Incorporating a limited company—fundamentals
Incorporating a limited company—fundamentals

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Incorporating a limited company—fundamentals
  • Contents
  • What is a company?
  • What is a shelf company?
  • What are subscribers?
  • Who are people with significant control (PSCs)?
  • What are the rules regarding the first directors and company secretary?
  • What form of constitution is required to incorporate a company?
  • What is a memorandum of association?
  • Is a registered office required?
  • More...

Coronavirus (COVID-19): Following the COVID-19 outbreak, some Companies House filing and other administrative procedures have been temporarily suspended or changed. For further details of the impact of COVID-19, see Practice Note: Coronavirus (COVID–19)—impact on company filing and administrative procedures.

One of the key reasons for choosing to incorporate a company as a form of business vehicle (as opposed to a sole trader, a partnership or another form of business vehicle) is that it is a separate legal entity which can enter contracts in its own name and is responsible for its own debts and liabilities. One of its key attractions is that its shareholders benefit from limited liability. The perceived main disadvantage of carrying on business using a company limited by shares is the level of public disclosure such companies are required to make through filings at Companies House.

This document considers the key considerations and steps to be taken when setting up a company limited by shares or guarantee. For information on other forms of company see the following resources Practice Notes:

  1. Unlimited companies

  2. Community interest companies

  3. Unregistered companies

Contents

What is a company?

What is a shelf company?

What are subscribers?

Who are people with significant control (PSCs)?

What are the rules regarding the first directors and company secretary?

What form of constitution is required to incorporate a company?

What is a memorandum of association?

Is a registered office required?

How is a company

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