Any newly incorporated business involves tremendous planning and has to go through several complicated processes and phases that are responsible for building a strong business foundation. All this process that implies its constitution is called Constitution of Companies or Registry of Companies.
UK law and a host of other international laws treat the company being incorporated as a separate entity, different from the person who started or owns it. Many different types of companies are incorporated in the UK every day, such as the limited company, private limited company, unlimited company, limited liability company, limited partnership, royal charter, community interest company and many more. . All of these companies have to go through the company formation process.
In earlier days, all companies were formed on paper only, but today, most of the company formation process is done electronically, via the Internet. While the paper process is going on, the person who has incorporated the company must submit various documents and a registration fee to the Registrar of Companies. Documents include a memorandum of association, articles of association, form 10 and form 12.
The electronic process differs from the paper process in only one way; Form 12 (ie, Legal Statement) is not required. To start electronic company formation, the user requires software that is compatible with Companies House’s electronic filing service and an account with Companies House. If they are not available, the business owner may use the services of a Business Formation Agent.
Different company formation agents adopt a different procedure for incorporating a company. The Agent must be recognized by the Mercantile Registry and must have passed the integration test phase. The Company House has a list of all Company Formation Agents. Now, various service providers have also appeared online offering company formation services and business support to new corporations.