On the territory of Britain there are several options for the design of your own business. Before applying for registration, you need to decide which type of business activity is more appropriate.
The legislation of the UK allows you to register commercial organizations according to the following types:
- Private Company Limited by Shares. The responsible person is a manager whose guarantee is limited to his personal capital.
- Private Company Limited by Guarantee. This type has a small range of activities: charitable foundations and other non-profit enterprises. A surety is a firm’s assets that will be lost if the firm closes.
- Private Unlimited Company, where the responsibility of the founders is not limited. There should be at least two of them.
- Private Limited Company. The liability of shareholders limits their shareholding. If the company has problems, the shares will be sold under the hammer. There must be at least two founders and a decent start-up capital.
Business in England requires registration of all documents. This process takes place according to a simplified system. In order to register a company, you need to prepare the following documentation:
- Filing a petition implies writing an application. It contains all the data about the future company and the owner.
- The charter of the company. The document is drawn up in English and certified by a notary office.
Opening a balance account in London for profit turnover and tax deduction.
The Bank of Great Britain is opening a balance sheet on which the initial capital will be, and the contract must be notarized. The compilation is strictly in English. The minimum capital is $300,000. The more this amount is, the more loyal the registering authorities will be to the entrepreneur.
After the approval of the application, registration in the Registration Chamber follows. The state duty is $ 30, the production of the company’s seal is $ 100.