If you’re preparing for company formation, you need to decide on the sort of company structure you will be using to register your business.
In the UK, there are four main types of company. Companies limited by share are the commonest form of corporation in the UK. They are owned by one or more shareholders.
Companies limited by guarantee are usually non–profit organisations. If one of these organisations makes more money than it spends, this is called a surplus rather than a profit. There are no shares, and members are known as guarantors rather than shareholders.
Public limited companies or PLCs, are usually bigger, profit-focused businesses. These organisations can raise money by selling shares on the stock market, must have share capital of at least £50,000, and need to have at least two directors and a qualified company secretary.
Finally, there are the lesser-known unlimited companies which are registered with no limited liability. This type of incorporation is often used by sole traders and partnerships, and may or may not have a share capital.
You will need to appreciate the different types of organisation when it comes to company formation and registering your own company.
At UK Company Registrations, we can make the whole process of company registration really easy and cost-effective, whatever type of business you are setting up.
Thanks to our secure online system, you could be up and running in as little as three hours. Learn more from our website today.
