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December 12th 2013 / BY: Wisteria

What should you look for from your company formation agent?

There are many formation agents out there so if you are looking to set up a company with a company formation agent, it is best to find out more about what they offer beforehand.

These are the top 8 factors you should check off when choosing between Company Formation Agents to ensure you are provided with a professional and complete service:

1)     Are they registered with ACRA?

The Association of Company Registration Agents (ACRA) encourages agents in the company formation industry to reach and maintain high standards. Thus, if your formation agent is with ACRA, you are more likely to receive a trustworthy and quality service.

2)      Are they recognised by Companies House as formation agents?

Make sure they are on the Companies House list of Formation & Company Secretarial Agents: www.companieshouse.gov.uk/toolsToHelp/formationAgents.shtml

3)      Do they have a high level of customer service?

Checking that they have a good level of customer support on various media’s in place is important in case you have queries and questions during the formation process. This could include:

  • Livechat support
  • Telephone support
  • Email support

4)      Do they offer other services that you may need?

You may need additional services such as accountancy, tax, back office services, company secretarial services and business plans after incorporation.  This could make it easier for your company to have the necessary accounting systems in place from the company’s formation and can indicate a good level of business expertise from the agent.

5)      Are they backed by Chartered Accountants and Chartered Tax Advisers?

If the formation agent can offer you accountancy services or advice from a Chartered Accountant or professional tax advice from a Chartered Tax Adviser after formation, they will be able to assist you while your business grows, not just when you’re starting up.

6)      Do they offer a free Business Consultation?

Some agents offer a free one hour consultation after your formation to discuss you start-up, tax, and accounting obligations. This can be a great way to find out all your need to know for starting up your company, get answers to your questions and ensure you stay compliant with company law and regulations.

7)      Do they have contacts with various banks to assist with opening a UK Business Bank Account?

Personal finances and business finances must be kept separate. This means your new business will need a new bank account. If you would like a head-start or have found it difficult to open an account, it may come in handy if your formation agent can refer you to a number of different banks.

8)      Packages, Products and Prices.

You will need to consider the products they can offer, the quality and the prices.

Make sure that they can provide all your company documents such as share certificates, incorporation certificate, company register and memorandum and articles of association. You may need hard copies of these rather than just electronic copies, so check that they offer official hard copies of your company documents. Many formation agents can also help you to get these notarised.

It may be more beneficial if you are able to select the products and services you actually need rather than having to purchase a package with products included that you may not require or want.

For more information please contact formations@wisteria.co.uk.