Checklist - Starting a limited company
There are a lot of decisions you need to make as you begin the process of starting a limited company. Our checklist will give you some pointers.
Here's a list of questions to ask yourself when starting a limited company for property investment.
Choosing a company name
Read our company name guidance here
Directors and shareholders
⃞ Have you decided who will be the company directors
⃞ Are all company directors aware of their duties and role within the company
⃞ Have you identified all the shareholders and discussed the structure of the company with them
⃞ Have you determined how many shares each shareholder will be issued?
Privacy
⃞ Do you have a dedicated business phone number (either mobile or landline)
⃞ Have you identified a specific email address for your business?
Banking
⃞ Have you researched business bank accounts for their fees, interest rates and access to online services
⃞ Have you checked they support Open Banking (to connect to Provestor for automatic import of your transactions)
⃞ Have you decided on what accounts you need, for example: savings accounts, credit cards, PayPal accounts, etc.?
Insurances
⃞ Have you researched what landlord insurances you need
⃞ Do you need employers’ liability insurance (are you employing anyone)
⃞ Do you need any lifestyle insurance, for example life insurance or income protection?