Coddan is passionate about delivering a quality service to each and every one of our clients, so that we can guide them through the entire formation process. Our skillful advisers can expertly tailor our LTD company formation products and packages to suit your start-up's circumstances.
Same day UK company formation opportunity: if you're interesting with an alternative way of structuring your business, setting-up a limited company (Ltd) could prove advantageous. Although there are often additional costs involved, the process of establishing a private company in the United Kingdom is not as complex as setting-up a limited partnership. If you're considering starting your limited company, don't be afraid to get in touch with Coddan now. Our expert advisers are available between 9.30 am – 6.00 pm Monday to Friday, and can guide you through every step from start to finish. Call +44 (0) 207.935.5171 or +44 (0) 330.808.0089 (national rates) now to find out more about starting business in London, and how our companies formation packages could save you money.
NO HIDDEN CHARGES
In the case you have your own address in the UK and wish to form a limited company online with the Lloyds, RBS or Barclays business bank account, we can do it for you. No paper forms to complete, no hidden offers, all is simple!
Upon a company formation we will send the following documents via an e-mail:
NO HIDDEN COSTS
If you have an address somewhere in the UK & looking for a new limited company formation with the guaranteed bank account plus with the legal required documents which you will receive by an e-mail and by the post, this is your offer!
This package includes all benefits described in the first business start-up option, plus:
NO HIDDEN FEES
The traditional trappings of private company formation online with impressive bound documents is for clients, who have their own address in the Great Britain and wish to start a business in England, Wales, Scotland and Northern Ireland.
This opportunity includes all business set-up benefits described in the two previous offers, plus the free delivery of:
YEARLY FEE £75.00
If you are the British expatriate &/or UK resident, who are interesting of forming a new firm with the prestige legal address in London, this offer is for you!
This private company formation offer includes all company registration benefits described in the second & the first options, with the extras of:
ANNUAL FEES FROM £105.00
Are you non-UK resident, who are looking to register a new company with the secretarial compliance service and legal address in London? This company registration option is for you!.
We added the listed below benefits and items into this British LTD company registration offer:
ANNUAL FEES FROM £455.00
If you wish to register a company with the London registered address and a nominee director service for one year, this option could be ideal for your incorporation needs. The bank account is available upon a request.
We included everything from the first company registration option together with the following extra benefits:
ANNUAL FEES FROM £455.00
This offer includes everything from the previous options, we just added the verification of all documents by an apostille and certification by the notary public or solicitor (depends on your needs).
This British company registration opportunity includes everything in the third business start-up option, with:
NEXT PARTIAL PAYMENT £650.00
With this option, we will setting up a UK trust, provides two trustees, register a private company and prepare the annual return (confirmation statement).
We added the following services into this opportunity:
UK business entities are now required to identify and record the people who own the companies (beneficiaries) or the persons who own control of the organisation. The register is available to the public and is an addition to the directors and shareholder register.
All directors must identify and record the details of the PSC on public register; they must also update the register whenever there is a change of circumstances, the director must keep a record of how the PSC was identified, and in some cases demonstrate how the ашкь has failed to identify a PSC.
Existing companies can record the details of their PSC when filing the confirmation statement (replacing the old annual return), all newly incorporated entities must provide details of the PSC with the incorporation application, and the new organisation will not be registered unless a PSC is provided or a PSC statement is submitted.
The PSCs name, surname, date of birth (month and year of birth only), nationality, country of residents and the service address will appear on the public register, furthermore the date the person become a PSC and the level of control will also be available on the public records.
Failure to provide accurate information on the PSC register and failure to comply with notices requiring someone to provide information are criminal offences, and may result in a fine and or a prison sentence of up to two years.
Nominee directors and nominee shareholders never were the actual owners of the organisations, they always acted on behalf of the real owners ("shadows directors"). Professional firms, who offered the provision of nominees always signed special set of documents in between the nominees and the beneficiary owners to avoid any kind of responsibilities which could happen from the side of the real owner. Nominees will never act as the real owners of organisation, and their names will not be listed as the PSC.
Yes, we need to register you, or the third person, who controls the firm as the person with the significant control. Nominee director is receiving instructions from the real owner, nominee shareholder hold shares on behalf of the beneficiary owner, means, your nominees cannot be appeared as the person with the significant control, because they are not controlling the business at all.
A company can identify a PSC by examining the companies register and other constitution documents such as the articles or internal resolutions.
If the individual has 25% or more voting rights or is involved in the day to day running of the business, then this person qualifies as a PSC and must be listed on the PSC public records, the person will be deemed to have significant control of their business.
Any individual who holds over 25% of the company shares will qualify as a PSC, this can be identified through the register of members/subscribers, or through the latest filed confirmation statement (or the old annual return).
