subject: Registering Different Types of Companies [print this page] When you decide to form a new company, one of the first things that you will need to consider is what type of company it will need to be registered as. There are a number of company designations available and the type you choose for your company registration will depend largely on the exact nature of your business and the future objectives you wish to achieve as an organisation. The details of company registration are quite complicated, but there are some basic facts which can be worth knowing about the most popular designation options.
Public Limited Company (PLC)
A PLC is a type of company which can make its shares available to the general public. By law, a PLC is required to have a minimum of 50,000 worth of share capital, with 12,500 already paid for. A PLC is also required to have a trading certificate, at least two shareholders and two directors (one of whom may be the company secretary).
Limited Company (Ltd)
This is a private company which is limited by shares. A Limited company has shareholders who have limited liability, but unlike PLC's, the shares of a Limited company are not allowed to be made available to the public. A minimum of 1 of share capital is required for Limited company formation. A Limited company must also have a registered office and business accounts must be processed in ways that will satisfy stringent regulations.
Limited Liability Partnerships (LLP)
LLP's are corporate collectives whose legal existence is typically independent of its members. The members of an LLP share joint responsibility for LLP agreements but no one individual is held responsible for the actions of any other partner.
To find out more about the many aspects of company formation and to register your new company online, go to www.ukcompanyregistrations.com
