The UK Company Formation for Non-Residents: How to get started
The United Kingdom is a leading economy in the world, known for its strong education system, robust employment opportunities, and impressive progress in various industries. This makes it an attractive destination for individuals and businesses from other countries looking to establish a presence in the UK.
However, starting a company in the UK as a non-resident can be a daunting task. Fortunately, there are many business consultant service providers such as the Business Globalizer that can assist non-residents in navigating the process and making it as seamless as possible, without the need for a physical presence in the UK.
In this guide, we will explore the steps and requirements for the UK company formation as a non-resident, and discuss how to get started with the process from the comfort of your home country.
So, let’s get started!
Registering With a Valid Name
The first step toward running a business in the UK is to choose a name for your business that:
- Is available (does not match with an existing business)
- Does not promote or present anything offensive, sensitive, or illegal
- Ends with Ltd. or Limited., unless otherwise permitted by the appropriate authority
- May be used as a domain name as well for a business website
If the above rules tick the boxes, you can proceed with the next steps in the formation.
Having a Legal Business Address
The next step in the formation process is registering your business with an address in the UK. Even if you operate from another country, you must have a legally registered office address accepted by the Companies House in the UK.
If you find it complex, Business Globalizer can help you with that.
Forming The Top Management Team:
You need at least one director, aged 16 years or above, to register for a UK business. You also need to submit the details of the appointed director(s) to the Companies House (the registrar of companies in the UK).
Also, you would require at least one shareholder and all their details submitted to the House of Companies. The shareholder may be the director or another person who can issue shares.
Standardizing and Documenting Your Business Formation
To do business in the UK, you must possess a memorandum of association and articles of association.
A memorandum of association is a legal document that outlines the details of your business’s founder(s), along with their purpose for doing business in the UK. The articles of association, on the other hand, represent the standard operating procedures and standard operational rules of your company. You may refer to the prescribed templates of the articles of association the Companies House provides for business owners in the UK and modify them as needed for your business.
These two legal documents assist you to complete your formation and registration with Companies House in the UK.
Applying for Company Formation
Once you have all the requirements and documents fulfilled, you can register entirely online without any physical paperwork or appearance at the Companies House.
You can apply with the help of Business Globalizer and complete the process smoothly, sitting at home and experiencing the process via just a laptop.
Factors to Ensure
If you register as a non-resident in the UK, you need to consider and remember a few factors:
- Even though it is not a legal requirement, you might want to register your business with a bank account in the UK. This helps you avoid certain unseen costs of financial movement or fees of local trade.
- Unless you have a work visa, you will face taxes on whatever you earn from your business. So, as a foreigner doing business (online) in the UK, you cannot earn untaxed income.
- When you register for business in the UK as a non-resident, things can become tricky, if you lack adequate knowledge of the basic legal systems and business practices of the UK. The application process is now relatively straightforward, but starting a business in the UK includes approvals and authorizations from numerous governmental bodies, primarily from the Companies House and the HM Revenue and Customs (HMRC), UK’s tax, payments, and customs authority.Also, if you make a mistake during your registration process, you will face slowdowns and penalties, but you won’t face blacklisting from doing business. Business Globalizer can help you with this, too.
- After opening your UK business, you may want some insurance quickly. This protective measure mitigates the impact of the unstable business landscape of markets in the UK on your business sometimes. Your industry determines the level of impact of the volatility. If you’re new to the UK business systems, we suggest you avail of this option.
Benefits of Registering Your UK Company With Business Globalizer
To help you smoothly set up your business in the UK from the serenity of your home, Business Globalizer provides the much-needed support and guidance you need to form a company in the UK and go global with just a few clicks.
Business Globalizer helps you register for business in the UK by
- Taking care of all the administrative tasks and paperwork involved in the registration process.
- Managing all official documents, including HMRC and other required papers for record-keeping and taxation.
- Offering a fast, online business setup process that can register your firm within a few workdays or sometimes in just 24 hours
- Assisting in setting up a non-resident UK bank account and supporting you in forming a robust financial structure for your business
- Expert consulting on UK tax regulations
- End-to-end support in the forming and running of your business in the UK.
To learn about the affordable and customizable packages of Business Globalizer that have garnered over 100+ clients, check out the packages.
To Sum Up
In conclusion, the United Kingdom offers a wealth of opportunities for businesses looking to expand their reach and establish a presence in a reputable economy. By forming a company in the UK, you can take advantage of the country’s strong legal system, protected intellectual property rights, and increased consumer trust.
Additionally, thanks to firms like Business Globalizer, the process of forming a company in the UK as a non-resident has never been easier, allowing you to complete the process from the comfort of your own home. Don’t miss out on the many benefits of doing business in the UK and take the first step towards expanding your business globally by contacting Business Globalizer today.