What legal requirements must I adhere to to form a company limited by guarantee?

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I want to form a limited by guarantee company. Could someone please outline for me, broadly speaking, what legal requirements I will be expected to adhere to in order to do this? For example, regarding my company type, who will own the company, etc.

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The legal requirements for setting up a limited by guarantee company are:

  • Must be incorporated at Companies House.
  • Must have at least one guarantor and one director.
  • All directors are required to provide a service address for public record.
  • Each guarantor is required to guarantee a nominal sum of money to the company.
  • Must have a registered office address in the country of incorporation.
  • The company must adopt articles of association during the company formation process.
  • If the company is nonprofit or charitable, the articles must clearly state the nonprofit or charitable objects of the company.
  • All company details are a matter of public record.
  • The company must adhere to strict accounting, record-keeping filing and reporting requirements.
  • Charitable companies cannot distribute profits to guarantors.

You can find out more information on setting up and running a limited by guarantee company here.

a year ago
 

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