COMPANY LIMITED BY GUARANTEE FORMATION
1. What is a guarantee company.
These type of companies are used by charities and for not for profit promotion of education, commerce, art science and sport, or for promoting the interests of a particular section of society, or for a particular policy.
A company limited by guarantee is a registered company having the liability of its members limited by the memorandum to such amounts as the members may respectively undertake to contribute to the assets of the company in the event of its being wound up.
Facts about a UK Company Limited by Guarantee:
A guarantee company does not have a share capital.
A guarantee company has Members (ie not shareholders).
Members are guarantors instead of Shareholders usually guaranteeing to pay £1 on dissolution.
A guarantee company can hold property and can borrow money in its own name.
Guarantee companies are required to have a secretary.
A Guarantee company must have a minimum of one Member.
Members can be corporate bodies or private individuals.
Members can be of any nationality and live overseas.
Unlike other formation agents we do all the inputting of data to incorporate the company to ensure no errors are made.
The following documents will be delivered via E-Mail after incorporation:
Certificate of incorporation.
Memorandum & Articles of Association.
First Board Meeting Minutes.
Company Register. (Excel format).
If you wish to proceed with a company formation or any other service just click on email button to contact us and we will email requirements. Fees are £60 plus vat of £12 plus Companies House fee of £10 = £82 payable in advance.