Information required to set up a limited company ᐅ Make the right choice!

ᐅ What information is required to set up a limited company?
To set up a limited company, you need to provide several essential pieces of information. This includes choosing a unique company name, registering your company address, appointing directors and shareholders, preparing a memorandum and articles of association, and providing details about your company's share structure.

ᐅ What are the basic requirements to set up a limited company?
The basic requirements include having at least one director (who must be at least 16 years old) and one shareholder. Your company must have a registered office address in the country of registration, and it should comply with specific administrative obligations such as filing annual accounts and an annual confirmation statement.

ᐅ How many directors do I need for a limited company?
You need at least one director to establish a limited company. There is no cap on the number of directors you can appoint, and they can be individuals or corporate entities.

ᐅ Can a single person set up a limited company?
Yes, a single person can set up a limited company on their own. This is often referred to as a sole director/shareholder company, where the same individual acts in both roles.

ᐅ Do I need a company secretary when setting up a limited company?
No, it is not a legal requirement to appoint a company secretary for a limited company. However, you can choose to have one if you believe it will streamline your company's administrative processes.

ᐅ What is the role of the memorandum and articles of association?
The memorandum and articles of association define the company's structure and the rules for its governance. The memorandum outlines the company's objectives and provides details about its formation, while the articles govern how the company operates and includes rules for meetings, decision-making, and the conduct of directors and shareholders.

ᐅ How do I choose a company name?
When choosing a company name, it must be unique and not identical or too similar to an existing registered name. Additionally, it should not include sensitive words or phrases unless you have the appropriate permission.

ᐅ What is required for a registered office address?
A registered office address must be a physical location where official documents can be sent. This address must be in the same country where the company is incorporated and should be publicly listed.

ᐅ What is the process for registering my limited company?
The registration process typically involves submitting your application to the relevant authority or company registry, where you provide all necessary information and documents. This can usually be done online, and upon approval, you will receive a certificate of incorporation.

ᐅ What are the ongoing requirements for a limited company?
Once established, your limited company must comply with ongoing legal obligations, including filing annual accounts, preparing a confirmation statement, maintaining accurate financial records, and keeping the company register up to date.

ᐅ Are there any fees associated with setting up a limited company?
Yes, there are fees involved in setting up a limited company, which can vary depending on the method of registration and the jurisdiction. Typically, this includes registration fees as well as possible fees for professional assistance.

ᐅ What tax responsibilities will my limited company have?
As a limited company, you will be responsible for corporation tax on your company profits. You may also have to deal with VAT if your turnover exceeds a certain threshold. Proper accounting and tax planning are essential for compliance and maximizing your company's benefits.

ᐅ What happens after my company is registered?
Once your company is registered, it becomes a separate legal entity, which means it can enter contracts, own property, and be held liable for its debts separately from its owners. You must ensure that you adhere to all compliance requirements and manage your company effectively.

ᐅ Can I change my company name after registration?
Yes, you can change your company name after registration. This requires filling out the appropriate forms and informing the relevant authorities, ensuring that the new name complies with all naming regulations.

ᐅ How can Cassius Law assist me in setting up my limited company?
At Cassius Law, we specialize in providing comprehensive legal services related to the establishment of limited companies. From offering guidance on the registration process to ensuring compliance with ongoing legal obligations, we are here to support you at every step.

We invite potential clients to reach out to us for personalized assistance. Our team is well-equipped to answer any questions and provide the expertise you need to set up your limited company efficiently and effectively. Establish your business with confidence; contact Cassius Law today.