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Corporate Law
Limited Liability Companies
A limited company may be formed by a single person who will serve as both the firm's only shareholder and director, or by a number of shareholders with multiple directors.
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Creating a limited business has several benefits, including:
Liabilities are restricted to the corporation and include debts and legal actions.
With the exception of a few extremely unusual situations, you are shielded from going bankrupt personally in the event that the firm collapses.
It is simpler to sell the company afterwards or to sell stock in the company to raise money because it is a separate legal entity.
It is liable for its own conduct, and it has the right to sue and be sued.
It can enter into contracts in its own name and hire employees.
Possesses the legal right to all proceeds from sales and is permitted to keep these funds.
How to set up a Limited Company?
A limited company can be created quickly. There are four initial pieces of information that will be needed while setting up your limited company:
Unique Company Name
Registered Office Address
Shareholder Details
Directors Details
While making your incorporation you will need to
Decide on a unique company name
Collect the data required to launch a corporation including your shareholder(s) details and director(s) details.
Get the director’s written consent.
Draft the company's articles of association and memorandum.
Send the incorporation application to Companies House
Wait for approval, at which point you'll also get the business's certificate of incorporation.
Hold the first board meeting for the business, and record the minutes.
Create the statutory registers that the company needs.
Give shareholders share certificates.
After the company is established, there will be a variety of factors to take into account, beginning with the financial and insurance arrangements.