In order to form a company you need director/shareholder details and company details
Company details are fairly easy. The company needs a registered office address - this is an official address for receiving post. This is often a directors home address but could be the actual trading address of the company if has one. It can also be a mail forwarding/virtual office service, but cannot be a PO Box address
The company will also need at least one SIC or Standard Industrial Classification code. This gives a vague idea of what industry the company will be in. There are also codes for "Dormant Company" and "Non Trading Company" if its just for name protection
A company needs at least one director and at least one shareholder. There needs to be a human director listed - it cannot just be another company acting as a director
You will need the persons full name, residential address, date of birth, nationality and occupation. Because there are no physical signatures involved, Companies House ask 3 personal questions and use this as a signature effectively
These questions are:
First three letters of mothers maiden name
First three letters of fathers first name
Last three digits of passport number
Last three characters of National Insurance number
First three letters of eye colour
First three letters of town of birth
Last three numbers of telephone number
You can basically pick 3 questions to act as your "signature"
There is no longer any requirement to have a separate "company secretary" - It used to be that you needed 2 people in your company but a company secretary is not required.
You also need to have an understanding of PSC - or People with Significant Control. Under normal circumstances, if you have a company with a single shareholder, they are the only person with control over the company, but if they have signed an agreement with another person/company in as much as this other entity has some control over the company, even if they are not an actual shareholder, then they would need to on the "PSC register".
Article ID: 16
Category: Company Formations
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