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The UK acts as the perfect destination for non-residents to set up their company here. Being home to 66 million people and providing equidistant access to the markets in the USA and Asia, the UK is thriving as a financial center.
If you are a non-resident and looking forward to setting up a UK company, you need comprehensive guidance on the procedure involved. Doing it from the home country can seem like an impossible task, but you can easily achieve it when teamed with trusted partners like Flying Colour.
Here are the steps you need to know to set up a UK business start-up.
Before you start registering the UK business start-up, you need to decide the structure of the company for foreign investors in the UK. Following are the types of companies that a non-resident can set up in the UK:
A private limited company is a legal entity and is the most popular type of company among foreign investors. This particular company requires at least one shareholder, one director, and a company secretary. There is no minimum limit when it comes to capital, and accounts are to be filed on a yearly basis.
The public limited company offers its shares to the public, which further makes its capital structure larger. This particular company requires at least two directors and a company secretary. The minimum share capital that can be issued by Plc is £50,000, out of which at least 25% of the share capital must be paid up. If the turnover exceeds £1 million, the company is required to get its financial statements audited.
The limited liability partnership is considered suitable for joint ventures. This company structure falls between a traditional partnership and a limited company. When it comes to requirements, the LLPs require a minimum of two members having limited liability. The registration and disclosure requirements are the same as a limited company.
Now that you know about different types of company structures, it’s time to determine the one suiting your business requirements. Next, you need to learn the steps to be followed to register a UK business start-up.
You should consider giving some time for registration of corporation tax. This is because a Unique Tax Reference is to be posted to the registered office address before completion of the UK company registration process. Also, you can register for VAT (Value Addition Tax).
The complete procedure might seem time-consuming and exhausting, so getting help from professional immigration advisors can make it easy to set up a UK business start-up from distant shores. Flying Colour is teamed up with experts guiding non-residents to start a business in the UK. We have helped many businesses to set up and manage operations in the UK. Connect with us for details!
Interested in pursuing an L-1A visa for yourself or an employee? Let us help! Our experienced staff and immigration attorneys know exactly how to manage an L-1 visa case. For a consultation, call +971 4 4542366 or email us at firstname.lastname@example.org.
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