A limited company can be formed with just one person taking on all the necessary roles in the company. But if you are starting a company with more than one person – how does the company formation process work, from a practical point of view?
For example, you may be wondering if everyone involved needs to be in the same room (the answer is no, they don’t).
Let’s look at your two options, assuming you can’t all do it together.
Option 1: One person overseeing the company formation
This is the ideal scenario. The person taking care of this – the account holder – will need to know everything about the company and how it’s going to be structured, including the company name, registered office address, appointment information (directors, secretaries, shareholders and people with significant control) and share capital.
We have published a number of blogs that may be of assistance, in case you are unsure about any of the above.
The account holder will also require the following information for every officer in the company:
- Full name
- Date of birth
- Residential address
- Service address
Plus, they will need to know three of the below for each officer:
- Mother’s maiden name
- Father’s forename
- Town of birth
- Telephone number
- National Insurance number
- Passport number
If you have any questions during the process, we are happy to help. However, we can only talk to the designated account holder. To confirm, this is the name that’s given just before you make payment, under the ‘Billing Details’ heading.
Option 2: Multiple people using a shared login
Alternatively, everyone can take it in turns to log in to our system and complete the sections appropriate to them.
Once again, it’s important to highlight that we can only discuss the company formation with the named account holder. This is before and after the company has been formed.
We are legally required to verify the ID and address of company formation customers and certain shareholders. We will be in touch with more information as and when this is required.
Ready to start a company?
We offer a number of packages, perfect if you’re forming alone or as a part of a group.
We hope this blog answers any questions you have about the practicalities of forming a company with multiple people. If you do have further questions, leave a comment and we’ll be happy to help.