Unlimited Companies are a fairly rare type of incorporation. All members or shareholders have total joint responsibility to cover all debts and other liabilities that the company generates, regardless of how much capital each contributes. They can be incorporated either with or without a share capital. The finances of an unlimited company can remain completely private.
There are many benefits to opening an Unlimited Company such as no requirement to publish or make public financial affairs or file annual accounts with Companies House. It has the ability to sustain its own profit while holding a great deal of control of the details and transactions of the company. Shares can be distributed and businesses can continue even if one owner retires or becomes deceased.
To incorporate an Unlimited Company we require the following:
- The company name
- A UK Registered Office Address
- A Minimum of 1 Individual Director and 1 Shareholder
- The Officers can be any nationality and reside anywhere in the world
- Name and Address of the Director and Shareholder