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Company Incorporation in United Kingdom - An Overview
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 the UK
The regulatory and legal requirements for starting a business in the United Kingdom have become much easier in the past few years. Whether you are registering a new company or filing your Income Tax Return through the color-coded online, the barriers that existed earlier are getting lower steadily. 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 a number of financial schemes that offer sizable tax benefits to the owners and employees of companies. These schemes are also extended to smart investors. Upon selling a company, you can claim Entrepreneurs Relief up to 10 million pounds. Investors can also claim tax credits up to £150,000 against their investments in any given 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.
Company registration for non-UK residents
The registration procedure for non-UK residents is very much similar as for residents living in the UK. There are no restrictions on foreigners being a director, shareholder, or secretary. You even need not have to live in the UK for starting a company. But your company must be registered with Companies House in England and Wales, Scotland or Northern Ireland (depending on the location of the company).
