Registration of a prestigious company in England: where to start?
Many businesspeople seek to buy a company in England, as the jurisdiction is one of the world's financial centers. LLP is the most popular option in the country, but it is possible to create a firm in other forms, each with its own features.
At the legislative level, the country provides standard rates of taxation. At the same time, the registration of partnerships in the country provides for zero rates. This is the main advantage of opening an LLP. Since the company does not operate within the UK, it will not have resident status. You can learn more about the features of the company from our experts at IT-OFFSHORE.
Opening a company in the UK
Establishing a firm in the UK allows you to do business in one of the most developed countries in the world. The economy of the country does not depend on the decisions of the European Union, and the national currency is one of the most stable in the world.
You can't open an offshore business in England. The procedure for establishing a company in the country is relatively simple. What forms are available for setting up a company:
- A private company with unlimited liability;
- A branch of a foreign company;
- Self-employed person.
You can buy a ready-made company that has been operating for several years, has a legal address, as well as the required number of participants in the founders, nominee directors, and secretaries.
The main conditions for the establishment of the company
Before registering a company in England, it is recommended that you familiarize yourself with the basic conditions for its establishment. There are some requirements for the founders. They must be at least 16 years old. The director of a firm cannot be a legal person. Before setting up a company, at least three different names must be provided, indicating the legal form of the company.
Copies of the director's passport, full name, date of birth and address of the director and the same information about all other participants must be collected. The size of the share capital must be specified. The company has to have an office in the UK in order to be registered.
The advantages of establishing a company
This country is prestigious. By creating a company in the UK, you can ensure the confidentiality of personal information by using a nominal service. LLP is subject to zero tax charges, and some requirements may be waived for audits.
There is no currency control and reports must be submitted on time. The legislation is stable, the banking and economic system is highly developed. Reporting can be submitted once a year in electronic form, there are no requirements for the appointment of a local director.
Taxes and reporting
When opening a company, tax rates should be taken into account. The rate of corporate taxation is 19%, VAT - 20%, taxation of profits for individuals can reach up to 45%.
The financial report is submitted every year in electronic form. Regardless of whether the company carries out financial activities or not, reports must be submitted regularly. Failure to comply with the deadlines may result in sanctions.