If I reside outside the UK then am I allowed to select a name of choice for my new Ltd Company?
Rules for name availability are complex. Generally, name has to be unique and end with ‘Limited’ or ‘Ltd’
- Avoid usage of offensive or abusive words
- When comparing similarities with another already registered names ‘&’, ‘the’, ‘and’, ‘company’, ‘www’, ‘co’, ‘EU’, ‘UK’, ‘international’ and many more are disregarded, if it is preceded by full stop, blank space or ‘@’
- Allowed maximum length is 60 characters
- For sensitive words (e.g. ‘British’, ‘European’ or ‘Charity’) you need to take permission
You can take help from company registration agency for smooth company formation and registration process.
Will company details be made available to public?
Company House collects details of every limited company in UK. Public can obtain information like
- Names and addresses of directors, shareholders and company secretary
- Governing document called ‘Articles of Association’
- Summary of annual returns
- Annual financial statements
Inform the Company House about any changes in names, addresses, ownership of shares and Article of Association. If ignored, it can lead to a criminal offence, therefore keep these details updated and comply with the law.
Does the company director need to give their residential address?
Directors have to give their current residential address, but they can keep it confidential from the public. They can submit service address for the public record. It will only be made available to licensed credit agencies and law enforcement.
What is the maximum number of shares to be issued?
If you are the sole proprietor of the company, then just a single share needs to be issued with your name. On the other hand, if you desire to distribute company shares among investors and family members, then generally 100 shares gives necessary flexibility. In case, you are allocating shares on the basis of financial investment then the issued shares must represent each investor’s financial investment.
In the event of business failure, the shareholder is responsible for outstanding amount on shares registered under his name. Therefore, never allot unpaid shares to any corporation unless you are certain that the shares will get fully paid. You can take advice from professional company registration agent about share structuring.
What other aspects to consider, if I live outside the UK?
Company seal, Apostilled documents, Accountancy, Company Secretary, and Trademark registration.