Question 1

What are my options for registering a new company?

Accepted Answer

Before you decide to set up a limited company, you need to consider your options. Registering as a limited company is logical for many businesses; however, you should consider becoming a sole trader or creating a partnership. Mint Formations’ company formations packages cater to whichever you decide on:

Limited company packages from £12.99
Partnership and guarantee packages from £34
Sole trader registrations for £29M

Question 2

How long does it take to set up a limited company?

Accepted Answer

Registering your new company is a relatively quick process, and most applications submitted online will be processed within three to six hours of submission. Once your application is processed, and your company is registered, you’ll receive all official documents in your inbox.

If Companies House is particularly busy, then applications can take slightly longer. If you’re looking to register your company urgently, Mint Formations offers a guaranteed same-day formation service.

Question 3

What information and documents do I need to provide?

Accepted Answer

During registration, you’ll need to provide the following information:

Full name
Email address
Residential or business address
Date of birth
Nationality
Business occupation
Phone number
Town of birth
Mother’s maiden name
Father’s first name

Following the application submission, you will need to provide the below mentioned documents for ID verification to proceed further with the application.

Proof of identity
Proof of address

Both of these documents are for compliance with Anti-Money Laundering (AML) regulations.

Question 4

Do I need to appoint a director for my registered company UK?

Accepted Answer

Yes. All UK limited companies must have at least one director over the age of 16, so you must appoint a director for your new business. Directors are responsible for:

Running the company
Filing annual accounts
Submitting official paperwork

Question 5

Do I need to publish my home address as a director?

Accepted Answer

No. During your registration process, all directors must submit their residential address and a service address. These addresses are allowed to be the same or different from each other. If you would like to keep your home address confidential, you should choose a separate service address.

Mint Formations offer a company director’s address service to allow directors to keep their home address hidden from the public register of companies and safe from intrusions from marketers and members of the public.

Question 6

Do I need more than one director or shareholder?

Accepted Answer

Your company must have at least one director. But, there is no limit to the number of directors a company can appoint during or after registering the company. A single person can be both the sole director and shareholder of the company, or you can select multiple directors and shareholders. Directors can also be the company secretary but cannot be the company auditor.

A company director doesn’t have to be a person; it can also be a corporate entity, such as:

A group
Partnership
Charity

Another limited company To become a company director, you must:

Be at least 16 years old
Not have an undischarged bankruptcy
Not have been disqualified as a company director

Question 7

When will I receive my incorporation documents?

Accepted Answer

Once Companies House approves your company registration application, they will send your documents to you. The documents include:

A certificate of incorporation
Your unique company number
Memorandum and articles of association
Share certificates

You will usually receive electronic copies of your documents within hours of your application approval. If you’ve chosen to receive printed documents, it will take longer for them to arrive.

Question 8

Where should I display my company name?

Accepted Answer

Once your business is registered, you are legally required to display your business name in several places, such as:

Signs
Stationery
Promotional material

On all company documents, business letters, order forms, and website, you must include the following details:

Company registration number
Registered office address
Country of registrations (England and Wales, Northern Ireland, or Scotland)
A statement your business is a limited company — usually shown with “Ltd” or “Limited”

Some companies also choose to include directors’ names. If you decide to do this, you must list all directors’ names.

Question 9

Do I need to do anything else?

Accepted Answer

After your business is registered, you must also:

Keep all company incorporation documents safe — either electronically or physically
Inform Companies House of any changes to your business, such as the appointment of a new director

If you decide after registration that you would like to trade under a different business name, you are allowed to do so, but your company’s legal name must be displayed as required by law.

Question 10

What is a registered company address?

Accepted Answer

A registered company or office address is simply the official address of a business registered with Companies House. Every company must have a registered office address in the UK to comply with the Companies Act 2006.

Mint Formations provides a registered office address service that allows you to register your business with one of our addresses. Our registered office address will be assigned to your company but owned by Mint Formations. Our registered office addresses are not physical locations or office spaces but for correspondence with HMRC and Companies House for registration.

Question 11

Do I need a registered office address?

Accepted Answer

All businesses are required to have a registered office address in the UK under Section 86 of the Companies House Act 2006. You may not feel that you need an official office address if you run your business abroad or entirely online, but you still need a registered office in the UK.

Companies House and HMRC will send all official documents to your registered office address and assume that the company has received them at that address. Other government bodies will also use your company address and are used for official communications and notices.

Question 12

What are the benefits of a registered office address?

Accepted Answer

When you register your company, you can use your residential address as your registered office address. But you may not want your home address on the public register of companies for a specific reason, such as:

Keep your home address private
You don’t own the property
You are going to move soon
You don’t have a UK residential address

Question 13

What are the benefits of a business bank account?

Accepted Answer

If you register as a limited company or partnership, having a business bank account is a requirement for tax. Sole traders don’t need a business account, but the benefits make it worthwhile, such as:

Separates personal and business finances
Save time for business accounting and tax returns
Builds your business’s credit rating
Limitless transactions

Question 14

What business bank account should I open?

