Benefits of Electronic Incorporation

In 2001, Companies House introduced electronic filing for company incorporation documents - the next step in a continuing programme to move towards a fully electronic based information system. Company Registrations Online Limited were one of the first few company formation agents authorised to use the system, and since late 2001 we have used the system continuously.

This process utilises a state-of the-art electronic information delivery software system that can only be accessed by officially approved software. However, not only must the software used be properly authorised, but so must the presenter and user of the system.

We now use this system for virtually all incorporations, and only Limited Liability Partnerships have to be still submitted on paper as Companies House have not yet electronically enabled these forms. We have developed our own software for this purpose which is completely written and maintained in-house. Together with our own bespoke internal operating system, the process makes us one of the most efficient businesses in our industry.

So what does this mean for you, the client?

There are a number of key benefits:

• We incorporate nearly all of our companies within 24 hours. In fact, if you place an order before lunchtime, it will most likely be incorporated before close of business the same day.
• Electronic submission of information means that we can incorporate a company with the required director, secretary, registered office and shareholders. Instead of a signature on a paper form, an electronic signature is created by a PIN code created from the individual’s personal details. This means that no forms need to be signed and prevents any further delays.
• With directors appointed and all their details lodged at Companies House at the moment of incorporation, there are no delays in opening a bank account. This was previously a common problem, as the bank would otherwise delay opening a new account until Companies House could verify the directors - an event often delayed by the postal submission of forms.
• Subscriber shares are held by the appropriate shareholder, thus eliminating the need to raise stock transfer forms. Consequently there is no potential future confusion over the status of subscriber shares.

most importantly

• these benefits come at no extra cost to you