The legal requirements to establish a private trust company: the provisions for private trust company establishment are contained in the Trustee Act 1925, and among the basic legal requirements are that a non-profit company must have at least one existing place of business in the United Kingdom and have share capital.
Of that issued shared capital amount will have to have been paid up in cash and cannot be allocated for other reasons, such as for securing lines of credit from financial institutions. Personnel will need to be proposed for the positions of directors of the new company, but not necessarily a company secretary, although it is often advisable to do so because they can look after the trust corporation's ongoing legal obligations to ensure compliance.
To apply for private trust company establishment in the Great Britain, there's also a requirement that there be a registered office address in the country. As part of Coddan Formations Agency's company establishment services, we can provide such an address at a key location in a major city, if one is needed. The trust company won't be operating from the office address, as it will be primarily used for correspondence with the authorities.
There are also a number of regulatory requirements for private trust company establishment, including having to register it with more bodies than just Companies House and HM Revenue & Customs, which makes the entire process slightly more complicated. Coddan Formations Agency can handle all these details for you, so you don't have to go to any extra efforts.