The First Thing To Do During Company Formation
Forming your own company is the first important step that you need to do in order to get the combination of financial security and self-employment. But before you will do this, it is important for you know some important things about company formation in order for you to know what to do during the process. Before you plan to register your own company, it is important for you to know some of the important factors about this process. You can read them in this article.
Choose a limited company – if you want to form a small company, then you should register it as a limited company. The financial status of your company will not be affecting your personal assets, shareholders, and directors if you do this. This will allow you and the other people in the company to have so many financial immunity.
Choose a proper name and the type of company – you need to have a name for your company and one way for you to know if the name is not yet registered is by checking it in the registration offices. You will then decide whether the company will be registered as a limited partnership company, charity house, limited company, or non-profit organization once you will have the name for your company. You need to take note of this because it will be forming a part in the name of your company.
Fill out some important documents – You need to fill out some required documents right after you will decide on the name of your company. But first you should pay a registration fee to the authorize department. You will then hire a company formation agent or lawyer, or even do the preparation of the Articles of Association and Memorandum of Association yourself. You also need to fill up some other documents as well. All of these forms will be containing the details about the permanent physical address of the company, the address of the company secretary, the power of the director, and the rights of the shareholders. The registration process will not be completed if you will not be able to file these important documents.
Look for a good formation agent – you will have to hire a good company formation agent if you are not confident in you or your lawyer’s knowledge and capabilities about forming a company. However if you do not have any confidence, the best thing for you to do in order to form your company with respect to all the legal formalities is to look for a good company formation agent. You should look for a good company formation agent that has a good reputation and experience. You can also ask for referrals and recommendations from the people you know that have been running their own business.