Limited by Guarantee formation

Limited by Guarantee formation

£ 299.00

An LBG company differs from a system based on equity in that it has no shareholders or share capital. Rather, it's composed of members who each act as guarantors. The guarantors can also be referred to as "members," "trustees," "governors" or "members of the committee," depending on the organisation.

Description

How does a company limited by guarantee work

  • Ideal for non-profit organizations such as charities, sports associations, social clubs, cooperatives, and organizations of membership.

  • It should have at least one director and one guarantor

  • Director and guarantor can be the same person.

  • There is no limit to the number of directors and guarantors of the company unless determined by the Articles of Association.

  • There are no shares or shareholders in this type of company structure.

  • It should have a registered office address in the country of incorporation.

Guarantees have several key duties at the company, including:

  • Project formation

  • According to the corporate priorities and objectives

  • Appointing or dismissing Directors whose job is to handle the company's day-to-day activities (this can be the guarantor itself)

  • Agreement of the competences of the directors

Requirements:

  • You have to have at least one principal and one guarantor. A guarantor can play both roles or you can choose to have multiple managers and guarantees

  • Required details on all directors and guarantees must be put on public record

  • You will have details of an address at the registered office during the company forming process. This official address for the organization will then be published in the public record. In the country where the business is registered, it must be a full postal address (i.e. not a PO box)

  • You must complete an Association Memorandum and follow Articles of Association during the establishment process

This package includes:

  • Limited Company formation service

  • Certificate of Incorporation

  • Registered Office

  • Vat Registration

  • An address for Vat registration

  • Business Telephone

This service includes:

  • PDF File of Statutory Books

  • PDF File of Certificate of Incorporation

  • PDF File of Minutes of the first meeting of Directors

  • PDF File of Share Certificate(s)

  • PDF File of Memorandum & Articles of Association

  • Companies House filing fee paid by us

  • Free Online Company Manager to Maintain your Companies

  • Ready to trade limited liability partnership

  • Web authentication code to update Companies House records

  • Free Online consultation for your Company

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