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Other Company Formations and Registration Services

Flat Management Companies

In cases where there are several tenants flat management companies are sometimes formed to manage and protect the interest of the persons holding leases. This type of vehicle can take the shape of a company with limited liability company status or as a company limited by guarantee (see below). We have a wealth of experience in both forming and structuring flat management companies and can advise you on whether this type of vehicle is suitable for your needs.

Companies Limited By Guarantee

This particular kind of company formation is normally used for organisations whose primary purposes are not for profit making purposes. Companies limited by guarantee have no share capital and therefore has members instead of shareholders as a company limited by shares would have. The members of the company agree to pay an amount which is pre-determined in the clauses of the company. This sum of money would be payable towards the liabilities of the company in the event that the company is wound up. The amount is typically £1. The Memorandum of association of the company usually provides a clause so the the company can not make any distributions to the members. Charities, associations and the like normally choose these types of companies which considering a vehicle for their activities.

Limited Liability Partnerships (LLP)

Limited liability partnerships are a relatively new type of formation. This type of organisation bears similarities to both limited companies and partnerships. A significant advantage of LLPs to that of a "normal" partnership are that LLP members can limit their liability and therefore protect their personal assets in a similar manner to limited company shareholders. A number of accountancy firms have chosen to change their traditional partnership status to that of an LLP.

Public Limited Company (PLC)

With a PLC there are capital requirements and slightly different director and shareholder structure. However the prestige of having PLC at the end of your name is substantial. Another significant difference for public limited companies and private limited companies is that a public limited company can make a general offer of shares to the public.

Public limited companies have to have an issued share capital of at least £50,000 and have at least one quarter of this amount paid up.

But if the cost can be reasoned, it is difficult to find any disadvantages of offshore company formation.