To establish a private company in the UK, you must meet a variety of legal requirements. These cover everything from the name you choose for the company to who can be directors of that company. An agent, such as Coddan, will help you ensure you meet all the legal requirements before you go through the process of filing your application.
Company name: when you choose to open a business, you must give it a name. This cannot be a name used by any other company. Part of the business creation process is checking that your name is available.
You will also need to get special permission if you want to use certain words or expressions as part of your company's name. These include things that could give the impression of pre-eminence or status, indicate an association with the government, or cause an offence. If your name does include any words or expressions from a specific list, you will need to explain why it contains it and apply for permission to use it.
Company directors: your limited company must name at least one director. This person can be of any nationality, but must be over 16 years of age. If your company has more than one director, the additional directors can be either private individuals or corporate bodies. There is no limit to how many directors a company can have.
As part of the application process for incorporation, you will need to provide details of all directors. If your company has a secretary, their details will also be included. It is no longer a legal requirement that a company have a secretary as part of the start-up process, however.
Company shares: a private limited company will also need to have shares. These do not need to be made public, such as on the stock market, but they do need to be split up amongst the stakeholders in the company. If you have not worked this out, your incorporation agent can help you with the process. There must be at least a single share.