Five Things You Should Know About a Certificate of Good Standing
Updated on 18/08/2014
1. A Certificate of Good Standing (sometimes referred to as the Certificate of Existence or the Certificate of Authorization) confirms that a company has been incorporated and is authorised to trade. 2. It typically names the Registered Office; the Share Capital; the names of the Company Officers, Shareholders, and the main objects of the limited company. 3. It also confirms that there are no outstanding unpaid fees, taxes, or penalties. If a company is late in filing its annual return, or has failed to update information about the company’s ownership or constitution it will not qualify for a Certificate of Good Standing until these issues are rectified. 4. UK banks, financial companies or other interested parties may sometimes ask for a Certificate of Good Standing as evidence that the company’s records with Companies House are accurate and up-to-date, and that the company has not been late in filing its annual returns. 5. Having a Certificate of Good Standing is therefore a great way to show that your company is professional. They help to inspire a sense of confidence in your company, so customers or other interested parties feel reassured when doing business with you. This post was brought to you by Claudia Graham at Companies Made Simple