How to form a Company with and without Livery

Eligibility Criteria

To be considered for recognition as a City Company Without Livery, a Guild must demonstrate that:

1. Its trade, craft, or profession is not already represented among the existing Livery Companies.
2. It can show a clear and ongoing commitment to the Civic City.
3. All members are engaged in the relevant trade, craft, or profession.
4. Meetings are held within the City of London, honouring historic civic practice.
5. The Guild consists of a fit and proper body of persons.
6. It has a minimum membership of 100 committed individuals.
7. Its annual corporate income and invested charitable funds are sufficient to foster its trade, craft, or profession effectively.
8. It can demonstrate tangible achievements in supporting and promoting its field.
9. It can present a comprehensive business plan supported by four years of audited accounts.

In addition, new Guilds are strongly encouraged to consult any existing Companies whose interests might overlap, and to secure letters of support where possible. This is a key expectation of the Court of Aldermen.

The steps are:

1. Operate for four years as a City Company Without Livery.
2. Submit a Petition to the Court of Aldermen requesting the grant of Livery.
3. Undergo a further review of the Company’s financial position, membership, governance, charitable activity, and civic engagement.

The Court will again verify the Company’s continuity, stability, and ability to play a full role in the life of the civic City. This process is overseen exclusively by the Court of Aldermen.

For nearly a thousand years—dating back to the Norman Conquest of 1066—the City of London has created and nurtured its Livery Companies. Today, there are around 110 Livery Companies, the highest number ever recorded, with several more progressing through the formal pipeline of Guild → City Company → Livery Company.

Throughout the centuries, Livery Companies have evolved. A handful have closed, some have merged, and at least two have even divided (such as the Bowyers and Fletchers). While the first nine centuries saw steady growth, the past 70 years have experienced a significant increase in the creation of new Companies. Apart from the Master Mariners (1932) and the Solicitors (1944), all “Modern” Livery Companies have achieved their status since 1952.

What Makes a Livery Company Unique?

Before looking at how a Company is formed, it is vital to understand several core principles—confirmed in official guidance from the City of London:

1. A Livery Company can only be created by the Court of Aldermen

A Livery Company is a civic institution of the City of London alone. It can only be granted Livery status by the Court of Aldermen, through the issuing of Letters Patent, a power unique to the City. No other city or authority in the UK has this right.

2. There are always exceptions

One universal truth governs both ancient and modern Livery Companies:

There are always exceptions.
Historical precedent, civic custom, and individual circumstances all shape outcomes—so no single pathway fits every case.

3. A Livery Company must represent a trade, craft, or profession

A Company must be rooted in a clearly identifiable occupation connected with the City of London. It cannot be:

• a trade union
• a campaigning body
• a professional membership organisation or learned society

Although education and training may form part of its activities, these cannot be its primary purpose

The First Step: Forming a Guild

The journey begins with a group of individuals working in the same trade, craft, or professional practice, who share the ambition of eventually achieving Livery status. To move from aspiration to reality, the group must establish itself formally—usually as a Company Limited by Guarantee. Existing professional bodies may also act as the seed for future Guilds.

Real-World Example: Guild of Investment Managers

The Guild of Investment Managers Ltd was formed explicitly with the goal of representing the investment management industry. Its inaugural event in July 2017 brought together practitioners from the sector to introduce its aims and recruit members—publicly signalling its intention to progress toward Livery status.

What Happens Next?

Once established as a functioning Guild:

1. The Guild operates successfully—typically for four years.
2. It may then apply to become a City Company Without Livery.
3. After a further four years, it may Petition the Court of Aldermen for Livery status.

This progression is confirmed in the Livery Committee’s official guidance.

Throughout this process, the Guild is normally supported by a Sponsoring Alderman, who guides and advises the aspiring Company.