SETTING UP A COMPANY IN THE UK
FOR NON-UK RESIDENTS
UK Company. UK Company Formation.
Setting up a Company in the UK for Non-UK Residents
KGN specializes in UK Company Formation for Non-UK Residents and opening bank accounts.
General Information
How much does it cost to set up a company in The United Kingdom?
Companies Act 2006, Limited Liability Partnership Act 2000, The Income and Corporation Taxes Act 1988 as amended.
Type of Law
Common.
Language of Legislation and Corporate Documents
English.
Currency
GBP.
Exchange Control
None.
Publicly Accessible Records
Yes.
Personal Presence Required
No.
Types of Company for International Trade, Investment & Tax Planning
Private Limited Company
Limited Liability Partnership
Private Limited Company
Limited Liability Partnership
Private Limited Company
UK Private Limited Company
Share Capital
There is no concept of authorised share capital in the Companies Act 2006. Standard authorised share capital is GBP 100. Minimum paid up share capital is GBP1.
Classes of Share Available
Registered shares, preference shares, deferred shares, redeemable shares and shares with or without voting rights.
Bearer Shares
Not permitted.
Restrictions on Trading
Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.
Registered Office Required
Yes, must be maintained in the UK.
Directors
The minimum number of directors is one. Director can be of any nationality and need not be resident in the UK. Corporate directors are permitted but a company must have at least one director who is an individual.
Shareholders
The minimum number of shareholders is one.
Nominee Shareholders and Nominee Directors
Allowed.
Location of Meetings of Directors and Shareholders
Anywhere.
Taxation
20-26%.
VAT
The standard VAT rate is 20%.
Double Taxation Treaty Access
Yes.
Requirements to File Accounts
Yes.
Requirement to File Annual Return
Yes.
Audit Requirements
Yes, but small company exceptions.
Language of Name
English.
Restricted Words
Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.
Name of a Company
The words “Limited” or “Ltd” must be part of the name of every company.
Time to Incorporate
Two days. A guaranteed sameday incorporation is also available.
UK Company Formation Prices
UK Company Formation Package Includes:
UK Company Name Check
Initial Business Approval
Preparation of Application Documents
Company Registration Fee
Registered Office Address for 1 year
Government filing fee
Certificate of Registration
Memorandum & Articles of Association
Minutes of first meeting appointing the director(s)
Share Certificate(s)
Register of shareholders
Register of directors
Starting at: $1690
Limited Liability Partnership
UK Limited Liability Partnership
Capital
The minimum capital contribution is GBP 2.
Restrictions on Trading
Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.
Registered Office Required
Yes, must be maintained in the UK.
Directors
Not Applicable.
Designated Members
The minimum number of designated members is two (designated members are analogous to the executive directors of a company).
Nominee Designated Members
Allowed.
Location of Meetings of Designated Members
Anywhere.
Taxation
Fiscally Transparent.
Double Taxation Treaty Access
No.
Requirements to File Accounts
Yes.
Requirement to File Annual Return
Yes.
Audit Requirements
Yes, but small company exceptions.
Language of Name
English.
Restricted Words
Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.
Name of a Partnership
The words “Limited Liability Partnership” or “LLP” must be part of the name of every company.
Time to Incorporate
Two days.
UK LLP Formation Prices
UK LLP Registration Package Includes:
Company Name Check
Initial Business Approval
Preparation of Application Documents
Company Registration Fee
Registered Office Address for 1 year
Certificate of LLP Formation
LLP Agreement
Share Certificate(s)
Registers
Starting at: $1690
Why Choose KGN?
We’ve been helping business owners since 1996
Incorporating your business is our focus
We make a complex process fast and easy
We work closely with Companies Registries to guarantee our service
Fastest offshore companies & accounts – Most competitive pricing worldwide
People Also Ask
Can a foreigner set up a company in the UK?
Yes, provided that the correct business visas are obtained for the company owner alongside an approved UK business bank account and that you can register the company with a valid UK office address where your accounting records will be stored.
What are the steps in the formation of a company in the UK?
There are several steps outlined in this article for UK company formation. These include registering the company name, a UK office address, a director for corporate tax, and then at the governing body Companies House after getting your SIC code and preparing official documents and accounting records.
How do I check if a company is registered in the UK?
You can use search engines or search the Companies House directory to check companies that are already registered in the UK before naming your company and then later to verify company set up.
Services offered in the UK
KGN provides the following services in the UK:
UK Company Formation
Registered Office Services
Company Secretarial Services
Nominee Shareholder/Nominee Director
Opening of Bank Accounts
Full Company Administration Services
Mailing Address
Virtual Office
Book Keeping & Audit
VAT Registration
EORI Registration
Trademark Registration
All You Need to Know About Company Formation in The UK
Starting your own company for the first time can be confusing. It’s common to feel intimidated by the complex process and what feels like endless paperwork filled with convoluted legal jargon. It can all sound a bit like a foreign language – and that might literally be the case for some of you from abroad thinking of setting up a company in the UK! But fear not, this article will give you the essential details of how company formation in the UK works and how to set one up as a non-UK resident.
Can a Non-UK Resident Form a UK Limited Company?
The first sensible question to ask is if you are legally allowed to set up a UK company as a non-UK resident. The answer is yes. In fact, there are thousands of active companies in the UK that are foreign-owned, most of which have European directors. However, this may change after Brexit. The good news is that even after the withdrawal agreement came into effect, there were no significant alterations to the process itself regarding UK company formation for non-residents. Non-UK residents who were eligible to start a UK company before Brexit are still eligible after the UK left the EU, provided they fit the criteria for a relevant UK business visa.
Research Regulatory and Tax Systems
It is vital to fully understand all relevant regulatory laws and tax systems related to the company you wish to start. There will be some variations depending on the type of company you are planning to set up, so make sure you read the information pertaining to your business and its specific operations.
It is also necessary to consider how new Brexit changes will affect your business. This is especially pertinent to companies dealing with importing and exporting to EU countries or which have employees from the EU. For the most accurate and up-to-date information about how this may affect you and your company, visit GOV.uk. Alternatively, go to this page and fill in the questionnaire with details on your business.
KGN | UK Company Formation