It is important that you form a company, only after tour have researched its benefits and consider if they benefit you. You also have an alternative form of business and the partnership is one of them having a different legal requirement. As the business can change any tie, it is essential that you consider making it a separate working formation. The owners of a company have a legal identity from the business and this is one of the advantages of forming it; in case of loses, they will be not held liable for the compensations.
To form a company, you need to have some of the essential elements. For that reason, it is important that you have the following considerations, to make a company. A the company cannot be in existence without a name. A company must also have a share and a shareholder, at least one each. The company that you form should also have a director, an address and a registered office.
You will need to make sure you select a suitable name for your company. There is a website provided that you will be able to search if your preferred company name has been used before. Here in this website, you will be able to search for the details of the company, including the shareholders, directors, and even the addresses. When you choose a company’s name, you will make sure that it is not similar to that of the other companies that already existed. You will then proceed with the registration process, when you realize that the name of the company is unique. When your name application is denied, you will be asked to choose another name to proceed with.
You will then need to apply for the registration of the company. One or two people who are authorized b the company will then proceed with the registration of the company, that is if the name has been reserved. Therefore, when applying for the registration form, you should as well bring along the following documents. You will need to take along a written consent as well as the certificate that shows that the directors agree to be the managing the company, and they are not, in any case, acting. Along with these, you will ensure that you have the consent form shareholders as well. Also, you will need to have a notice from the companies’ office, showing that the name is reserved. Lastly, you will need a copy of the constitution that governs the company.