Limited liability company incorporation, quite simply is a company whose liability is limited. Limited liability company is a type of company which when set-up allows an entrepreneur to keep their own assets as well as finances separate from the business itself. This means that people who are interested in the business are only accountable for any company debts up-to the amount that they have invested and no more.
It is therefore a superior method for a business to get investment without risk to a personal wealth. Essentially a limited liability company formation is seen as an entity in its own right, which can be subjected to legal action. As a separate body, a limited liability company can even be the director of another company.
The formation process
In order to set up a limited liability company, there are a few criterions that first have to be satisfied.
Firstly, the company must be registered with company’s house. TBA & Associates is here to help entrepreneurs who are planning to set-up a limited company, we know what is required by the government as well as can offer a number of services to help new start-ups register their business as well as thrive in the market place. We have numerous company formation packages, allowing you to start-up your business, from as little as FREE.
The second requirement is that the company must have at least one director who is at least sixteen years of age. The new act has removed this as it was being abused by companies, have directors less than sixteen years of age.
Need help for LLC Set Up? Then consider visiting the official website of TBA & Associates.