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:
- Online through an authorised company formation agent.
- File an application at Companies House directly.
- 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:
- Ensure a limited company is right for you.
- Choose a unique company name.
- Make sure the name you want to use is available.
- 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.