The regulatory and legal requirements of initiating a business in the UK have become significantly simpler in recent years. The United Kingdom, with its favourable rules & regulations, well-equipped
infrastructure, strong governance and high standard facilities lands itself amongst a few of the top destinations for starting a business. The World Bank ranks the UK first in Europe and sixth in the world in terms of setting up a business in the UK.
One of the major considerations while incorporating a business is the type of entity that needs to be incorporated which varies on several factors such as the purpose of the business, ownership, liabilities and others.
The most common type of entity that is incorporated in the UK is a Private Limited Company (Ltd). Following are the requirements for incorporating an Ltd are as follow: