UK Company main characteristics:
||Private Limited Company.|
|Governing corporate legislation||UK companies are regulated under the Companies Act 2006. The UK Companies House is the governing authority.|
|Information published relating to company officers||Upon registration of the company, the names of company officers will appear on public record. Nominee officers can be used to avoid the client's name appearing.|
||Accounts and tax filing must be submitted by year-end.|
||A tax rate of 21% applies for profits below £300k. For profits exceeding £300k a bracket applies (see http://www.hmrc.gov.uk/rates/corp.htm for details).|
|Time to form
||The UK has a fast and efficient registry. Company formation can be processed electronically within a day.|
||Very stable jurisdiction with an excellent reputation.|
||Good communication means.|
||Convenient time zone (GMT).|
|Paid up capital requirement
||Minimum share capital: £1.|
|Basis of legal system
||Under Common Law.|
||Minimum of 1 director and 1 shareholder.|
||Bearer shares are not permitted.|
DOCUMENTS REQUIRED FOR THE CREATION OF THE COMPANY
A certified copy of your passport (or identity card), as well as proof of domicile dated less than three months.
General information on UKCompanies set up in the United Kingdom have the advantage of a low tax rate (21%) while still being European and being able to have a VAT number.
UK companies can also be used in tandem with an offshore company to reduce the tax rate to less than 5%. This type of structure is commonly known as an "Agency Company". UK company incorporation can usually be processed same day.