In layman terms, enterprise creation can be described as the process of incorporating a business. After submitting the required papers and a registration fee to the Registrar of Companies an individual may incorporate a company in the UK. Businesses may be licensed these days using either the paper process, or electronically. Start a Nonprofit offers excellent info on this.
It is important for both the paper process and the online process that the individual integrating the firm submits some critical documents. However if there is one document missing, the company’s registration will not be deemed complete, and will thus not be incorporated. The documents submitted using the paper and the electronic process for the purpose of enterprise creation are identical, with only one document not included in the electronic phase.
The documents needed for the enterprise creation process are:
1.A Partnership Memorandum: This document includes the name of the organization and its purpose. It is also necessary to note the registered office address. The company’s purpose must be clearly defined; for instance, whether it will act as a general commercial organization or as a non-profit entity or some other type of business operation. This memorandum must be forwarded to the Registrar, duly signed by each subscriber in the presence of a witness attesting to the signing.
2.Articles of association: This document emphasizes the rules which would relate to the management of the internal affairs of the organization. This document must also be delivered to the Registrar, properly signed in the presence of a witness who certifies the signature by each recipient.
3.Form 10: This document contains the name and other information, such as the addresses, occupation and date of birth, of the director(s), the secretary and the registered office’s forward address. It must also give details of the positions held during the last five years by the people concerned. Each officer listed again and each subscriber must sign the form along with specifying the date.
4.Form 12: This document is a legislative declaration specifying fulfillment of all the legal specifications relating to the business forming process. This must be signed either by the solicitor responsible for establishing the company, or by any of the directors or secretaries of the company mentioned in Form 10. Throughout the signing of the contract, it is necessary to have a commissioner of oaths, a solicitor or a justice of peace and a notary public present. For those observing the formal declaration the normal charge is £ 5.
The only difference in the online process is that you don’t need to request Form 12. The deletion of one document speeds the process considerably. The client will need software that is compatible with the Companies House e-Filing service to access the electronic process. The client often requires an account with the house of the Firms, or may need a Company Forming Agent’s services.