It is no secret that the UK is a country of entrepreneurs. There are no barriers for foreign investors and businessmen in the United Kingdom; they are also provided with various benefits, including tax ones. Many businessmen choose the UK as a place for conducting international business and for the implementation of their commercial goals. Business in the UK is promising in itself, and competent tax planning will also make it profitable. By the way, according to the Forbes list, the UK ranks first in the ranking of countries for registering companies. Now is the time to take a closer look at why the UK is considered the ideal place for doing business and registering non-resident companies.
Company registration – direct benefits
An investment in a company in the UK is an investment in a completely legal business that is not offshore. Hence the high reputation and prestige of such companies. The profitability and benefit of doing business in the UK are reflected in tax optimization. In the UK, there is the possibility of avoiding double taxation, and if certain conditions are met, it is possible not to pay corporate tax at all. But this is not all that speaks in favor of registering companies in the UK:
1. Fast process of opening a company. Establishing a company requires a small amount of documentation and a minimum of requirements. Company registration is done online, literally in a matter of hours.
2. Minimum expenses for registration and further service and support of the company.
3. High prestige of jurisdiction and company in the UK. And this is the ease of doing business, respect for business partners, high investor confidence, access to the international market. Great Britain has never been offshore – and this is a huge plus in the context of de-offshorization of business.
4. Favorable tax regime. A very flexible taxation system, which provides for the application of a 0% corporate tax rate when registering a company as a non-resident and receiving income exclusively outside the country.
5. Companies in the UK are very widely used among residents and non-residents, individuals and legal entities, even as a link in an agency scheme.
6. The liability of partners of a UK registered company is minimal and limited to contributions made to the statutory fund.
7. Maximum confidentiality. Limited partnerships are not required to enter information about the beneficiaries in the open register of owners. But even if the form of ownership does not allow keeping data in a closed register, we offer a nominee service that will save the beneficiaries as much as possible from disclosing personal information.
8. English law provides high protection for investors and businessmen who have incorporated a company in the UK.
9. The developed financial system is the most reliable in the world. Commercial accounts are protected as much as possible, which distinguishes them for the better from offshore banks and companies.
10. High degree of asset protection and lack of foreign exchange controls.
11. Possibility of remote management of the company. Even shareholders’ meetings are allowed to be held in any country in the world.
12. If you have your own company, permanent residence and British citizenship are much easier to obtain.
Reliable legal protection, an independent judicial system, flexible taxation, and high trust of foreign partners – these conditions make the UK an attractive jurisdiction for starting a business.
Registration procedure
The procedure for opening a company in the UK is standard and is divided into the following stages.
1. Choosing a name for the company. This is a very important organizational stage. It is possible to enter only a unique name in the state register, which is not repeated or is not similar to the already existing company name.
2. Provision of information and documents: the structure of the company, type of activity, the size of the authorized capital, copies of the passports of the founders, a certificate of actual residence. From legal entities – copies of corporate documents, financial statements.
3. The third stage is the preparation of registration forms.
4. Direct registration of the company in the Register takes a maximum of 24 hours. Production of corporate documents – 3-4 days.
5. All finished documents and seals will be sent to the owner of the company by courier.
The cost of the “Basic” package for registering a company in the UK is 1220 Euro. If a company opened in the UK is planned to be used outside the UK, then registration should be ordered along with the preparation of apostilled copies of corporate documents. This package of services is called “Apostille”. Its price is 1740 Euro. The cost of registration services in the nominal service is 2100 Euro.
The annual extension of the company is 1475 – 1560 Euro.
It should be borne in mind that the registration of a company in the UK is a very laborious process, which has several subtleties and peculiarities. That is why the work of registering a company in the UK should be entrusted to professionals.
