Company formation is the process of incorporating a new company. It can also be referred to as company registration. The process involves careful planning that is responsible for creating a sound business foundation. Formation of a personal company makes the owner be free from working under somebody else and there is a feeling of financial stability. You must have enough knowledge about company formation before you start the process. Registering a company can be challenging if you fail to put some factors into consideration. Its recommended registering the company as a limited company.
The financial status of a limited company is not faced with financial challenges. Your assents, your shareholders and your directors will have a sense of financial security. You must name your company for you to register it. The title of your company should be unique and should not be similar to any other company’s name. The restoration office can help you find out whether there is another company that shares the same name with yours. Choose a title that will attract customers such that people would want to know what you deal with. Register your company as a non-profitable organisation if it is not a commercial company.
If you offer charity services register it under the charity list. Registration fee is a crucial factor you need to put into consideration which is taken to the authorities to approve your company formation. There are documents you need to fill during the process. Your lawyer or your company formation agent should then help you prepare all the articles of association.
There are other special documents that will elaborate more about your company. The special information includes, the rights of your shareholders, permanent physical address of the company and your secretaries address plus the powers of your directors. You cannot complete the registration if you do not have not filled the documents.
Your lawyer might not have all the abilities and knowledge to handle the registration process, then you should hire company formation agent. Company formation agents have the necessary knowledge do push your registration through. Your agent must be in the field of company formation for you to achieve good results. Look for an agent that has a good reputation so that when they help you with registration you can be at ease with their work.
Ask your friends with similar businesses or other business about the best agent to work with. Some agents will make your work simple as they will ask you to register online. They will allow you complete the registration process without visiting their offices. They are very resourceful since they can help you to even come up with a business name. Through the internet they will get a suitable name for your new company.