General Information About Company Incorporation
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. 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.
Company Incorporation: Key Requisites
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 ones time, energy and money. However, to benefit from the procedure, one can hire the services of an authorized company registration agent.
Electronic or manual, both the processes would require submission of the following documents along with a standard registration fee of 20 and 50 for the same-day service:
1.Memorandum of Association This document states the name of the company, the official address and the companys objective.
2.Articles of Association This states the rules for the company.
3.Form 10 This provides details about the companys directors and secretary along with their DOB, current position and previous occupation.
Form 12 is not compulsory. An industrialist can do away with this process if s/he is availing the Internet-based form. However, this process is a must when company formation is tackled manually.
Company Incorporation: Benefits
Company incorporation offers several benefits to the organization. Certain benefits enjoyed by a typical Limited Liability Company (Ltd) are:
1.They never lose the power of shareholders
2.They do not need to hold annual shareholder meetings
3.They can effortlessly traverse taxation and also avoid double taxation
4.There is very little paperwork required after incorporation
5.All members are sheltered from company debts and liabilities
6.Such enterprises can expand their requirements easily, whenever needed.
Contact a company formation agent to register your company in the UK and enjoy these facilities. Company Formations 24.7 is a UK-based company registration agency that provides electronic company incorporation services within three hours, at reasonable prices and without any hidden costs. They also provide attractive cash back offers unmatched by any other agencies. So, visit www.companyformations247.co.uk today and get your companies incorporated at nominal prices.
Visit - http://www.companyformations247.co.uk/
by: Melville Jackson
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