Yes, any person who has the power to add or remove the majority of the board of directors, or exercises actual influence over the organisation will qualify as a PSC, this individual can be the actual beneficiary or someone who regularly sit on the board meetings, or has indirect connection through a parent firm or trust.
No, nominee directors and shareholders are generally appointed for record purposes only, and in most cases have little or no influence over the day to day running of the business. In this case the person who qualifies as a PSC will generally be the beneficiary or/and the person(s) who hold the general power of attorney.
If your firm has five or more shareholders, who are the private individuals, and none of them holds more then 25% of shares, you do not need to identify and register a person with the significant control. If your shareholders are the corporate bodies, you need to be sure, that their ownership does not belong to one or two private individuals. If such corporate shareholders belongs to one or two people, you need to register them as the persons with the significant control.
It depends on the situation, lets say, that you are a director, and its sole shareholder. You might split the organisation ownership with other four additional shareholders, but if they do not have the significant influence or control over a company, you need to be registered as the PSC. The company ownership does not automatically refer to the person with the significant control, the significant influence or control over a firm is the second important part of the legislation.
In some cases, a limited company can list a corporate body as person with significant control (relevant legal entity), this is done to either avoid duplicate entries on Companies House, or the corporate body listed is already regulated to a level which meets the PSC purpose or objective. It means, if the UK registered company "A" passed the PSC requirements and registered information about the person with the significant control, and such entity is the shareholder of another UK organisation "B", the "B" firm can use it as the relevant legal entity.
If the corporate entity concludes that significant control is exercised by another corporate body, then it is entitled to list this corporate body on the PSC register only if:
(a) The corporate body is a UK entity and this entity has already provided an up to date PSC register, in this case there is no need to enter the same PSC details twice, the level of transparency required by the introduction of the PSC register has been satisfied;
(b) The corporate body is a registered charity, listed on the stock exchange or regulated by the FCA, in this case the corporate body is already strictly regulated and would already meet the transparency criteria and can be listed as a PSC.
A foreign entity can only be recorder as the companies PSC if it is a registered charity, listed on the stock exchange or regulated by the FCA. If the entity is not regulated by any of the aforementioned authorities, then it cannot be listed as a PSC as this will not offer enough transparency demanded by the PSC regulations. In this case the person who has significant control or the beneficiaries of the foreign entity would qualify as the PSC for the UK firm.
If your Cyprus corporation acts as the shareholder of your British incorporated entity, you can entry it as the relevant legal entity, if: - it keeps its own person with the significant control registers in Cyprus; or It is subject to Chapter 5 of the FCA's disclosure and transparency; or It has voting shares admitted to trading on a regulated market in the UK or EU, in Switzerland, USA, Japan and Israel.
As far as it is not necessary to keep its own person with the significant control registers in Cyprus, you cannot list your Cypriot firm as the relevant legal entity.
No, the only entity that is currently exempt from the PSC requirements is a limited partnership or LP's as they are commonly known, limited partnerships (created in England, Wales, Scotland and North of Irelaqd) are only required to submit the names of the general and limited partners.
Yes, as described in examples above, the British firm must comply with the PSC disclosure requirements at all times, even if its owned by an offshore holding.
It is not only the direct control over the company that identifies the PSC. There are several criteria explained above under which the test is made and PSC is identified. Being final owner of an offshore holding and having been granted the power of attorney on behalf of the company to present it in any transactions, you automatically qualify as a person of control.
Yes, each corporation must submit information about person of control regardless of the ownership, except cases described above where RLE rule applies.
No, an offshore trust cannot be considered as a person of control, as only a private individual can be listed in the PSC section. Moreover, not being a registered legal entity, trust does not qualify for the position of a RLE.
Information about person of control is still required even if corporation is owned by a trust.
Unless there is anyone else who is influencing the decision making in the firm and due to the way trust is managed, the trustee of the trust are listed as a person of control as those who exercise the control and management of the trust and the entity, which is managed by this trust.
Yes, sure. If you still have questions about the person with significant control, or the relevant legal entity, feel free to contact us.
There are no offshore companies in the UK. All local companies are considered as the tax resident organisations in the UK, and are required to declare their profits, submit their accounts and tax return and pay the tax in the Great Britain from its worldwide income.
The UK is not an offshore heaven. Scotland is the part of the Great Britain and local Scottish companies are subject to the same tax regime as entities registered in other parts of the United Kingdom.
Companies Act 2006 applies to all firms registered all over the United Kingdom. There is no difference between corporations registered in England, Wales, Scotland or in Northern Ireland except for the location of the registered office address.
Unlimited companies are not required to file annual accounts with Companies House, which means that the affairs of the business are kept away from public records and shareholder's dividends aren't made public.
There is no requirement for a British LTD to pay its capital at the time of incorporation. Company's capital can be paid at later stage. The capital can be fully or partly paid; this will need to be reflected in the corporation's accounts.
