If your business is to operate as a limited company you must issue a minimum of two shares and appoint two directors, one of whom is required to act as the company secretary. The company secretary is responsible for ensuring that all legal obligations are met and in many cases, the individual concerned has to rely heavily on the expertise of others to provide guidance on their duties and responsibilities.
Our team can help you to set up your limited company, appoint the directors and obtain the Certificate of Incorporation for a Private Limited Company and Memorandum and Articles of Association required to commence trading. We can also provide a critical reference point for guidance on the duties and responsibilities of Directors and Officers of the company.
If your business is a partnership you should ensure a formal Partnership Deed is drawn up to reflect the terms agreed between yourself and the other partners. It is important to remember that if a deed is not in place, the partnership may need to be dissolved in the event of a dispute; you may also face difficulties and potential court action to get rid of a disruptive partner.
There are various issues to consider at outset, for example: who the partners are, the division of shares and how profits (and losses) are shared. Advice from our team of specialists during this stage is vital and the Partnership Deed should also be reviewed periodically, to take account of any changes within the partnership, e.g. the inclusion of new partners.