Here’s an overview of the types of companies we incorporate.
Here’s an overview of the types of companies we incorporate.
This is the most popular and most common type of company.
The liability of the members is limited by shares.
The company is:
Limited by Guarantee companies are usually ‘not-for-profit’.
The company:
The Limited Liability Partnership is a business entity with limited liability for the members. It is similar to a limited company and the main difference is that an LLP has no shares and has the organisational flexibility of a partnership and is taxed as a partnership.
A Public Limited Company (PLC only) is a type of limited company in the United Kingdom which is permitted to offer its shares to the public. All public limited companies’ names end in ‘PLC’.
There is a minimum share capital for Public Limited Companies: Before it can start business, it must have allotted shares to the value of at least £50,000. A quarter of them, £12,500, must be paid up. Each allotted share must be paid up to at least one quarter of its nominal value together with the whole of any premium.
A Flat Management Company is set up to manage a property divided into a number of separate flats. Each flat owner usually has a lease of their own flat. They can also be a member of a management company that owns the freehold (or lease) of the entire building.
These are Private Limited by Guarantee Companies which allow long leaseholders in blocks of flats to take over the management of their building.