How a Limited Company Is Formed?

How is a Ltd company formed?

A limited company is formed by filing an application at Companies House and satisfying the requirements of company formation set out in the Companies Act 2006.

  • Company Formation Process
    • Compare prices and select a company formation package.
    • Ways to Apply:
      1. Online through an authorised company formation agent.
      2. File an application at Companies House directly.
      3. Use Companies House online services.

Understanding Ltd. (Limited)

Ltd. is a standard abbreviation for "limited," a form of corporate structure, available in countries including the U.K., Ireland, and Canada. Limited companies limit the liability of a corporate loss to the business and do not impact the private assets of owners or investors.

  • Key Features of Ltd
    • Shares may not be offered to the general public.
    • Shareholders usually consist of a close group of friends and relatives.
    • Shareholders cannot transfer their shares without the consent of other investors.

Steps for a Limited Company

A limited company can be set up by one person who will be the sole shareholder of the company or by several shareholders. Setting up a limited company means creating a separate legal entity from yourself.

  • Step-by-Step Guide:
    1. Ensure a limited company is right for you.
    2. Choose a unique company name.
    3. Make sure the name you want to use is available.
    4. Understand tax implications, reporting requirements, and management structures.

Necessary Requirements for Establishing a Limited Company

A limited company can be established with a minimum capital requirement. Shareholders must place their capital in the form specified by regulations.

  • Required Items for Establishment:
    • Two residence certificates for each partner.
    • A copy of the identity card of each partner.
    • Three passport size photographs of each partner.
    • The title must be in Turkish and include the business activity.

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