Formation of a company limited by guarantee in Scotland: organisations which operate on a non-profit basis are typically registered as limited companies by guarantee. The Scottish non-profit business registration method provides them with numerous benefits and differs from a standard private company structure in that there are no shareholders.
NO HIDDEN CHARGES
This Scottish non-profit entity registration with Barclays, RBS, Lloyds business bank account is for customers, who have an address in Scotland, & want to keep it simple, and paper free.
The following documents will be sending via e-mail upon the formation of a non-profit firm in Scotland:
NO HIDDEN COSTS
This company limited by guarantee start-up in Scotland with bank account is for people who already have a business address in Alba & require the basic non-profit company incorporation plus additional documentation provided by e-mail & send by post.
This company limited by guarantee registration offer includes everything mentioned in the first option, plus:
NO HIDDEN FEES
This package is for customers who want all the customary trappings of formal non-profit organisation registration with great bound documents.
This offer includes all non-profit company creation benefits cited in the previous options, plus free delivery of:
ANNUAL FEES FROM £125.00
This Scottish company limited by guarantee establishment package is especially for expatriates & UK residents, who are requiring registering a company with a registered office address in Edinburgh or in Glasgow.
This non-profit company creation offer includes all company incorporation benefits mentioned in the first & the second options, with the addition of:
Typically used by charities and sporting organisations, registering a company limited by guarantee in Scotland has numerous benefits. Unlike private companies, companies limited by guarantee do not distribute profits and do not have shareholders. Instead they effectively owned by their members, who act as guarantors in the event of the company being liquidated. These members benefit from limited liability, meaning the amount of money they guarantee is nominal – sometimes as low as £1. Scottish companies limited by guarantee are also legal entities in their own right and are able to employ staff, enter contracts and own assets such as property. Call us today and get your Scottish non-profit company under way. If you need an assistance with a guarantee company formation in Scotland, you can also speak to our advisors between 9.30am-6.00pm Monday to Friday by telephoning + (0) 207.935.5171 or + (0) 330.808.0089 (national rates).
The Scottish non-profit organisation still has a legal personality, but its liabilities are guaranteed by its members who contribute a pre-agreed sum in the event of the company limited by guarantee having to be wound up. Companies limited by guarantee in Scotland are perfect for organisations which need corporate status without becoming a PLC company. They are able to apply for charitable status if needed and can generate profits, although the money made cannot be distributed to members and should be put back into the company to promote its objects.
If you are looking to establish a limited company by guarantee in Scotland, Coddan can help. We have a large and experienced of Scottish companies limited by guarantee start-up team, who can talk you through every aspect of opening of a new company limited by guarantee. Coddan operates a dedicated phone line for company limited by guarantee incorporation inquires and has a range of services and packages available to suit every need.
In Scotland, companies limited by guarantee are registered by organisations that won't be profiting from them, such as established charities, clubs or societies. The profits from the Scottish non-for-profit enterprise are not given out to its members and are instead used for other purposes. One of the main reasons it's used is because the structure protects those who are running the venture from being held responsible for any debts that may occur. This type of a company does not have shareholders; instead, it has guarantors, or members.
In order to establish a non-profit organisation in Scotland, you need at least one person to nominate as a company officer, such person can be appointed as a non-profit company' director and its member. But if the non-profit firm is going to be used for charitable purposes, the legal requirement is three people. It's possible, however, that a director can also be the secretary as well as a member. In order to obtain charitable status, an application must be made to the Charity Commission. We can assist with this to ensure the process is handled in a swift and professional manner.
None of the non-profit entity officers need to be resident in Scotland, or to be British citizens. They can be from anywhere in the UK or world. However, for the purposes of registering the company limited by guarantee, a registered office address in Scotland must be supplied, and all official company documentation must be kept there.
This doesn't mean the company has to operate from the office address provided because a company limited by guarantee can be run from anywhere. At Coddan, as part of our guarantee company registration offers, we can supply an official legal office address in Edinburgh and Glasgow. All correspondence from the authorities, such as Companies House and HMRC, that is sent to it is forwarded on to our clients by us.
As with all firms in the UK, companies limited by guarantee are obliged to file annual reports and annual accounts before the deadline every year, or be subject to possible penalties and fines. Where guarantee companies are operating as a charity, the files will also need to be submitted to the Charity Commission. Coddan's post-formation service includes preparing and filing these.
Starting up a Scottish company limited by guarantee is different from establishment of a charitable company. To create a Scottish charitable company you need to have three members, one company director, specific memorandum and articles of association and the permission from the Charity Commission. If you want to register a charity business in Scotland, please contact us for the further advice and consultation.
To incorporate a non-profit corporation in Scotland with us, you do not need to complete any kind of paper forms, or prepare you own memorandum and articles of association for a company limited by guarantee. All you need to do to establish a non-profit company with us is to complete our online application form and provide your company objects, which we will include into our tailor-made memorandum and articles of association.