Company Registration in UK
The United Kingdom has always been an attraction for business owners all over the world. The United Kingdom is one of the top destinations for starting new businesses in the world because of its well-equipped infrastructure, high quality facilities, strong governance and well-implemented rules and regulations.
To get Company registration in the United Kingdom no citizenship is required. Although there are some restrictions on non–resident before opening a limited liability company.
The process of incorporation of a company is fairly easy and can be completed within 24 hours without any requirement of physical appearance of the owner or directors. Also, there are no restrictions regarding the nationality of the shareholders or the directors.
Benefits of incorporating a company in UK
- The regulatory and legal requirements for starting a business in the United Kingdom have become much easier in the past few years. Whether it is registering as new business and filling out a tax return through the U.K.’s color-coded online system, the barriers to getting started have been steadily getting lower. The World Bank found that it takes 13 days to set up a business in the UK, compared to the European average of 32 days. It ranks the UK first in Europe and sixth in the world to operate a business.
- The British government provides numerous financial schemes that offer significant tax benefits not just to smart investors who can afford expensive tax advice, but also to the founders and employees of companies. If you sell your company, you can claim up to £10 million of Entrepreneurs Relief and investors can claim up to £150,000 in tax credits on their investments each year.
- The OECD noted that the UK is second in the world for Product Market Regulation and is only behind Australia, has the least restrictions to entrepreneurship in the world and has the third least barriers to investment and trade in the world.
- The United Kingdom has an extremely efficient communication system and has the most extensive broadband market among the G7 countries and one of the strongest ICT infrastructures in the world.
- Speaking in the international language of business: Operating in English gives firms in the UK a natural advantage when communicating globally.
How to register a company in UK?
Company Name: The name of your company should be unique and should not contain any prohibited words.
Director: Only one director is required for the company formation but there is no limit to the number of directors you can appoint. The age of every director should be 16+
Shareholder: Only one shareholder is required but there is no limit to the number of shareholders you can appoint.
Registered address: This address of the company must mandatorily be in the UK and will appear on the public register.
Directors service address: Each director, secretary and PSC must provide a service address for Companies House. This address can be located anywhere in the world but it will be on the public record.
Documents and information required for company incorporation in the UK
For starting up a business in the United Kingdom, we will require the following documents and information:
The Memorandum of Association: a short document confirming the owners intention to form the company and to become members of that company on incorporation.
The Articles of Association: the company’s principal constitutional document, which contains in detail all the administrative provisions of the company’s operations that are agreed by its members. It sets out how the important decisions are taken by the members and directors, as well as various matters connected with the shares, general meetings of the members, appointment and powers of directors, board resolutions and notices, helping to ensure that the company’s business runs as smoothly and efficiently as possible. A company can either adopt a form of Model Articles defined by Statute or adopt their own Bespoke Articles.