UK Private Limited Company (Ltd) – Key Benefits
UK Limited Companies have very few restrictions or requirements which makes them a simple yet flexible solution for many businesses.
The main requirements of a Private Limited Company are as follows:
- A registered office is required
- One director is required, the director does not need to reside in the UK
- At least one director must be an individual
- A Company Secretary is optional however it is advised to appoint a secretary at the registered office so all requirements can be easily fulfilled
There are a number of advantages associated with a Private Limited Company. Some of these are as follows:
- Limitation of Liability – This is the main advantage of a Private Limited Company. The company is a separate corporate body from the individual and liability for payment of the debt stops with the company
- Profit Distribution – Profits made by the company can be distributed to the shareholders in the form of dividends
- Ownership & Control – Private Limited Companies are flexible in their control and ownership and decisions can be made quickly and easily.
- Separate Entity & Succession – Being a separate entity a Private Limited Company can benefit from continued existence and ownership can be easily transferred to another person.
- Flexibility of Objectives – Because Private Limited Companies do not have to set the objectives for their business in the Memorandum of Association this leaves companies free to operate in many areas and markets.
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