Company formation is a procedure that is inevitable for those people who wish to start new companies, this procedure can now be completed online unlike those years when it used to be done to in almost 4 weeks due to the number of procedures that were involved as well as the lack of internet back then, company formation agents are also very helpful during the process. Those individuals who want to turn a skill or hobby into a business that they are very passionate about can then carefully consider going through the company formation process after taking into consideration a few things. Therefore, company formation is the process taken by an individual to register their company to become a legal unit, it is also called company registration.
For one to be able to start running their business well, they need to have a few things in mind during the company registration process, this discussion will aim at elaborating some of these things. One factor that needs to be carefully thought through is the name that should be used to represent the company, the name should be unique and one such way of finding out if any other company is registered with the same name is by entering it into a name-check tool that is online, it compares the keyed in name with the list of company names at Company house. The search tool displays the results very fast and this is very convenient saving up on time on going through research books to look for any company with a similar name.
A company can belong to a number of package plans that are provided by the process depending on the intentions or vision of the individual planning on developing one, therefore it is very important to select from a list of packages that which will best suited for the company’ vision. The company address services also need to be included because it needs to be registered, an office where all the activities will take place could be one such place, or even the home address if the company will be owned by a single individual.
The company formation procedure also has to include the name of the directors or just any one who is in the position of directing, this could either be several people or a single person as well, a detailed document of the memorandum and Standard industrial classification code of activities that shows how control will be executed by the shareholders should also be included in the application.
When the company is registered then a certificate of incorporation will be issued with gives the date and number of formation, there are many registers that help facilitate this process depending on the location that the company will set up.