SetupaCompany is a company formation agent that has been around since 1994.
Specializing in a fast and simple 4 minute application, SetupaCompany boast a typical formation time of just 3 working hours.
One of the big plus points our SetupaCompany review has uncovered is that they are backed by a firm of accountants, giving you a very professional service.
Main Advantages of SetupaCompany
By far the best thing about SetupaCompany is the speed and ease at which you can form your company. They take care of all of the legal documents so that all you need are a few details about the company you wish to form:
- Your desired company name
- Address of your registered office
- Details of the directors of the company
- Details of the shareholders of the company
Providing you have these things then the application should only take a few minutes to complete, in fact they state it can be completed in as little as 4 minutes.
This is mostly down to the intuition the form uses. For instance, if a person will have multiple roles in the company you still only need to enter them once and then assign them each role.
Your registered office address will need to be a UK physical address and will be shown on the public records. However, SetupaCompany do offer a registered office address service with mail forwarding should you need it although it does cost extra and is perhaps not the cheapest you can find. Still, for speed and ease you won’t find much better.
Main Disadvantages of SetupaCompany
For instance they do not offer a nominee director service nor do they provide any offshore services.
However, for most people these services would not be required anyway and they do still offer some additional services such as VAT registration and company seals albeit for a small additional charge.
The other negative is that SetupaCompany only offer the basic company limited by shares formation. You cannot form other types of companies such as public limited or even limited by guarantee companies. You also cannot issue anything other than standard shares (e.g. issuing A/B shares is not an option). Again though, this will not matter to vast majority of people and it does help to keep things very simple and easy to follow.
Value for Money
In terms of value for money, our SetupaCompany review has highlighted that in addition to your standard company formation, you also gain the following optional extras on all packages:
- Free domain name & email address
- Free ‘Turn £25 into £75’ Google Adwords voucher
- 1 Months free accountancy service
- Free trial of KashFlow accounting software
- Free website builder trial
It should be noted that the free trials are optional and you are not automatically signed up to them so there is no worry about being charged for anything unexpectedly. These extras make for excellent value for money when you consider the cheapest package is only £19.99 which is just £4.99 more than you would pay if you went directly to Companies House.
The Setup A Company Formation Process
As stated the application process for SetupaCompany is very straightforward and is probably the simplest you will find anywhere. The video below will take you through the entire process and is worth a watch if there is anything you are unsure about as it also explains what you should put in each field:
SetupaCompany Formation Packages
There are three different company formation packages offered by SetupaCompany:
FastTrack – £19.99
This package is the cheapest and most basic formation designed for those that just want a company setup without any fuss.
It’s an entirely electronic package which means you do not receive any printed documents through the post.
You will however get PDF’s of the formation certificate and memorandum and articles of association. Best for those who will have an accountant to do everything else for them.
Comprehensive – £29.99
This package contains the same as the FastTrack with the addition of share certificates and printed copies of all documents sent through the post. This is the package we would recommend for most people as it makes your company seem more official and ensures you have all the documents you are likely to need when opening a business bank account. Best for those who want to ensure all the basic requirements are covered.
Professional – £69.99
The top package contains the same as both the FastTrack and the Comprehensive with the addition of a completed set of Statutory Registers (both electronic and printed). This document is a legal requirement for all companies and it will also include a completed copy of your companies first minutes. Best for those who will be doing all accounting in-house.
In addition to this, the SetupaCompany formation packages also include:
The £15 Companies House filing fee
- Online managament of companies (including annual returns)
- The web-authentication code
- Optional free business bank account
- Business startup factsheets (Comprehensive & Professional only)
This means no matter which package you choose, you get a lot for your money.
SetupaCompany Review Summary
Overall then, our SetupaCompany review has shown that if you want to get your new limited company setup, registered with Companies House and fully trading in the shorted possible time – you won’t find a better service.
Designed to keep things as simple as possible, SetupaCompany does lack some of the advanced options offered by other formation agents but these will not be required by the vast majority of people anyway.
Every formation comes with a host of included bonuses that will save you both time and money. In our option, SetupaCompany is the best company formation agent you can use for a quick and easy company setup.