Setting up a Limited Company in the UK can provide an ideal legal and financial foundation on which to build and grow your business. According to the 2014 statistics by the Department of BIS Business Population Estimates, there are around 5.2 million businesses currently operating in the UK, out of which 1.5 million are actively trading limited companies. This equals almost 25% of businesses registered in the UK. They employ over 25.2 million people and turn over an estimated £3.5 trillion. Almost anyone can become a director of a Limited Company, no specific skills or training is required. All you need is an idea of service you would like to provide and readiness to make money.
- UK Private Limited Company by Shares – a business which is incorporated and is therefore a separate legal entity from its owners. Shares in a private limited company cannot be bought by members of the general public.
- Limited liability means that individual shareholders are not personally liable for the debts of the company they are only liable for the amount of money they have invested in the company.
- Possibility to trade and/or set up a branch in other EU member states