LTD is the abbreviation of a private limited company in the UK, which is a legal entity owned by shareholders through collective ownership. Its full name is Private Limited Company and it belongs to the legal entity in the UK, with the characteristic of limited liability. LTD does not publicly participate in the market, with a requirement of at least one shareholder and at least one director. Unlike companies in other countries/regions, UK's LTD does not need to designate a legal representative nor have a local person serve as a director. However, a company secretary must still be designated. The minimum registered capital starts at 1 pound, but it is recommended to have a registered capital starting at 1000 pounds. In addition, UK's LTD does not require capital verification, but it is advisable to provide certain proof of funds at the time of registration.