If you do not add Limited/Ltd or PLC to your company name, we will automatically add "Limited" to your selected name
Who can form a company?
The Companies Act generally allows one or more individuals to form a company for any lawful purpose by subscribing to its memorandum of association. Whereas self-employment registration requires one person to be involved, a public company or an unlimited company must have at least two subscribers.
Types of Companies
Sole trader: A Sole Trader is the simplest way to get started in business. As a sole trader, you can quickly adapt to changes in your business with minimal bureaucratic changes required and you have complete responsibility and control over your business and accounting affairs.
Partnership: This type of business consists of partners sharing with each other the profits or losses that the business may have incurred during an agreed time period. Partners may have a partnership agreement, or declaration of partnership which give them the internally agreed rights.
Limited Company: A Public limited company can be publicly traded on a stock exchange. A public company usually refers to a company that is permitted to offer its stock, bonds, etc, for sale to the general public typically through a stock exchange. There are 3 types of limited companies:
Private company limited by shares
Private company limited by guarantee
Public limited company
Unlimited company: The Public Unlimited Company sets no limits to the member liabilities. Furthermore, an unlimited company is not subject to filing its accounts with the Registrar of Companies. It is a rare type of company formation and is the most suitable for a service company or a professional firm, e.g. in case where a limited liability is not that essential. There are some rules that apply to that kind of a company:
The company should operate in a field where limited liability is frowned upon
Secrecy shall be maintained with regards to the company's financial affairs
The risk of insolvency is not high
The company may or may not have share capital
Charity Company (Non-Profit Company): These companies are not-for-profit but may hold funds and bank accounts. Earnings must be dedicated to the company's "charitable objects". Furthermore, no dividend may be paid to the members. The Non-Profit Company does not have shares or shareholders. It will instead have members (trustees) who have agreed to oversee the running of the company and to subscribe to a nominal guarantee. Each of the trustees (members) has just one vote. Their liability is then limited to the nominal guarantee (usually 10 pounds).
Off-shore Company: Under UK law you can choose whether the company should be registered as Offshore. It is a unique form that gives you distinct advantages. Offshore is a preferred company structure when the goal is to achieve anonymity and privacy protection. Furthermore, it keeps all business details confidential and consolidates all this with limited liability and tax exemption.
You can also find the major advantages and disadvantages of an Offshore company below:
Advantages:
The flexibility of the legislation allows a company that is incorporated in the BVI to operate with the absolute minimum of hassle
Low annual fees
Highly popular
Disadvantages
The lack of public registers can make proof of ownership difficult
Not particularly recommended for high profile trading operations
B&F offers a wide range of services related to starting up a business:
Protection/Reservation of a name This service will do exactly what you need if you would like to protect a Ltd company name, either to use in the future or to sell on. You can register your company name at a yearly rate and B&F Services will hold it on your behalf for the duration of that period. You have the flexibility of being able to register your company in full later on, or simply let your registration expire if you find you have no use for it. If you do decide to upgrade your Name Only service to a full LTD company, we will do it with a discounted formation rate.
Ready-Made Company Selling Ready-made companies are simply standard Limited companies that B&F Services has registered for your benefit and convenience. There are 3 key reasons why you may wish to take a Ready-Made Company:
You would like to take control of a company instantaneously
You prefer one of the names we have registered
You would like a company registered before a certain date
Sole Trader/Partnership Registration
Limited/Unlimited Company Registration
Same day incorporation company with certificate, memorandum and articles, any kind of shareholders scheme
Offshore Company Formation Due to our diverse experience base, B&F Services is able to offer our clients assistance with all aspects of offshore company formation. Under UK law you can choose the company to be registered as Offshore. It is a simple process to form a limited company incorporated in, for example, the British Virgin Islands. As with UK formations, you can form a company just as long as the name is not already in existence. You will then be required to appoint at least one director and one shareholder and a BVI registered office.
Included within the BVI Company Formations package are:
Company Formation
