Company Formation, LLP
The attraction of forming a company is the limited liability of the shareholders in the event of financial problems. This means, if the company has conformed to the law, that in the event of financial problems the shareholders personal assets are not at risk. This concept now includes a ‘Limited Liability Partnership’ where the partners – known as members – contribute an agreed amount of capital and have no further risk providing, of course, compliance with the law. An unincorporated partnership does not have this protection.
There are formalities to be followed for forming either a limited company or a limited liability partnership. GB will help deal with these formalities. We strongly recommend that an operating agreement be agreed between the shareholders and members and we can assist with this if this is required.