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Company and bank account in the UK online

How to open a company and a bank account in the UK online

2020-12-23
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There are some peculiarities of opening a company and a bank account in the UK online. In the country, you can buy a ready-made company in England or register a company from scratch. To clarify the nuances of creating a business, contact our experts at IT-OFFSHORE, we can help you find answers to your questions.

The advantages of creating a business in the UK

It is advantageous to open a company and a bank account in the UK. The country is reputable and has authority in world politics and the economy. Nominee service is legally allowed. LLP-type companies can get some tax breaks.

The legislation of the country is stable and predictable, the banking system is developed. Favorable conditions for business are created, it is easy enough to open a firm.

Nuances of business registration

Registering a company in the UK has some peculiarities. Beforehand it is required to create a name for the company and check its uniqueness. It is required to determine the activity codes of the firm, appoint a director and a company secretary.

The share capital must be established and shareholders selected. It is possible to start your own business in Great Britain remotely. If the person does not actually reside in the country, there is the possibility of using nominee service.

There are several basic legal forms that can be opened in the country. The main ones are:

  • LP;
  • LLP;
  • LTD.

In addition, it is possible to register a branch of a foreign company, to open a private firm with unlimited liability, or to become self-employed. Registering a company in these entities is relatively simple. It is important to comply with the legal requirements when opening a company.

Only persons who have reached the age of 16 years may become the founders. Only an individual may take the position of a director. When submitting an application, at least three versions of the company’s name must be provided. When registering a business, the director and founders must provide identification documents. A physical office in the country is required.

Nuances of creating an account

In order to run a full-fledged business, it is necessary to open a bank account in the UK. All banks in this country conduct operations thorough checks on the organization.

It is important for the bank to make sure that the company actually exists and does not commit illegal activities. What documents may be required to set up an account:

  • Identity information;
  • Details of the company's operations;
  • Information on the projected cash turnover;
  • Data confirming the legality of payments.

There are 5 most popular banks where you can open an account - these include Barclays Bank, HSBC, Standard Chartered, Lloyds Banking Group, Royal Bank of Scotland.

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