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Formalities for Company Formation

The United Kingdom, one of the most politically stable regions in the world, is a hub of company formations. Company formation in this region has become quite easy.

From small enterprises to big business tycoons, every entrepreneur aims at registering their presence in this region. According to the Registrar of Companies, 28,222 company formations took place in the UK in August 2009. Companies can be formed by contacting the Companies House, either in person or via the Internet.

Company Formation: Requisite Paperwork

Till October 1, 2009, company formation has been taking place under Section 10 of the Companies Act 1985. Since then, Section 8 of the Companies Act 2006 has come into force. To register your company, the following documents, along with the registration fee, must be sent to the Registrar of Companies:

Memorandum of Association – This must contain:

1. The name of the company

2. Official address

3. Company’s objectives

The aim of setting up a company need not be mentioned elaborately. The objective may be as simple as to continue business as a general commercial company. The memorandum sent to the Registrar must be signed by each subscriber in the presence of a witness who must attest the signatures.

Articles of Association – This document lays down the rules for managing the company’s internal affairs. This document, too, must be signed by the subscribers in the presence of a witness who has to attest the signatures before these are delivered to the Registrar.

Form 10 – This form mentions the:

1. Details of the first directors – This would include the director/s names, addresses, DOB, occupation and information about other job profiles they have held in the last five years.

2. Information about the secretary

3. Intended (registered) official address

Each appointed officer and their agents or subscribers must sign and mention the date/s in the form.

Form 12 – This form is a statutory declaration of compliance with the legal requisites related to company incorporation. This has to be signed by the solicitor who aids the company formation. Alternatively, this document can be signed by one of the directors or the company secretary whose name has been mentioned in Form 10. This form has to be signed before any of the four:

1. A commissioner for oaths

2. A notary public

3. A justice of the peace

4. A solicitor

You can consider hiring company registration agents to perform these formalities on your behalf. One of the largest and well-known UK company registration agents with the reputation of being the best is www.companyformations247.co.uk. Contact the agent today to enjoy a host of benefits!

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