In the United Kingdom, the procedure followed for the incorporation of a company is known as company formation. This process is also termed as company registration. In most of the major nations around the world a company must be distinct from its entrepreneurs or owners.
Company formation online has gained immense popularity in UK. Most of the compares are created in a single day using the online procedure. The online incorporation procedures are performed by owners, accountants, professional agents, lawyers etc. Using traditional paper filing methods take about a month before the company comes in to existence. The various steps involved in the Company Formation Online are listed below:
- Paper Process- The various documents required for the successful completion of the paper process is listed under the section 9 of the Companies Act 2006. The complete information is available in the Companies House guide.
- Form IN01- This form contains important information like subscribers, share capital, statement of compliance, consenting secretary, director etc.
- Memorandum of association- Memorandum of association which is also known as the constitution of the company contains the vision of the company completely.
- Articles of association- The articles of association formulates the rules for the internal functioning of the business organization. It is mandatory to sign the articles of association for all the subscribers in front of a witness.
- Electronic process- This process can be completed by hiring the services of specialized agents. An account with Companies House and compatible software are required for fulfilling this process.
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