, so registration guarantees that no one else will be able to use the name of your choice.