In the modern world, business is one of the ways of self-realization. Many young entrepreneurs get confused about the sequence of stages on the way to starting their own business projects. There is no doubt that in order to create a business, it is necessary to go through many stages. First of all, it is worth understanding how to get a certificate of incorporation. In this article, we will talk about this stage and many others.
However, one must understand the exact amount of work that depends on the chosen legal status. The steps are more meaningful in the context of starting a company. There are several options for an entrepreneur to start their own business. Moreover, it is possible to solve all the formalities for starting a business right online.
What is the certificate of incorporation?
The document confirms that the company is indeed registered in England and Wales, Scotland, or Northern Ireland. The date of registration, the legal form of the business (limited liability company, partnership, open joint-stock company, etc.), and company registration number (CRN) is also prescribed. The registrar (Cardiff, Edinburgh or Belfast) is also indicated. At the bottom of the document is the official seal of the Companies House, as well as the royal coat of arms.
How to get a certificate of incorporation in a simple way?
If you decide to register a company in the UK, you need to know these simple steps. Beforehand, you will have to collect a package of papers, consisting of:
- passports of shareholders and directors,
- proof of their place of residence,
- a business plan.
It is also necessary to prepare a unique name for the future enterprise, and indicate the main type of activity. All copies of documents must be exclusively in English and certified by a notary. You can read more about the process of registering a British company in the article.
As a result, you will receive the entire set of corporate documentation, which, in addition to the registration certificate, includes the following documents: share certificates, resolutions on the appointment of directors, an agreement between the founders, and a registered charter. The registration company will also provide certified copies of all corporate documents and the company seal.
Features of creating a business on the Internet
Let’s talk about registration in detail. Entrepreneurs have several options for starting their own businesses:
- You can manage everything yourself;
- Delegate the creation of your business to your own accountant or lawyer;
- Entrust this to the online service provider;
- Specializes in starting a business.
In addition, the decision to take care of starting your own business includes dedicating time to it. By entrusting the creation of your business to a certified accountant or lawyer, you will generally benefit from the quality of good service and personal supervision, as well as time savings, as the creation of a business is entrusted to a professional.
As you already know, one of the most important steps is getting a certificate of incorporation. There are many situations in which it may be necessary to present a certificate of registration of a company in the UK. For example, you need to open a corporate bank account, sell shares to new investors or take out a loan from a financial institution. It is therefore so significant that the registration certificate is always at hand. According to the law, the document must be stored in the company’s office at the official legal address together with other corporate documentation.
To open a company, you should prepare information:
- The exact name of the future company is in Latin. It’s better to have a few options. You also need to clarify the form of ownership of LTD, LP, or LLP.
- Specify the main activity (can be in any form). – Name of the founders, confirm the information with copies of the founders’ passports.
- Certificate of residence (e.g. utility bill not older than 3 months).
- From the legal entity/founder/copies of the company’s statutory documents.
These documents must have an official translation and their authenticity must be confirmed by a notary.
Fundamental aspects of the new project
To set up a company, there are a few other steps you need to take: you must publish a notice of incorporation, complete a declaration of incorporation, complete a statement of good conduct for each director, etc. If you are setting up your business with an online service provider, all of these steps are done last. All you need to do is sign the documents with an electronic signature.
In any business, one of the first steps is developing a business idea. Writing a business plan is a strategic step. It summarizes the investment project and profitability goals. Externally, the document will be presented to financial partners (banks, partners/shareholders).
This document is based on your market research. It presents your business strategy, means (technical or human), and the prospects for the company. The financial part should also be sufficiently detailed. It includes a projected income statement (usually for the first 3 years of operation), a seed funding plan, working capital requirements, and profitability calculations.
Head office location
Being busy with paperwork, you do not need to forget about the location of the main office of your company. Today, many online businesses work remotely, which means that there is no constant need to collect employees in the office. However, the company must still have an address.
In this case, services such as Hoxton Mix often come to the rescue. It offers a virtual office service. It means that your company can easily be registered somewhere in the heart of London, which will certainly attract customers and partners, but you will not need to pay huge amounts of money for renting working space!
Moreover, you can book conference rooms and hold business meetings right at the company registered address. Your mail and calls will be forwarded to you in any format convenient for you.
Whether it be nationally or internationally, London is easily accessible thanks to its transport network, whether it be through the metro, rail links, and international airports connecting many of the major cities. Thus, this advantage reflects a practical aspect. For example, it will be easy to arrange meetings with clients and suppliers, thus facilitating various trade. Therefore, this will greatly promote the rapid development of the commercial activity.
