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. So if you are planning to form your own company, then you should make sure that you are aware on all the important things that are involved in company formation in order for you to know what to do. Before you plan to register your own company, it is important for you to know some of the important factors about this process. The important factors will be discussed in this article.
Form a limited company – you should register your company as a limited company every time you plan to build a small company. Your personal assets, the shareholders and directors will not be affecd with any financial status of the company 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. This is a really important process because it will also be playing a major role in your company name.
Fill out necessary docs – you will have to fill out some important documents once you will have the name for your company. But you will first need to pay a registration fee to the authorized personnel. You will then be required to prepare the Articles of Association and Memorandum of Association yourself, or you can hire a company formation agent or lawyer to do it for you. You will also need to fill up some other forms as well. These are the documents that will contain the details of the rights of the shareholders, the powers of the director, the address of the company secretary, and the physical address of the company. You will not be able to finish the registration process of your company if you will not be able to fill out these important documents.
Find a good company formation agent – you will have a choice to do this or not if ever you are confident on the knowledge and abilities that you and your lawyer have. 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. It is important for you to look for a company formation agent that has a high reputation and experience. If you know some people that is running their own business, then you can also ask them for recommendations and referrals.