A limited liability company is fully independent of its owners. It is responsible for its own activities, finances and obligations. It can sign contracts and borrow money in its own right. The owners’ liability is limited, i.e. they are only responsible for the company’s debts up to the sum of their investments or guarantee.

A limited liability company must be registered with the Companies House as limited by shares or by guarantee.

The same person can be both an owner and a director of a UK company. Citizenship or residence of shareholders and directors do not matter.