An LBG company differs from a system based on equity in that it has no shareholders or share capital. Rather, it's composed of members who each act as guarantors. The guarantors can also be referred to as "members," "trustees," "governors" or "members of the committee," depending on the organisation.
Ideal for non-profit organizations such as charities, sports associations, social clubs, cooperatives, and organizations of membership.
It should have at least one director and one guarantor
Director and guarantor can be the same person.
There is no limit to the number of directors and guarantors of the company unless determined by the Articles of Association.
There are no shares or shareholders in this type of company structure.
It should have a registered office address in the country of incorporation.
Guarantees have several key duties at the company, including:
According to the corporate priorities and objectives
Appointing or dismissing Directors whose job is to handle the company's day-to-day activities (this can be the guarantor itself)
Agreement of the competences of the directors
You have to have at least one principal and one guarantor. A guarantor can play both roles or you can choose to have multiple managers and guarantees
Required details on all directors and guarantees must be put on public record
You will have details of an address at the registered office during the company forming process. This official address for the organization will then be published in the public record. In the country where the business is registered, it must be a full postal address (i.e. not a PO box)
You must complete an Association Memorandum and follow Articles of Association during the establishment process
Limited Company formation service
Certificate of Incorporation
An address for Vat registration
PDF File of Statutory Books
PDF File of Certificate of Incorporation
PDF File of Minutes of the first meeting of Directors
PDF File of Share Certificate(s)
PDF File of Memorandum & Articles of Association
Companies House filing fee paid by us
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