Opening a limited venture can be somewhat tricky. There are so many small steps to deal with. A slight misjudgement on each of these steps can lead to downfall. Therefore, it’s necessary to stay alert on the process.
First of all, you need to learn about the requirements for setting up a limited company. Yes, that’s the most crucial part of the process. The bare minimum requirements are listed below:
- A company name
- An official address to register the company to (called the registered office address)
- Minimum 1 director
- Minimum 1 shareholder
- Selecting a minimum of 1 SIC code that describes the trading activities of the company
- Details of the people involved like maiden name of the mother, town of birth, eye colour, etc.
- ID proof for address verification
By the way, you also need to submit the Memorandum as well the Articles of Association while setting up the limited company. This is of crucial importance since it will be required to figure out the guidelines when carrying out offshore company formation. If the company setting up procedure is being carried out through a specialised agent, there’s no need to custom generate the memorandum. Model articles with all the standard set of rules will be supplied directly to you.
Registering the company is another big responsibility. Once you register a company, it will provide the company with a legal service address. This address will be used for sending any official letter addressing the company. If the company is subjected to any kind of legal proceedings, this registered address will be the one where the paperwork from the court will be sent.
All you need is proper guidance when forming a company, especially an offshore venture. Look for a legal expert to guide you through the process, ensuring best of results within the proposed time frame.
GWS Offshore 