thanks for your answercan you please explain me that what Limited Company is? What is the defination in easy words? and how can i make it? and why it is good/better choice? AND i did not understand these words clearly "it will help limit your personal liability and help separate the assets from you personally which will make it easier for the bank to secure any loan. Which I can guarantee will be required"3rdI have EEA family member 5 years resident permit, and after 2 years i will get Permanent Residency of UK. Am i eligible to apply for business Loan?4thhow much business Loan normally people can get easily? for example £20,000 to £40,000?my question has 4 parts, sorry for that, but i really need to know the answers. if you can help me out. thanks iqbal
System of Law: England-and-Wales
HiThank you for accepting my answer.1. A limited company is a form a legal person. It can own assets, incur liabilities and carry on trade. A company is limited by shares, that means the owner of the company owns the shares. The shareholders liability is then limited to the amount of money they have paid for the shares. To look into forming a company visit www.companieshouse.gov.uk2. If you form a company you will be able to use it in part to limit your personal liability from the liabilities you incur in your business.3. Your immigration status won't directly affect your ability to own a company but it may affect your ability to obtain a loan that will depend on which ever bank you use and their lending criteria.I look forward to hearing from you.Kind regardsAJ
LLB, LPC, DELF
HiThank you I really appreciate you accepting my answer.If you have any further questions about limited companies generally this thread will remain open.Kind regardsAJ
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