Procedure of company registration
Private Limited Companies are governed by the ‘Companies Act 1985’. A Private Limited Company is a legal entity in its own right; separate from those who run it, the shareholders. The limited liability, potential tax advantages and simplicity in running a private limited company make it the most common form of registered business in the UK. As a shareholder, your personal assets remain separate (unless they are secured against the business for borrowing) and your risk is reduced to only the money you have invested in the company and any shares you hold which you have not paid for.
There is no minimum capital requirement for a Private Limited Company. Private Limited Companies are required to have a minimum authorized share capital of GBP1 (or its currency equivalent) and are formed with both authorized and issued share capital. The minimum issued capital is one share but additional capital is usually issued to reflect the stability of the company. Unissued shares can be issued at any time by the directors, subject to prior approval from the shareholders. Shares in a Private Limited Company are transferred by private agreement between the seller and the buyer.
Documents required for company formation:
In order to register a Private Limited Company the company name must be officially approved by the Registrar of Companies. Once approved the following documents are required:
- Certified proof of ID for directors / shareholders and beneficial owner
- Certified proof of address for directors / shareholders and beneficial owner
- Completed Application Form (supplied by Eltoma)
The formation of a Private Limited Company is a very quick process and we can even offer next day incorporation (once all documents are received and approved)
The following documents will be received upon incorporation:
- A Certificate of Registration
- Memorandum and Articles of Association
- Minutes of the First Meeting of Directors
- Share Certificates and Company Register
Cyprus Variable Capital Companies: AIFs
There are two types of Variable Capital Companies in Cyprus; UCITS and AIFS. Read on to find out more about Alternative Investment Funds.
Cyprus Variable Capital Companies: Open-Type UCITS
There are two types of VCCs in Cyprus; UCITS which we will discuss in the following article, and AIFS.
Protection of Nominee Directors from IRD claims for Cyprus client companies
Legislation re Cyprus Tax Residency:
Cyprus Company Law: Responsibility of Directors for the non-payment of taxes
A Company Director, in a company incorporated under the laws of the Republic of Cyprus, may be found liable by the Inland Revenue or Customs & Excise with regarding tax related issues. As per the legislation, the Inland Revenue or Customs & Excise may personally prosecute the Company Directors who are involved in any taxation offence(s) or related financial matters.
Inward re-domiciliation: changes to the Singapore Companies Act allowing foreign firms to re-domicile to Singapore
In order to ensure that the regulatory regime of Singapore continues to be robust, relevant and in line with international norms, on the 30th of March 2017, the Companies (Amendment) Act 2017 of Singapore was gazetted. Among the number of amendments to the Companies Act, the provisions for the inward re-domiliation regime are arguably the most important in further boosting Singapore’s character as a business hub.
Inward re-domiciliation: Key changes to the Singapore Companies Act make company relocation to Singapore easier than ever
Last March, the Singapore Government amended the Singapore Companies Act 2017 which introduced an inward re-domicile (or relocation) regime in an effort to boost Singapore’s attractiveness as a business hub.
Cryptocurrencies: technical and legal overview
In this article, we will try to succinctly describe the technical and legal characteristics of Cryptocurrencies. The understanding of Cryptocurrencies is crucial for today’s modern payment services and investment opportunities around the world. We have seen the increasing importance that this topic has acquired in the last few months and the rise of the price of the most popular type of Cryptocurrency, the Bitcoin, from $0.06 cents of a dollar in 2010 to $5,518.85 by the 25th of October, 2017.
The Belize IBC Amendment Act 2017: 3 notable changes for businesses
Belize has amended its International Business Companies Act. These changes were to maintain its financial services industry in the increasingly regulated international market & meet the OECD white list requirements.