What is a limited liability company?masterA limited liability company is an individual legal entity which is separate from that of its officers. A limited liability company has its own assets and liabilities, profits and losses. The liabilities are limited to the Company. In other words, the officers are protected from financial liability should the company encounter any difficulties. This differs from those of a sole trader or partnership, where the assets and liabilities of the business belong to the individuals. Ownership of a limited liability company is established through the division of shares. Limited liability companies must also submit annual accounts to the Companies House (UK) or the Companies Register (NZ) which are made available to the general public.
Frequently Asked Questions
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- Registering a Company
- Application Process
- Phone and Fax
- Ongoing Obligations
Choosing a name for your companymasterThe name you choose must not already be registered. The name most not be deemed offensive, or be associated with the government or local authority. There are also certain sensitive words which must be avoided.
Can I use LIMITED or LTD in my company name?masterCompanies can be formed using Limited or the abbreviation Ltd in the company name. There is no legal difference. Once your company has been registered you can use either suffix in your company name.
Do I need a company secretary?masterWhen forming a new company you do not need to appoint a company secretary. A company can be registered with just one director.
How do I tell Companies House (UK) or Company Registry (NZ) what my business activities are?masterThe company’s business activities are initially provided when you register a new company. These are called Standard Industry Codes (SIC).
What is a Certificate of Incorporation?masterThis is an official certificate issued by the relevant government registrar on successful incorporation of a limited company. The certificate states the company number, name and date of incorporation. Certificates of Incorporation will be sent via email as PDF Files.
What is the minimum age required to be a company officer?master18 years or older.
How many directors should my company have?masterYour company must have at least one director over the age of 18. There is no maximum limit on the number of directors a company should have. With our system, you can incorporate a company with a maximum of two directors.
How many shares should I have?masterCompanies must have at least one share minimum for a limited liability company, however there is no limit on the number of shares held by a shareholder. From our experience, we recommend 100 shares valued at £1 (UK) or $1 (NZ) each to ensure you can transfer shares in the future (if required) without having to increase or amend existing shareholding structures.
Will my home address be visible on the public register?masterUsually, yes, your home address will be shown on the public register and therefore viewable by anyone. However, we can provide a service to keep your address private. This service is included in a few of our packages at no extra charge.