Approval Declaration and Its Importance when Establishing a Company in the UK
What is a Statement of Consent?
An important issue we encounter when establishing a company in the UK is the "Declaration of Approval". The first declaration of approval is usually 1 year after the date of incorporation of the company. However, businesses can submit a Declaration of Approval to notify changes in the company structure long before this date. The Confirmation Declaration is a declaration that officially documents the ownership structure and share transfers of the companies.
Why is a Declaration of Approval Required?
The importance of the Confirmation Statement is to confirm the distribution and ownership among the shares of the company. This document is signed by the shareholder and declares that the shares have been correctly transferred and committed. Thus, it prevents possible ownership disputes during the establishment of the company and makes the ownership structure of the company more transparent.
How to Prepare a Declaration of Approval?
The Consent Statement is usually prepared together with the company's articles of association or shareholders' agreement. This document must contain the distribution of shares and related information. The main information it should include:
Distribution of shares and names of shareholders
Date and method of delivery of shares
Value of shares and other relevant information
Section where the Declaration of Approval is signed with date and signatures
Confirmation Statement and Companies House
Companies House is an institution where declarations cannot be made after the date of the Approval Declaration. Therefore, company owners should check the relevant company's Approval Declaration date on the official portal of Companies House and take care to submit their declarations before the submission deadline.
Confirmation Declaration Service
As Kobimarj, we follow the Approval Declaration dates of all the companies we establish and provide the necessary information to our customers. We also offer the Declaration of Confirmation service, helping our customers prepare this declaration when necessary. To submit a Declaration of Approval, information on the company's authentication code is required. A declaration cannot be made to Companies House without this information.
Conclusion
When setting up a company in the UK, the Consent Statement is used to document share transfers and ownership structure. It prevents possible ownership disputes after the establishment of companies and helps the business operate in a more transparent manner. The Approval Declaration must be kept among the business documents and submitted to the relevant authorities when necessary. Here is general information about the Declaration of Approval, which is important for entrepreneurs who are considering opening a company in the UK as Kobimarj.
