The Basics of Company Formation

Historically most companies were formed by accountants and solicitors. The process had to be completed by hand and generally took about two weeks to complete. Forms had to be completed by the appointed officers, documents needed to be signed by a solicitor, and then Companies House would process the formation and return a certificate of incorporation.

Fortunately the internet has now made the process a lot easier. It is now possible to complete your new incorporation within a few hours rather than several days. This has led to the development of company formation agent websites. You can now form a limited company online without leaving your house.

Using an online registration website is arguably the easiest way to start a new business. It should take approximately 10 minutes to enter your company information. You will need the following information-

Your preferred company name. This will end with the word LIMITED or the abbreviation LTD. It is sensible to conduct a name search to check availability before starting the application.

The registered office address. This should be a genuine UK address in either England, Scotland, Wales, or Northern Ireland if forming a Northern Ireland company. You cannot use a PO Box.
The director details (your company must have at least one person as a Director)
– Full Name
– Residential Address
– Date of Birth
– Nationality

You no longer legally need a secretary. However, if you are appointing a company secretary you will need the following information for the company secretary-
– Full Name
– Residential Address

Share Structure information
– How many shares will the company have – 1, 100, 1000, or any number as preferred
– What will the value of each share be – 1p, £1, £5 or any amount as preferred

The shareholder details (Your company must have at least one shareholder)

If you are prepared with this information submitting the detail is quite easy. Once you have entered the above information your company can be formed in just a few hours. Online formations make the process a lot quicker than paper applications.