Before actively forming your company on your behalf, Prime will discuss which business structure would be most suitable for you. Having managed hundreds of companys' formations, Prime is widely experienced in advising which business structure would best match your requirements:

Sole trader

This is the simplest form of business since it can be established without legal formality. However, a sole trader will be held personally liable for any debts that the business incurs.

Partnership

A partnership is similar in nature to a sole trader but because more people are involved it is advisable to draw up a written agreement and for all partners to be aware of the terms of the partnership. Again the business and personal affairs of the partners are not legally separate. A further possibility is to use what is known as a Limited Liability Partnership (LLP).

Company

The business affairs are separate from the personal affairs of the owners, but there are legal regulations to comply with.

The appropriate structure will depend on a number of factors, including consideration of taxation implications, the legal entity, ownership and liability.

Once you have decided which business structure is the most appropriate, Prime can also help to save you time by managing your company’s formation:

• New company – formed same day, at a competitive price
• Limited Liability Partnerships
• Company limited by guarantee Residents Management company