Future Formations Review

Rated #18 Best UK Company Formation Agent

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We’ll use our Future Formations review to see how close they are to their goal of being ‘company formation agents of the future’.

Established in July 2020, this company aims to build the ‘futuristic’ AI that makes company formations in a variety of languages quick, easy and simple. 

Let’s see how these new kids on the block face up to the rest.

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At a Glance

Although Future Formations aims to be the formation agency of the future, right now their offering is a little more grounded in the present day as their ‘cutting-edge’ AI system is yet to be launched. 

Right now, they offer a range of transparent packages and bespoke formation services, with a number of add ons including a virtual office, 60-month address options and more. 

Although they are newly formed, the creators have had over 20 years of experience forming companies, which they’ve used to design their ‘perfect formation agency’.

With 24/7 support and a promise to make formations seamless and affordable, they could provide some heavy competition for the top formation agencies.

How Does the Future Formation Process Work?

Future Formations promote an easy three-step to completing your company. If you’re ever unsure, you can phone them up and access the 24/7 customer support and they’ll guide you through the whole process on the phone. 

The three steps to go through are:

1. Choose a Company Name

If you want to form a company, you need a company name. That part seems rather obvious, but it’s the first stage of any formation. 

To help pick a good name, you should aim for something memorable that stands out, but also relates to what your business offers. The name “SparkleTree” might stand out to you, but if you’re a roofer, this doesn’t make any sense. 

What’s more, your name needs to be unique to you. You can enter your name on the Future Formations website to check the eligibility and ensure that you’ll be able to register with your chosen name. 

If someone has already snapped it up, you best get thinking of an alternative. 

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2. Choose your company structure and package

Next, you need to select what company structure you want forming, and the Future Formations package that you need. 

Generally, formation agents are most often used to create limited companies, but Future Formations can be used to set up Limited Liability Partnerships (LLP), Charities, Public Limited Companies (PLC) or more.

Discover the difference between these company structures and which one is right for your business here. 

Future Formations offer packages for both UK and non-UK residents, with extras like business addresses in their prime London location and a virtual office thrown in. 

Their packages include:

• A standard company formation only package, priced at £12.50 plus VAT. 
• Address services, including a registered office address or trading address in Canary Wharf, London, where all statutory letters will be processed at no extra cost. 
• An officer’s service address, which provides a correspondence address for directors, partners or other stakeholders in order to protect their personal details. 
• A complete virtual office, including a business address, telephone answering and voicemail service in their premium Canary Wharf location.

Recommended:

If you’re running your business from home, or you simply don’t want your address to be shown on public records, we recommend adding the Registered Office Address and/or Service Address.

3. Complete the form and head to the checkout

Finally, all that’s left to do is to complete an online form with all of your details and pay for your selected package. 

This form is relatively short and will ask for details such as: 

• Your name and residential address
• Your company name 
• Your SIC codes (which you can find out here). 
• Details of any other shareholders or shares required. 
• Your registered office address, if not using their address services

However, it’s not the most intuitive to fill out and some customers may get confused in the details. 

On this form, you’ll also get an option to be referred to one of Future Formations partners. These are exclusive services such as business banking that will offer you cash back when you sign up with them. If you sign up for business banking through Future Formations, you could receive up to £60 cashback.

Fees

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All of Future Formations fees are transparent and listed on the website, which means there are no nasty surprises waiting for you down the line. 

Prices range from £12.50 + VAT for the standard formation to £137.50 + VAT for the registered office and business addresses. 

If you’re interested in having a virtual office, this comes at an extra cost too. The virtual office contracts range from 3 months to 60 months and could cost your company over £300 + VAT for the longer contracts. These packages can be built bespoke, so it’s best to contact their customer service line to get an accurate quote for this additional service.

Value for Money

Future Formations are great value for money, offering one of the lowest basic company formation packages at £12.50+VAT. Their location services are also incredibly competitive, with a sought-after London Canary Wharf address to boot. 

