Company registration in UK

Company registration in the United Kingdom

Great Britain is one of the richest, most dynamically developing, and economically and politically stable European countries. It actively supports innovative projects and modern start-ups in the technological field and offers them all kinds of tax incentives like benefits and subsidies. London is deservedly considered the center of the global financial industry; the headquarters of the largest banks, insurance companies, and funds are located here.

ADVANTAGES OF COMPANY REGISTRATION IN THE UK

Among the advantages of registering a legal entity in the UK are the following:

the prestige of the jurisdiction;
economic stability;
double taxation treaties with more than a hundred countries;
transparency and progressiveness of corporate law;
active development of the lending market, favourable credit conditions;
high level of investment protection;
absence of currency control;
transparency and flexibility of the taxation system.

SPECIFICS OF REGISTRATION

The UK is open to foreign investment, and it is easy enough for non-residents to open a business here. All types of activities not prohibited by law are allowed in the country, and a license is required to engage in banking, trust, insurance, and reinsurance activities. The UK Companies House regulates business activities in this jurisdiction under the Companies Act 2006. Upon completion of the company registration, an appropriate certificate is issued — Certificate of Incorporation.

AVAILABLE LEGAL FORMS OF ORGANISATION IN THE UK

Foreign businessmen can set up a company of any proposed type in the United Kingdom. It provides a wide range of types of business organisation (legal forms), including:

LTD is a private limited company. Its registration requires one director, one founder (residence is irrelevant), and a secretary. The minimum authorized capital is £1.
PLC is a public limited company. At least two directors, two shareholders, and a minimum share capital of not less than £50,000 are required to set the company up.
LLP is a limited liability partnership. Its creation requires the participation of at least two partners, which can be both individuals and legal entities. There are no residency requirements for participants.

REGISTRATION STAGES

It is necessary to prepare a package of documents (passports of directors and shareholders, confirmation of residential addresses, statutory documents for legal entities-founders, etc.) for company registration in the UK. It is essential to indicate the type of activity of the new organisation accurately. Submitted documents must be in English.

To conduct business in the UK, companies need a corporate bank account. Recently, many banks have tightened their requirements for account opening — it is connected with the general trend of deoffshorization and the intensification of the fight against money laundering. Opening an account can take quite a long time because of the comprehensive customer due diligence that financial institutions must carry out.

To simplify the process of registering a company in the UK as much as possible, we recommend using the help of COREDO specialists — we provide a wide range of consulting services, and support the activities of companies.

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