Registration and Maintenance of a Private Limited Company
15 September 2023
Registering a company is a straightforward process, with the option for fast online submission of information and subsequent monitoring and management of the company through a personal account without the need for direct communication with the registering authority.
We will now explain what information needs to be verified and prepared before deciding to register an LTD company in England.
The name of an English Private Limited Company ends with the prefix 'Limited' or 'Ltd.'
The LTD company name must be unique and not contain prohibited words (we can provide a list of prohibited words upon request).The name must also not be associated with the government or local authorities.
SIC (Standard Industrial Classification) Codes
When registering the company, it is necessary to determine one or several types of company activities and select the corresponding codes on the Companies House website.
Subsequent changes in the company's activities and updates to the codes are also available online. This information should be updated annually when submitting the Confirmation Statement.
According to the Companies Act 2006, an English company must have at least one director. If a company appoints multiple directors, at least one of them must be an individual. A director can be appointed from any country's residents.
Private companies in England are not required to appoint a secretary.
An English private company must have at least one shareholder. Shareholders can be individuals or legal entities, residents or non-residents.
In late 2016, Companies House and the Department for Business, Energy & Industrial Strategy published official guidance explaining the procedures for maintaining Registers of People with Significant Control (PSC Registers) by companies.
An individual with significant control includes a person who owns more than 25% of the company's shares, an individual with more than 25% of voting rights in the company, an individual with the right to appoint or remove the majority of the company's board of directors, and an individual who has or effectively exercises significant influence or control over the company.
The PSC Register contains the owner's personal information: full name, date of birth, nationality, address and appointment date. This data is available for viewing on the Companies House website.
The minimum amount of share capital is one share.
Every company in England is required to have a registered address where records of director and shareholder meetings are kept, and this address is used by government authorities for sending letters and notifications.
KRUSMAN is ready to act as the administrator for your company, register the company using our address, and assist in its maintenance.
Before the registration process begins, your administrator needs to conduct a Know Your Customer (KYC) procedure. For verification, we will request the following information:
· A copy of the passport for each participant.
· A copy of a recent proof of address for each participant.
· Background information or CV.
· A description of the company's activities and approximate expected turnovers.
After successful verification, we proceed with the process. The sequence of actions is as follows:
· Choose the company name
· Outline the company's structure: directors, shareholders, attorneys, and beneficial owners, and provide us with the necessary data
· Set the amount of share capital and distribution of shares
· Specify the company's activities and operating geography
· Make your payment for registration services
· Sign and submit the documents required during the company registration process
· Receive the corporate pack of your company’s documents
The registration process usually takes around 3 working days, depending on the document package you require. For successful international market operations, we can provide a complete set of documents with notarization and an apostille upon your request.
· Administrator services include: timely updates for the company, filing necessary reports, monitoring deadlines for report preparation and submission
· Payment of government fees
· Implementing any necessary changes to the company's structure and articles of association
· Preparing minutes, additional documents, and ordering extracts from the trade register as per your request
· Notarization, legalization of company documents, and preparing a special document package as needed
· Handling correspondence addressed to the company
· Legal assistance in drafting contracts and agreements.
· Tax Advisor’s assistance in proper business structuring and management.
· Bank account opening assistance
Please get in touch with us for a price-list for core services that we provide.