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Company formation basics

What are the basic requirements of forming and running a limited company?

There are 5 basic requirements for forming a limited company. You need:

  • a registered office (in England or Wales to register with Companies House Cardiff, or in Scotland to register with Companies House Edinburgh)
  • 1 or more company directors
  • 1 or more PSC (person with significant control). This is someone who owns or controls your company. They’re sometimes called ‘beneficial owners’. This might be you, or someone associated with your company.
  • to file a confirmation statement and submit accounts to Companies House each year
  • to keep your company register up to date

There is no longer a legal requirement to appoint a company secretary, however companies with only one director will often require a second signature on legal documentation (for example when you open a bank account). If you do not appoint a company secretary this documentation will need to be signed by an appointed witness and many companies are still opting to appoint a company secretary.

For other options and extras to help you in forming and running your company see our options section.

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