With a stable currency, the UK has attracted a large number of big and small enterprises to its province. When a company is conceptualized, besides the tremendous amount of preparation, complicated processes are undertaken for its legal foundation. The entire process of company incorporation is termed as company formation or registration.
In the UK, the company registration process has been simplified by the Companies House, an Executive Agency of the UK Government Department for Business virtual office. The Agency has introduced online registration for companies, which enable entrepreneurs to electronically register their business within a matter of a few hours. In August 2009, a total of 28,222 companies (26,782 in England and Wales and 1,440 in Scotland) have been incorporated.
Although company incorporation is not a difficult task to perform, the enormous paperwork can prove time consuming. The electronic process is comparatively less taxing on one’s time, energy and money. However, to benefit from the procedure, one can hire the services of an authorized company registration agent.
Once you have understood your needs for your foray into the corporate world, it becomes easier for you to take the right steps with your hired company formation agent doing the dirty work for you. Paperwork and the management of a whole lot of details can be really taxing on your mind, especially when you are a newcomer to this field. Now, one very popular choice for avid entrepreneurs is company limited by share, which involves a great deal of formalities to be taken care of.
As required by the rules in forming a company limited by share, you need to step into this project in a partnership bid along with some shareholders who would place their stake like you. The first and foremost step on your part would be to furnish a registered office address from where you would operate the business. The address would also serve the purpose of being the medium of official communication.
The next step in your bid to establish a company limited by share is to nominate a company director and a company secretary among the shareholders, who would be your firm’s representatives in their respective responsibilities. On successful completion of these formalities, the online automated system would take over and guide you through the rest of the procedure, which would follow the payment of the company formation charges.
When all the formalities will have been taken care of, you will be well on your way to corporate glory along with your partners through your company limited by shares. The best thing about hiring company formation agents is that they represent you in all the areas that would have been potential areas of blunder for you. If you cherish a desire to do the same, then a well calculated groundwork over the Internet to choose the ideal agent is in order.