For their optional virtual office services, you might find a better deal by going direct to virtual office providers.

However, if you’re looking to get everything in one place, Future Formations provides a great one-stop solution at competitive prices. 

They also offer parter cashback offers, where you could claim up to £60 back when you sign up to a business banking service through their referrals. Overall, that provides great value for money.

Future Formations Reviews From Customers:

Such an amazing and quick experience from start to finish. I set up an ltd company on a Sunday and the team kindly offered to talk me through on the chat app as I had several questions. The process was super quick and seamless and the after care fantastic with prompt set up, clear communication and helpful additional info. It saved me time and paperwork energy, so money well spent for this to be taken off my hands. Definitely Recommend it.

5-star review from Maggi via TrustPilot

I used Future Formations Ltd to set up my new company. They were not only quick in getting the company formed, the prices were good and customer service outstanding.  My post comes through fast,never having to chase them. I wish all my business transactions were this smooth.  I know I can run my business while they take care of my admin.

Thank you Kalina for all you have done. An easy 5 stars. ⭐️

5-Star review from Guiseppe Traversa via Google Reviews 

Very professional company, My company was formed the same day and e-mailed copies of the incorporation documents were sent to me.

The whole process was effortless, so praise where it is due.

I highly recommend this company

5-star review from Anthony Sebell via TrustPilot 

The Advantages

Let’s put what we’ve learned about Future Formations so far together and talk about the biggest advantages they have to offer. 

24/7 customer service

Future Formations offer 24/7 customer support to help guide you through the entire company formation process and choose the right package that your business needs.

You can get in touch with them on the phone, or by using the live chat on the website. Whichever option you choose, there’s someone on the other end to guide you. 

Lots of packages and add on services 

Future formations offer a lot of packages, making sure that your business gets the exact formation that it needs. Whether you want a straightforward formation or need a fully managed address and virtual office, they have a package to suit. 

Full compliance 

Future Formations are up-to-date, and fully compliant with all legislation and regulations, giving you a service that you can trust. Although the company is new, the people behind it have over 20 years of experience in the formation industry and know their stuff inside and out. 

Exclusive cashback options 

Future Formations have partnered with a range of companies, including Barclays, Tide, and CountingUp to recommend business banking and other services to help set your company up for the future. If you sign up with any of these companies, you’ll get up to £60 cashback. 

Same-day service for a fast turnaround! 

Future Formations offer a fast same-day turnaround, which means that in a few hours your limited company will be set up and ready to trade. Although there’s no set time for how long formations take, their same-day promise means that you won’t be stuck waiting around for your company to be formed.

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The Disadvantages

Now we’ve had a look at the good, let’s mention some of the disadvantages of using Future Formations as your formation agency. 

Newly established company  

Although the people behind Future Formations may have had over 20 years of experience, the company itself is very newly established.

Opening 2020, this company has yet to complete its first year in business. This means that opting for 60-month virtual office packages or any long-term address services may be a risk if the company doesn’t succeed. 

AI system not yet launched 

Future Formations pins itself on being the future of company formations. Although it speaks of an AI system to make the process even quicker and easier, it’s not yet launched.

Right now, they offer the same kind of packages and deals as any other company. That ‘futuristic’ element is, well, too far in the future. 

Virtual office packages have a separate checkout 

Future Formations offer virtual office services at their sought-after London Canary Wharf location.

However, this service is an add on that is done through a separate checkout than the formations, so you can’t bundle both packages together into one price online. If you’re looking for both, you’re best ringing customer services. 

Summary

Although Future Formations is in its early days, we think that it has a lot to offer. With transparent prices that offer a great value for money, Future Formations are a great all-in-one stop to get your company registered and trading in no time at all. 

We’re excited to see what the future holds for Future Formations – and whether the AI they plan to launch will make their services even better.

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