Every day, hundreds and thousands of entrepreneurs set up their businesses across the globe, which requires them to undergo company formation in the beginning. In the United Kingdom, aspiring entrepreneurs constantly search for information related to company formation in UK to lay a legal foundation before kickstarting their businesses. 

In this simple query piece, we will give you much-needed clarity about the company formation process, all in just one simple & short scroll.

Let us first understand the main term ‘company formation’:

What is company formation?

Company Formation is a legal process of incorporating and registering a limited company (with Companies House) by applying for the registration process: online, or by post directly, or via an agent, which may take around 3 to 6 working hours to officially form the company.

Under the Companies Act 2006, a limited company takes the form of an individual entity and further exercises its full control on finances and liabilities, keeping itself distinct from company owners. It can enter into contracts in its name, provide protection, and even take ownership of all the assets.

Now, let’s go country-specific and understand. But before we plunge into it, let understand:

Why is it important to go for the formation of the company in UK?

 

The formation of the company in UK comes with several benefits like government incentives, the amount increased for technology processes, to name a few. These are motivating factors for any applicants who are applying for the company formation process in UK.

 

Take a look at the formation process in UK. There are more similarities than differences regarding the company formation process among countries. Among countries would have more differences and fewer similarities, but overall, the process is pretty similar among nations and continents.

What is the process for company formation in UK

The Company Formation in UK is a pretty simple, quick and affordable legal process that involves registering a company: online, or by post, or via an agent. Only the registration process only takes 3 to 6A hours, the rest takes a little while. This whole process is divided into 4 different stages: promotion, registration, incorporation, and commence of business.

Time required to register a company in UK

After all the paperwork and submission of the documents to the Companies House, it takes anywhere from 3 to 6 working hours for your company to be officially formed via registration. Sometimes, it may take more time due to certain complications. Otherwise, it doesn’t take much longer. 

If you are applying for the formation of the company via post, it may take anywhere from 8 to 10 working days. The process for submission works much faster, and save you a great deal of time.

Getting each and every document ready and checked by the person forming the company is a tedious and meticulous process that needs to be precisely followed through. 

Requirements for the Formation of a Company in UK

We have enlisted below a list of things that you will be needing to proceed with the application process for the registration of your company. Among many, here are a total of 8 key things to remember:

1. You need a Company name

2. You also need to provide a Registered Office Address

3. The company Director is required

4. Need to mention a shareholder

5. Get Memorandum and Articles of Association ready

6. The Share Capital of One Share Issued

7. Standard Industrial Classification SIC (code) is a must

8. Order of New Company Online

Making sure you have all the details and documents ready will ensure a quick process of company formation in UK.

Let us dig deep and, more specifically, learn about:

Company Formation in London

The process for the company formation in London is also quick and reasonable. and can be done by registering the company: online, post, or agent. Even in London, registration takes anywhere from 3 to 6 working hours. 

Any place that comes under UK will follow a similar process for the formation of the company. 

Company Formation in Birmingham

The Company Formation in Birmingham is not any different than in London. The process is similar and affordable. All you need to do is get your documents ready, fill-up the form for the registration, and further proceed with the rest of the process. 

You might have several similar queries pertaining to Company Formation in UK, or London, or Birmingham, to be more specific. We have enlisted below some important questions that you might be able to make use of.

What are company formation services?

 

Company formation services are basically businesses or agencies that help you form and register limited liability companies in UK by walking you through the entire process, getting all the paperwork and documents ready, and helping you fill-up the form to be submitted along with your application. 

How to Get the Form for Company Registration in UK?

You can visit the UK Government website and download Form IN01, and send it to the Companies House postal address. It will take around 8 to 10 working days and will also cost you around £40. 

Is it advisable to seek out an agency for the company formation in UK?

Not just UK, it makes sense to find an agency anywhere in the world. You might think why is that so? Why can’t I do it myself? Yes, you can, but these agencies can make the company formation process in UK quite smooth and hassle-free. 

Top agencies or agents in UK have adequate knowledge and experience required to walk you through the entire process in a simple and easy manner. You can rely on them to get the work done and save yourself more time.

Conclusion:

The company formation process is simple but requires relevant documents to start with the registration process and proceed further with the formation process and its formalities.