Historically, most businesses were made up of accountants and lawyers. The process had to be completed by hand and typically took about two weeks to complete. The forms had to be completed by the appointed officers, the documents had to be signed by a lawyer, and then Companies House would process the formation and return a certificate of incorporation.
Fortunately, the Internet has now made the process much easier. It is now possible to complete your new addition in a few hours instead of several days. This has led to the development of company formation agent websites. Now you can form a limited company online without leaving your home.
Using an online registration website is arguably the easiest way to start a new business. It should take approximately 10 minutes to enter your company information. You will need the following information-
The name of your preferred company. It will end with the word LIMITED or the abbreviation LTD. It is sensible to perform a name search to check availability before launching the application.
The address of the registered office. This must be a genuine UK address in England, Scotland, Wales or Northern Ireland if you are forming a Northern Ireland company. You cannot use a PO Box.
Director details (your company must have at least one person as Director)
– Full name
– Residential address
– Birthdate
– Nationality
You no longer legally need a secretary. However, if you are appointing a company secretary, you will need the following information for the company secretary:
– Full name
– Residential address
Share structure information
– How many shares will the company have – 1, 100, 1000, or the number that is preferred
– What will be the value of each share? – 1p, £1, £5 or any amount you prefer
Shareholder details (your company must have at least one shareholder)
If you’re prepared with this information, submitting the details is quite easy. Once you have entered the information above, your company can be formed in just a few hours. Online trainings make the process much faster than paper applications.