Main Characteristics and the basic rules of Company registration in the UK
Taking your business operations abroad is a good idea but you have to be careful about the country. If capturing the European market is on the agenda, it would be a good idea to start with the UK. The strong economy, stable government, pro-business measures and strategic location of the UK makes it ideal for expanding almost any venture. However, you can form different types of companies in the UK and it is necessary to analyze the various pros and cons. You can opt for a LLP or limited liability partnership company in the UK. However, at the beginning you may gain by seeking consultation of experts. Our UK LLP Formation services can be perfect for you.
The immense flexibility offered by a LLP company in the UK cannot be overlooked. Based on how the LLP is formed, it may not be under taxation. Usually, an UK based LLP with two partners will not need to pay Corporation Tax for offshore operations. However, any profits will be taxable individually on each of the partners for trading within the territory of the country. For understanding nuances of taxation and exemptions on LLP companies operating in the UK, try out our UK LLP Formation services. You have to think of the fact that the UK has numerous double taxation treaties signed with separate countries.
There are other benefits of setting up a LLP company in the UK as well. For example, to be a legal partner in a UK based LLP there is no restriction on nationality. As a partner of such a LLP operating in the country, you may very well be resident of another country. There can be 2 or more members for forming such a company.
As a LLP, your company can benefit from several other facilities availed by other companies operating in the UK- as it is. The excellent transportation and telecommunication setup in the country will aid your business for sure. The govt policies towards businesses have become more flexible with time. The skilled manpower available in the UK and cheap cost of hiring labor will be of use to you. You will not have to wait for long to form a LLP company in the UK- as it is.
While forming a LLP company will not be tedious in the UK, you will definitely benefit by seeking expert consultation services. Let BRIS group help you set up such a company. Talk to us to get details on UK LLP Formation services.
|UK Private Limited Company Formation||Financial Advantages|
|Double Taxation Treaty Access:||Yes Treaty Access with many countries|
|UK Tax Information Exchange Agreements:||Yes, United Kingdom signs Exchange Agreements|
|Account Filing Requirements:||Yes accounting or reporting requirements|
|Annual Return Filing Requirements:||Yes annual return/ reporting requirements|
|Audit Requirements:||Yes audit required (small companies excluded).|
|UK Private Limited Company Formation||Registration Requirements|
|Share Capital:||GBP 100 Minimum paid up share capital: GBP 100|
|Classes of Share Available for UK LTD company formation:||Shares with or without voting rights, redeemable shares, registered shares, preference shares, deferred shares|
|Bearer Shares:||Not Allowed|
|Registered Office Required:||Yes, required and must be maintained in the UK|
|Shareholders:||Minimum number is one. Can be any nationality and need not be resident of the UK.|
|Directors:||Minimum number is one. Can be any nationality and need not be resident of the UK.|
|Your Company language:||English|
|Name of your Company must be ended:||Ltd, Limited|
|Documents required for UK LTD company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|UK Private Limited Company Formation||Restrictions|
|For UK LTD company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||None|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|UK Private Limited Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||Yes public register of company officers (Directors, Shareholders, Secretary)|
|Nominee Shareholders and Nominee Directors:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||No|
|Meetings of Directors and Shareholders to be held:||Anywhere|
|Stability:||Fantastic jurisdiction and highly regarded reputation.|
|About United Kingdom|
|Political System:||Parliamentary Democracy|
|Governing corporate legislation:||Companies Act 2006 as amended|
|Type of Law:||Common|
|Currency:||Great British Pound (GBP)|
|Language of Legislation and Corporate Documents:||English|
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.