The UK is a jurisdiction with a reputation for doing business with all countries that traditionally adhere to anti-offshore policies. The UK is rapidly gaining popularity among business representatives due to its comfortable business climate. Several organizational and legal forms of companies, the absence of requirements for the authorized capital, support of investors from the state and a high level of reliability - all this attracts entrepreneurs planning to open their business here.
Features of jurisdiction
- Not offshore;
- It is not included in the transfer pricing list and is not included in any of the "black lists";
- Fast registration of companies through the Companies House service;
- There are no residency requirements for company members;
- Ideal for small and medium businesses.
Company types
Among the possible organizational and legal forms, the most popular are Private Company Limited by Shares, or "LTD" (an analogue of a Ukrainian LLC), a limited liability partnership - Limited Liability Partnership (LLP), a limited partnership, or Limited Partnership (LP). According to local legislation, companies in the form of partnerships are not taxable and are exempt from corporate tax, which makes them the most demanded in the business environment. This rule applies only to non-residents who conduct business outside the jurisdiction. Partners pay taxes at their place of residence.
Company registration procedure
To register a company in the UK, you must provide:
- several variants of the name for verification;
- documents for partners and beneficiary (if these are Limited Partnerships (LP) and Limited Liability Partnerships (LLP);
- a package of documents for shareholders, directors and beneficiary (if it is a Private Company Limited by Shares (LTD). The package of documents consists of:
- civil passport, driver's license or foreign passport;
- confirmed residential address;
- information about the proposed type of activity of the company and the geography of the business.