Companies registered as private limited in the UK can obtain a certificate of good standing from the Companies House. The companies in the UK that have been continuous, unbroken since the day of its formation, and have complied with all the statutory filing requirements since that date are capable of obtaining a certificate of good standing. However, for obtaining this certificate, a company should have all the fees of Companies House or HMRC cleared, also there must not be any actions being taken against the company to exclude it from the register.
In order to apply for a Certificate of Good Standing for a private company limited by shares or guarantee, you must ensure that:
- The firm needs to have at least one 'natural' director
- The annual confirmation statement and annual accounts must be sent to the Companies House within the statutory filing deadlines.
- Transformations to your company's registered details are reported fast.
If you can fulfil all these requirements, you will be able to get a Certificate of Good Standing any time after company formation.
What is the need for a Certificate of Good Standing for a company?
A Certificate of Good Standing is most often needed in case of the circumstances given below:
- Opening a business bank account for a UK limited company with non-resident directors.
- Opening an overseas bank account for a limited company registered in the UK
- Trading overseas or setting up an overseas branch for a UK-registered firm
- For satisfying lenders, potential clients, suppliers and investors who consider lending or doing business with your company.
What details are present on the Certificate of Good Standing?
The details mentioned below are displayed on a Certificate of Good Standing:
- Names of all the company directors.
- Names of all company secretaries if applicable.
- Registered office address.
- Date of incorporation with Companies House.
- Confirmation that the company stays updated with all the statutory requirements.
The validity of the Certificate of Good Standing is only for three months from the date of issue. Subsequent to this, you will be required to apply for an up-to-date certificate, if necessary.