Companies Act (Corporate Law) does not prohibit people on student visa from registering a business here; however, there might be issues with opening a bank account. This might also be in breach of your immigration status, so we suggest you to seek a legal advice.
Local registered firms can seek the banking facilities in any location where it's convenient for their activities.
Local banks tent not to open accounts for entities which are owned and managed by non-British residents. For clients from overseas Coddan can offer banking introduction service with the various banks in across the EU.
Yes, bank introduction service is available upon request. Unfortunately, banks located in the Great Britain do not open accounts for companies with nominee structures, however Coddan works with different banks in the EU which accept companies with nominee directors. Bank introduction service is subject to the approval of the company's activity by the bank and successful completion of due diligence procedures.
Application for VAT registration can takes between 2 to 8 weeks. For entities which do not have physical place of business in the UK and managed from overseas, processing of the VAT application can take up to 4-8 weeks.
HMRC reserves the right to reject VAT application if they are not satisfied application is made for a genuine business; if the director of the organisation had previously defaulted on VAT via other business; if business does not have sufficient turnover, only does exempt suppliers or only except VAT refunds/repayments; if additional information requested by the HMRC on the base of original application is not provided within set amount of time.
Coddan works closely with solicitors, notaries, UK legalisation office (FCO), various consulates and embassies. We can offer standard and expedited legalisation services of various corporate documents. Fees vary depending on the terms of legalisation offered by the consulates. Should you require consulate legalisation service, feel free to contact us for a quote.
By law, companies do not required to use a seal. If the seal is essential for the business, then a special resolution of the board of directors will be required to about the seal and to approve its image. Documents which are certified by the seal will have to bear two signatures: of two directors, of director and a secretary, of director and a witness.
Certificate of good standing is usually not required for newly registered entities but may requested by your bank. Should this document be needed, Coddan will be glad to assist. Document can be issued as certified by the Companies House or can be legalised with apostille stamp as well.
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Private company formation in five easy steps: if you're looking to form a private company limited by shares in the UK, then Coddan Formations Agent can help you through every step of the process and have you up and running in a matter of hours. We're an authorised Companies House business formation agency and after you spend just five minutes filing out the application form, we begin the procedure of forming your firm, which is completed within hours after you submit your application, which means you can start trading right away. Coddan files your application to establish a company electronically; you don't need to sign anything and there's no paperwork to worry about.
All you have to do is run your company name through our checker tool to make sure it's allowed, then choose the package that best suits your needs and decide if you'd like to make use of Coddan's registered office address services, which can include a premium address to give your company added sheen.
Then fill out your details, which should take you less than five minutes, and we'll come back to you with a confirmation of approval and registration from Companies House. It can occasionally take longer, but this will all usually happen within four hours and your documents will be emailed to you.
We provide clients in the UK and around the world with online limited company start-up and we are a Companies House e-filing partner. That means we can handle the whole private company establishment process online, which saves you time. So if you are interesting to start a business - trust the leading company start-up agent.
There is a bundle for everybody.
A limited company formation package to suit you at Coddan. We have four basic limited company formation options for both UK and non-UK based clients, so there is guaranteed to be one that will suit your requirements. For a full breakdown of what each package involves, please consult the following table.
Although this section covers private companies limited by shares, Coddan can also guide you through the process of forming a limited liability partnership, setting-up a limited partnership, registering a trust or a company limited by guarantees.
Do you know if your company's name is available?
Before the company formation, you need to make sure that the name you have given to your company isn't already in use, or isn't too similar to a potential rival's. With the help of Coddan's company name search tool, you can find out sooner rather than later whether your chosen name is available.
Our simple search tool is incredibly easy to use, and does all of the hard work for you. All you have to do is provide two name choices on the application form, and Coddan Formations Agent can check their availability.
You don't need to use your home address.
There are several reasons why many people choose not to use their home address as their registered office address. They may want to keep the details private, or create a more professional image.
Coddan Formations Agent can therefore provide you with a choice of premium registered office addresses for the public record, removing the need to use your home address. Additionally, we can also provide options for directors' service addresses.
Who will be your company director and shareholder?
You know that your company needs at least one director and shareholder, which can be you. You may even wish to act as secretary. However, as stated by the Companies Act 2006, the director's residential address must be disclosed to the Companies Registrar. Many directors use a residential address as a service address.
Whenever a residential address isn't used, Companies House will need to know the alternative service address, which will be made available on public record. With the help of Coddan's legal business address service, you can establish an alternative address as your official business base.
After you have completed the above steps, you will be required to make a credit or debit card payment using our secure form. We also accept postal orders, cheques and bank transfers as well as Western Union and Moneygram payments.
Coddan Ltd will provide you with an invoice as well as the login details for the administration section of Coddan Ltd's website. For more information about our limited company formation packages, call Coddan now.