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Private company registration procedure in Scotland: at Coddan Formations Agency, our advisors are experienced and highly knowledgeable in the process of registering private company in Alba. While the laws governing Scottish companies are the same as they are in England, Wales and limited companies in Northern Ireland, the Scottish legal system operates independently. In order to ascertain the best course of action for your new limited company, it is essential that the private limited company definition is fully understood, as there are alternatives available.
What is a private limited company? A private limited company gives members - or shareholders - a degree of legal protection from personal liability. Instead of debts and liabilities being the responsibility of individuals, they are the responsibility of the limited company as a whole. In return for these protections, however, there are some restrictions placed on company ownership. Among those restrictions are a requirement that any shareholders wishing to sell their shares must first offer them to fellow shareholders. Shares cannot be sold on the stock market, and the number of company directors is usually limited to a maximum of 50.
Registering a new private limited company in Scotland: the process of a limited company registration in Alba is exactly the same as it is in England. The application must be made to Companies House, and it must be compliant with the regulations set out in the Companies Act 2006. We are official partners of Companies House, so our business start-up agents can have your new private company successfully registered within only a few hours.
Although the laws surrounding Scottish private limited companies are the same as they are throughout the UK, private companies incorporated in Scotland must have their main address there, and they cannot move it to England, Wales or Northern Ireland. Scottish company will also be issued with a unique business number, which is completely separate from those used in the rest of the United Kingdom.
Registering a new company in Scotland requires the submission of several documents, including a memorandum of association and articles of association. At Coddan Formations Agency, we can ensure that all the necessary paperwork is completed accurately, so your business gets off to the best possible start. As well as getting you up and running, we can supply you with a certificate of incorporation, share certificates for individual members, the first meeting minutes, help with registering for VAT and the opening of a business bank account.