Limited Company

Whether you’re planning your business to service a very select clientele or you’re going to open your doors to the public and take on all comers, you’re going to need to create the business as a separate legal entity so that you can’t be held personally responsible for the business’ debts and other liabilities. This can be done in a variety of ways, but one of the more popular of these is through the creation of a limited liability company. A limited liability company, or LLC, is a corporate entity that combines many of the best features of legal partnerships with the stability and separation afforded by corporations.

One of the main advantages to a limited liability company is that it’s one of the more flexible business entities that you can create… the company can be run in a manner similar to a partnership, yet has many of the same protections for its members as a corporation would have. The LLC has become increasingly popular in recent years, to the point that many major companies that you deal with on a regular basis may be limited liability companies. Is it in your business’ best interest to be incorporated as an LLC? Here’s some information for you to consider so as to help you decide.

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Businesses, their owners and investors regularly worry about asset protection. Of course, sometimes, people worry too much about lawsuits and unethical creditors. And, sure, prudent management of a business or investment combined with a good insurance policy may be all that’s needed.

However, most business owners and investors should consider the three powerful forms of asset protection that the limited liability company provides. In some cases the liability protection provided by a limited liability corporation prevents financial or legal disaster.

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Want to limit your business liability? While many business owners choose to form a regular corporation, a limited liability company often makes more sense for three important reasons.

Reason #1: Really Easy Setup

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A public company limited by shares is a type of company whose shares can be traded in a public stock exchange. The name of the company is always suffixed by PLC (Public Limited Company). In order to form a limited company, it must be registered with the Companies House.

There are a few minimum requirements that must be taken care of when incorporating a public company limited by shares. The minimum share capital requirement to form a public limited company is £50,000 and out of this 25% must have been paid for. Secondly, in order to start a public limited company, it is necessary to have a minimum of two shareholders and two directors. One of the directors can also assume the role of a company secretary. Finally, a certificate of entitlement is a necessity in order to borrow capital and do business. The fulfillment of all these requirements is absolutely necessary in order to incorporate and register the company.

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