Limited Company – Information on Limited Companies
By Angela Sanders Saturday, August 24, 2013, 03:21 AM EDT
When you are ready to register your business, you need to take the time to understand your options. While the best professional registration organizations will offer you the chance to be a limited company, you still need to decide exactly what kind of limited company you want to be. There are a few choices and each decision comes with its own set of rules. In order to get the most out of your business registration process, you need to do a little of your own homework to understand the kinds of business structures. You will find that most professional registration organizations have libraries of information on their websites that will help you to gain the level of understanding that you need. Once you start reading up on your choices, then you can start to decide which the best for your business is.
If you plan on doing charitable work and being a not for profit organization, then your limited company should be limited by guarantee. This is a designation that is reserved for companies that want to do non-profit or charitable work but still need to have a corporate designation. This can cover clubs, trusts and charitable societies among other types of non-profit organizations. There is a strict set of rules that your organization must follow if you want to gain this designation and you should spend time becoming completely familiar with these rules before applying to be a limited by guarantee organization.
A limited liability partnership is a form of a limited company that is not a corporation but it is still a stand-alone entity. This is good kind of structure for medical practices, accounting firms, law firms or any organization that has several potential owners that want to be represented individually. There are special considerations that come with a limited liability partnership that you should be very aware of before getting involved in it. The tax implications and general structure are very different than a corporation, so take the time to understand a limited liability partnership before you become one.
A public limited company is not usually the kind of organization that gets started from the ground up. In most cases, a company goes public after finding years of success in the private sector. There is a long list of reporting laws and tax rules that you need to become familiar with before being able to take on this designation. If your company is ready to go public and sell shares, then you should consider this corporate option. For more business advice visit http://www.warreldane.com/.