Setting up a Business in the U.K.

Overview by Globlatrade.net:

Legal Forms of Companies

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Private Limited Company (Ltd)
 
 
No minimum. In practice, the minimum subscribed is GBP 100. Totality of the capital must be released.
Minimum 2 partners, except for single-member Private limited Company. Maximum 50 partners.
 
 
Liability is limited to the amount contributed.
Notary fees: GBP 140; Registration to the Companies House: GBP 30.
Public Limited Company (Plc)
 
 
Minimum GBP 50,000 totally subscribed, obligation to release 25% at the constitution.
Minimum 2.
 
 
Liability is limited to the amount contributed.
Notary fees: GBP 140; Registration to the Companies House: GBP 30.
Partnership
 
 
No minimum capital.
No minimum.
 
 
Partners' liability is joint and indefinite
Notary fees: GBP 140; Registration to the Companies House: GBP 30.
Limited Partnership
 
 
No minimum capital.
No minimum.
 
 
Liability is limited.
Notary fees: GBP 140; Registration to the Companies House: GBP 30.
Unlimited Company
 
 
No minimum capital.
No minimum.
 
 
Partners' liability is joint and several
Notary fees: GBP 140; Registration to the Companies House: GBP 30.
 
 

Business Setup Procedures

Administrative Formalities
Status consist of a "Memorandum of Association" and "Articles of Association". Status and capital must be registered with the "Companies Registration Office" where the company is located, which approves the company's registered name and delivers a certificate of compliance. The Companies Registration Office delivers a registration number and a certificate of registration. Once these documents are provided, the company is legally constituted and can start its activity. These procedures take about 6 weeks. As for branches, procedures are shorter since they are limited to an activity declaration with the Register of companies, within one month after the activity starts.
The Competent Organization
Companies House
Time Necessary for Registration
13 days.
 

Recovery Procedures

Bankruptcy Laws
The idea governing UK bankruptcy law is to give "honest" debtors a clean start by relieving them of the majority of their debts and enabling them to repay their creditors via the sale of any existing assets. More information on Clear start.

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