Legally registering your small business in the UK

Legally registering your small business in the UK

Opening your own business is one thing everyone dreams of. Most are those who want to increase their income and those who are bored of being employees. Owning your own business can be another way to increase income. Of course the existing paradigm is that opening a business always requires large capital. Whereas in fact there are many types of small capital businesses that can succeed.

After you decide you want to register your business, the first step is to create a company name, for more information : business registration in the UK

The basic requirements when setting up a company in the UK are as follows:
Steps to establish a company in the UK

1. Preparation stage
Consultation: requirements that must be met and plan a business structure in accordance with the role and function of the business entity.

2. Registration of company name: 3 names, written in the desired order. The name chosen must be unique and has no similarity with the name of the company that was previously registered.

3. Company ownership structure: The client determines the list of names of shareholders (maximum 50 people). Legal entities or individuals may be designated as shareholders, but if there is a legal entity that is a shareholder, the company is required to conduct an annual audit. Clients are also required to determine the number of shares held by each shareholder along with the nominal value per share. There is no limit to stock price selection;

4. Selection of director: director of the company, at least 1 (one) director

5. Selection of company secretary: to handle legal administrative affairs and calculate annual returns.

6. Registration of office address: register office address.

7. Memorandum and Article of Association (M & AA): All shareholders sign an M & AA document which includes all regulations and guidelines for corporate governance, including company data: i) share capital ii) company official address iii) director iv) member obligations;

8. Strategic planning: With all the information available, prepare a registration procedure, starting from registering business entities, taxes, business accounts, to business licenses.

9. Preparation of documents: prepare and legalize all required documents.

Hopefully it can be useful Article