Types of UK Company

There are various types of company that can be created.The two main types are:

Public Limited Company

Necessary if the company is to trade its shares to the public

Can undertake any nature of business

Can operate anywhere in the world

Members have limited liability

High initial capital commitment (it must have allotted shares to the value of at least GBP 50,000. A quarter of them, GBP 12,500, must be paid up)

Must have at least two directors and two shareholders

A private company can be converted to a PLC, so most PLCs start life as normal private companies and convert at a later date prior to flotation of the stock markets

Private Limited Company

Normal commercial trading purposes

Suits the majority of requirements in the UK

Can undertake any nature of business

Can operate anywhere in the world

Members have limited liability

Can have a sole director and sole shareholder

Must also have a company secretary - there must be at least two separate officers (director/secretary)

More details on forming a UK limited Company

Previous>> Forming a New UK Company