The formation of your limited company is a very important first step to your business . There are a number of important decisions that will effect your business :
The Name of the Company - is it available, can it be challenged by other companies with similar names, does it contain any sensitive or protected words that will by challenged by Companies House?
The Company Officials - is your company best suited by 1 director or a board of directors? . Does your company need a secretary.? How much should your officials be paid ? Should they be shareholders?
The Shareholders - How many shares should your company issue and to how many shareholders? Should all shares have equal voting and dividends rights? What price do the company charge for the shares - is share premium appropriate? Would the company be better suited to be limited by guarantee rather than owned by shareholders?
Registered Office - Which address would be most beneficial to your company and
provide the protection to the directors and shareholders?
Some of the above can be changed at later dates but this causes delays and can result in costly professional fees. Some cannot be changed and can result in a further new company being required or using a company with restricted tax options.
All banks insist on company house records exactly matching the details provided during your account opening application. It is common for differences to lead to delays of weeks before your company accounts are open
BUYING A COMPANY OF THE SHELF CAN APPEAR TO BE THE QUICKEST WAY TO START YOUR COMPANY BUT A NUMBER OF CHANGES TO THE ABOVE WILL BE REQUIRED AND THE COMPANY STRUCTURE MAY NOT BE THE MOST BENEFICIAL TO YOUR BUSINESS.