Accepted Answer

There are many business bank accounts to choose from, and they’re not all the same. Take your time to look at the options and pay special attention to:

Monthly charges
Interest rates
Transaction charges
Local branches
Internet banking
Customer reviews

To make it as easy as possible for you to open a business bank account, Mint Formations has agreements in place with the following banks:

Question 15

How long does it take to open a business bank account?

Accepted Answer

The approval time for opening a bank account varies from bank to bank. You can set up your account in about 15 minutes online or through the bank’s app. In general, digital banks have much faster approval times than traditional high-street banks, which can sometimes take several weeks.

To open your business bank account, you’ll need to provide:

Proof of identity (usually a passport or driving license)
Proof of address (a bank statement or utility bill)
Business name
Registered address
Nature of your business

Question 16

What are the statutory requirements for a registered company UK?

Accepted Answer

Once you have set up your business, you’ll be required by law to fulfil your statutory requirements. These include:

Alongside this, you’ll need to inform HMRC and Companies House if you:

.

Question 17

What do I need to do if I want to dissolve my company or change my business name?

Accepted Answer

If you want to dissolve your company or change its name, you need to make sure you do it correctly. This involves making sure that Companies House and HMRC are aware of the change.

There are two ways to change a company’s name:

1. A limited company’s director changes the name without shareholder approval

2. Change the name through a special resolution with 75% of your company’s members agreeing to the change

Mint Formations can help you change your business name with whichever method you choose. We can handle the process for you, including all of the required paperwork.

If you want to dissolve your limited company, we can also help you do so correctly and avoid complicated forms and potentially lengthy legal processes.

Question 18

What are my annual filing responsibilities?

Accepted Answer

When you register your company, there are several legal issues that you should pay attention to. If you are the director of a limited company, you are responsible for the conduct of your company, and if certain documents are not filed on time, you can be prosecuted.

Every year you must file:

A confirmation statement with Companies House
Your company accounts with Companies House
Your company accounts and corporation tax return with HMRC

Mint Formations can help you with your annual filing responsibilities by offering a free consultation with an accountant.

Question 19

What are the benefits of starting a business in the UK as a Non-resident?

Accepted Answer

You could choose to base your new business in many places, so why choose the United Kingdom? Despite the uncertainty of post-Brexit and post-Covid Britain, it is still one of the most affordable places to set up a new business.

If you set up a limited company in the UK, you’ll enjoy the following benefits:

Access to the UK market
Security of interests
Avoid the legal red tape
Consumer credibility

Question 20

Do I need to be in the UK to register a new UK business?

Accepted Answer

You do not have to be in the UK — or travel to the UK — to set up a limited company in the UK. The one thing that you will need to have is a registered UK office address. While we would recommend a registered office address, you can use a residential address to register your company.

All Mint Formations international company formations packages help you set up your business as a non-UK resident and include a registered UK office address.

Question 21

What do I need to do to register a UK company as a Non-resident?

Accepted Answer

While you can register your UK company yourself as a non-resident, Mint Formations makes the process easier than ever by taking care of all paperwork and official documents.

Not only does our service take away the stress of registering your company, but it’s fast and affordable.

Have you got a question that we haven’t answered yet? Get in touch with us by emailing support@mintformations.co.uk or calling us on +44 (0)20 7112 8684.

Question 22

Can I open a business bank account as a Non-UK resident?

Accepted Answer

Yes. Non-residents are legally entitled to UK business bank accounts. But the process is likely to be longer than it would be for a UK resident due to AML regulations. Acquiring a traditional, high-street business bank account as a non-resident will require you to visit the UK. Unless you live and work in the UK, opening a bank account with a large UK bank can be challenging.

Mint Formations can help you to set up a UK business bank account. We will assess your suitability, prepare any paperwork and documents and submit your application for fast-track approval. Following the application, you’ll need to travel to the UK with your ID and other documents to verify your identity and complete the process.

Question 23

Are there other options for a business bank account for Non-UK residents?

Accepted Answer

An excellent alternative to a business bank account with a major UK bank is to apply for a virtual bank account. They’re an ideal solution for anybody that cannot or doesn’t want to visit the UK.

A virtual bank account has many of the same features as a high-street bank, such as:

UK bank account number, sort code and IBAN
Receive payments in GBP
Send payments to other bank accounts or HMRC

Setting up a virtual bank account usually takes around three to four weeks. Mint Formations can handle all of the paperwork and procedures of your application to make it as hassle-free as possible.

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Companies House Services

Director appointment - £19+VAT

Director resignation - £19+VAT

Company name change - £69+VAT

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Issue of shares - £79+VAT

Transfer of shares - £79+VAT

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Confirmation statement - £59+VAT

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Accountancy service - £83.25+VAT/month

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Registered office address - from £35+VAT/year

Directors service address - £24+VAT/year

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Apostilled documents - from £99+VAT/per document

Certificate of good standing - from £69+VAT/per document

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