Many small business owners try to register a Limited Company in their name, but the process is a difficult one to follow and often they end up losing their valuable asset to the court because they did not register properly. There are differences between a Limited Liability Company and an Unlisted Company; it is necessary to differentiate between these two. This article provides some useful information on how to register a register limited company.
The basic difference is in liability. A limited company only has limited liability, whereas, an unlisted company has unlimited liability. Unlimited Companies (for all unlimited companies, there’s no limit on the liability of its directors to pay off the creditors of the company and if the company is winding up, the directors are individually and jointly liable for the outstanding debts of the business. Only limited companies can be registered by executing the correct kind of business registration forms.)
Another important point to note in relation to business registration and Limited Liability Company registration is the use of residential addresses. The use of residential addresses for Company name is mandatory provided that the company has assets or any business activities taking place from a specific address. As per the UK Regent Acts, the company must use the residential address of its registered office for all official correspondence and notices. The Company must also submit copies of its Memorandum and Articles of Association to the Secretary of State. The complete list of UK Regent Acts pertaining to business registration and limited liability company name searches is available at the Business Names Select site.
