TYPES OF COMPANY

The following gives a brief guide to the various types of companies that can be incorporated in the UK and their various principal characteristics. More detailed information can be found under each separate heading within this section and in the customer support section. Use this list and the links provided to help decide which company formation you need.

The types of company we can incorporate for customers include:

Private Company Limited By Shares

  • Private Limited Company
  • Normal commercial trading purposes
  • Objects unrestricted
  • Suits the majority of requirements in the UK
  • Can undertake any nature of business
  • Can operate anywhere in the world
  • Members have limited liability
  • Can have a sole director and sole shareholder
  • Can have corporate officers
  • Limited companies are often advantageous for their shareholders regarding taxation
  • Incorporated within hours
  • Own choice of name
  • click here for more information

Ready Made Private Limited Company

  • As above but registration number available immediately upon receipt of payment
  • Takes longer to complete registration of new directors and transfer shares to new owners
  • More expensive
  • Restricted choice of name
  • click here for more information

Private Company Limited by Guarantee

  • Non-profit corporate entity – assets or financial surplus cannot be distributed to members
  • A Guarantee company is not owned by its members and cannot be transferred by its members for value – it has no share capital
  • Suitable for clubs, membership organisations, sports associations etc
  • Can apply for charitable status
  • Members have limited liability
  • Can be incorporated in most circumstances within hours
  • Some input required from client to establish main objects if required or objects can be unrestricted
  • click here for more information

Public Limited Company

  • Necessary if the company is to trade its shares to the public
  • Can undertake any nature of business
  • Can operate anywhere in the world
  • Members have limited liability
  • Can be incorporated in most circumstances within hours
  • Own choice of name
  • High initial capital commitment
  • Must have at least two directors and one shareholder
  • A private company can be converted to a PLC, so most PLCs start life as normal private companies and convert at a later date prior to flotation of the stock markets
  • click here for more information

Limited Liability Partnership

  • Suitable for new and existing partnerships wishing to obtain limited liability status, and aimed particularly at professional partnerships such as accountancy and solicitors firms
  • Maintains tax status of a partnership
  • Members have limited liability
  • Can be incorporated in most circumstances within hours
  • Suitable for most commercial business activities
  • click here for more information

Flat Management Company

  • May be either a company limited by shares or a company limited by guarantee
  • Beneficial for property developers planning to sell flats or apartments in a development once completed
  • Can be used to spread the freehold of a number of flats across the individual owners allowing easy transfer and sale of each flat
  • Can be used purely as a vehicle to manage the maintenance of a property comprising of several flats or apartments
  • click here for more information

Right to Manage Company

  • A form of company limited by guarantee
  • Allows leaseholders to purchase freehold properties or acquire the rights to manage a property under the Commonhold and Leasehold Reform Act 2002
  • Applies where a building is sub-divided into two or more flats or tenancies
  • Uses prescribed Articles of Association
  • click here for more information

Community Interest Company

  • Can be either limited by shares, limited by guarantee or a public company
  • Intended for use by social enterprises who wish to utilise their profits and assets for public benefit
  • Requires approval from the CIC Regulator before incorporation
  • Cannot have charitable status
  • click here for more information

 

Company Registrations Online Limited is a company registered in England and Wales with company number 3838753, VAT registration number 732 4047 59

Telephone: +44 161 440 8884     Fax: +44 161 439 4484     Email: info@companyregistrations.com