In the UK, you only require one person to form a limited company. Whilst the application requests details of at least one member and one director, it is commonplace for the same individual to hold both of these positions. This means that you can set up a limited company on your own.
This is very beneficial for small business owners who want to run a company by themselves, whether indefinitely or just while the business is getting off the ground. The flexibility of a limited company structure means that you have the option of bringing in additional directors and/or members at any time after company formation.
Who can set up a limited company?
Almost anyone can set up a limited company in the UK, as long as they are:
- at least 16 years old
- not an undischarged bankrupt
- not a disqualified director
Furthermore, there is no need to reside in the UK to set up a company here.
Company formation requirements
In addition to having at least one director and member (shareholder or guarantor), Companies House requires that all limited companies provide a registered office address. This will be the official address of your new company. It must be situated in the same UK jurisdiction where your company is incorporated – i.e., England & Wales, Wales only, Scotland, or Northern Ireland.
You will receive all statutory mail from Companies House and HMRC at your registered office. These address details will be placed on public record and you must make your statutory company records available for public inspection at this location.
The easiest way to register a company limited by shares or guarantee is to complete an online application through an authorised company formation agent like Rapid Formations. The following details will be required:
- Company name
- Registered office address
- SAIL Address (if applicable)
- Nature of business activities to be conducted (you will indicate this by selecting up to four SIC codes).
- Details of all directors, including a service address
- Details of all members, including a service address
- Details of issued shares (if applicable)
- Information on the company’s People with Significant Control (PSCs)
Your application will be reviewed by one of our specialist agents and submitted to Companies House via secure Software Filing. In most cases, applications are approved within just 3 working hours. You will be able to start trading immediately thereafter.
Our company formation services
Rapid Formations provides a selection of online company formation packages for companies limed by shares, as well as tailor-made packages for companies limited by guarantee and non-UK residents.
If you are ready to register a company, all you have to do is spend around 5 minutes completing the online application form, pay for your package and any additional services, and then amuse yourself for a few hours whilst you await the arrival of your confirmation email and incorporation documents.