Frequently Asked Questions about United Kingdom company formation
You do not need to be a UK individual to have a limited company. A foreigner can have 100% ownership of the UK company.
A corporate body or organization can be a director of another organization, however, it can't be the main executive – there must be no less than one other director who is a "characteristic" individual.
| Private Limited by Share | LLP |
|---|---|
| Can be registered, owned and managed by just one individual – a sole person acting as both the director and shareholder | A minimum of two members are required to set up an LLP. |
| The liability of shareholders or guarantors is limited to the amount paid or unpaid on their shares, or the amount of their guarantees. | The liability of LLP members is limited to the amount each member guarantees to pay if the business runs into financial difficulty or is wound up. |
| A limited company can receive loans and capital investment from outside investors. | An LLP can only receive loan capital. It cannot offer equity shares in the business to non-LLP members. |
| Limited companies pay corporation tax and capital gains tax on all taxable income. | LLP members pay income tax, National Insurance and capital gains tax on all taxable income. The LLP itself has no tax liability. |
| You need to inform the Secretary company for each time changing of director, shareholder. | It is easier to change the internal management structure and distribution of profits in an LLP. |
Registration Address only receive mailing from local government authority related to your registration, annual return and tax return (if any for some jurisdiction).
Virtual address service allows your company to have a local address and to receive mail there, sometime you can have a local phone number, which, in some cases, can lend more credibility to your company.
A business secretary is by and large named to take care of a percentage of the executives' obligations, for example, keeping up and documenting statutory registers and organization records.
Moreover, the Secretary company will provide a business address for you.
The minimum requirement to form
- UK Private Limited Company (LTD) is
- At least one shareholder
- One director, who can be the same person.
- For the LLPs
- At least 2 members must be provided.
- FF Advisers Ltd will provide a registered office address and secretarial services.
In order to set up a UK Private Limited Company, FF Advisers Ltd will need:
- Passport of each shareholder/beneficial owner and director
- Proof of residential address of each director and shareholder (Must be in English or certified translation version)
- Short description of your business activity
All limited businesses are lawfully needed to have an authorized workplace address. All legal mail will certainly be sent out right here and the address information will certainly be presented in a public document.
The service address is the main call address for every specific firm director, where any type of legal mail, notifications, or business-related interaction for specific directors will certainly be sent out.
Yes. Numerous business directors provide a solitary address for usage as their domestic address as well as service address.
There is no demand for the service address to be in the UK. The solution address needs to be an efficient address and this could be in the UK or overseas.