Frequently asked questions (FAQ)
What is a limited liability company?
A limited liability company is a private company, whose owners are legally liable for its debts only to the sums invested extent.
What is a « Ready-to-use» company?
Recent and 2018-2017 companies are all currently registered companies, so already existing for one to three years. Purchasing a « Ready-to-use» company has many advantages and one of them is that it has never been operated (no debt)
Why should I buy a ready-to-use company?
Our rate for ready-to-use company covers all the required administrative and legal costs of changing name (yours) in 30 minutes + 12 months of free banking service if you wish.
What is a dormant company?
A dormant company is a company that is not currently in business. You can register your company as dormant if you want to use it later, if you restructure your current company or if you need to stop transactions. You may also consider of buying a dormant ready-to-use company.
Creating a limited liability company
What are the advantages of having a limited liability company ?
As an individual seller, all your personal assets can be used to pay off your company’s debts, while as a company; only company’s assets can be used as long as you have not acted in an abusive manner. Registration will also protect your company name.
How long does it take to create a limited liability company?
All our companies are generally created in less than three hours. All directors, secretaries and shareholdings are registered online.
So you don’t have to fill out any paperwork and you’re ready to operate your company in a matter of hours.
Can I change the name of a standard or a ready-to-use company ?
You can change your company name as long as the name you want is not too similar to another registered company name. We can provide this service to you (see the “Other services” page).
What details are necessary to form a limited liability company ?
Full name, the director’s address, including postal code, birth date and nationality will be needed. This information is also required for the company secretary (if applicable) and the company’s registered office address. We can provide you with a company in England (London), Scotland or Ireland. Other countries are on request.
How many people are needed to form a limited liability company?
You need at least one director to form the company. A corporate secretary is optional. We offer a nominated corporate secretary service (go to “Other services” page)
Who can be the director ?
Anyone over 18 years old may be a director
Do you need to complete any documents ?
No. Since all our companies are created electronically, no documents or signature are required on your part. (We usually get your contract information via a simple mail.)
What is a confirmation declaration ?
Previously known as the annual report, a confirmation statement is required each year and involves verifying information about your company. We can take care of your confirmation declaration.
What is a nominated shareholder ?
A designated shareholder acts as a legal third party and is officially registered as a shareholder, in order to prevent beneficial owner from being publicly associated with the company. We can provide you with the nominated shareholder name (go to “Other services” page)
What is the EORI registry ?
The EORI registry provides a list of companies authorized to trade in the EU. This is the economic operators’ registration and identification; it is also a legal requirement for many UK companies. You can find this service in the “Other service” page.
Tax and VAT registration
What about taxes ?
A limited liability company enjoys more favorable tax benefits than those provided by a sole proprietorship or partnership. It is subject to tax but profits are not normally subject to high tax rates. In Scotland, the corporate tax rate is 0% for non-residents who sell service or products outside Scotland.
Do I have to register for VAT ?
You have to register for VAT if your company generates more than £85,000 of turnover. However, VAT registration is not mandatory if your turnover is less than £25,000, but if you wish you can register voluntarily. We can take care of this VAT registration for you (go to “Other services” page).
Is VAT registration included in your services ?
Yes, we can complete you VAT request electronically, which generally allows you to obtain the VAT certificate faster (go to “Other services” page).
What identification is required for a bank account?
The list below lists the required elements:
- Valid full passport ( UK or EEC)
- Bank statement and recent address proof
What other services can you provide ?
We offer many other services, including the nominated company director and secretary, the registered office address and VAT registration, as well as the bank account opening ( go to “Other services” page).
We can also provide your new company with 0800/0870 telephone numbers, answering machines, mail transfer and market services.
How about the head office addresses (domiciliation) ?
We can provide you with our addresses in London, Dublin or Glasgow as your registered office (go to “Other services” page).
As corporate secretary, do you have access to our bank account ?
No, we are your designated corporate secretary and, as such, do not have access to your bank account.
How can I pay for your services ?
Payment by credit card is accepted.