Incorporation documents package
Apostilled set of documents
Good offer England LTD PRO
United Kingdom of Great Britain and Northern Ireland – is one of the largest states of Western Europe, and its capital London is the world`s third largest financial and business center. Many foreign investors are attracted not only the optimization of taxation and absolute confidentiality that provide classic tax havens. No less important is company business reputation, which largely depends on the place of its registration. The offshore England, along with the variety of forms of business, also provides vide opportunities for tax planning.
As offshore zone, the UK is attractive for foreign businesses for many reasons:
- Economic and political stability of the state;
- Reputation of respectable jurisdiction;
- Opportunity to enter the European and world market;
- The image of prestigious European company, enjoying the confidence of the partners.
British companies are often used as a component of holding structure, as agency company in the management of international trade activities, intermediary company when paying royalties and copyrights, as partnerships.
The type of activity for foreign companies is very wide: it is all non-prohibited areas of business not requiring additional licensing (such as banking, insurance, and reinsurance activity). Great potential investments have such business areas as providing of various services: car service, cosmetology, houses and adjacent territory services, different types of home care, leisure and tourist services. Thus, offshore England is attractive for many reasons:
- The ability to make business with countries belonging to the classical offshore;
- The process of new company registration or purchasing ready-made one is not expensive, easy and fast;
- Lack of foreign exchange controls;
- No residency requirements for directors and shareholders;
- A high degree of asset protection, guaranteed by the British legislation;
Companies House deals with business activity regulation at the state level, which also coordinates company registration and liquidation, checks and stores information about the companies and provides data for public access.
One can open such company forms in offshore England:
- Branch of foreign company.
Companies can be:
- Company limited by shares;
- Company limited by guarantee;
- Unlimited company;
- Community interest company.
Limited Liability Companies can be private (Private limited company, Ltd) or public (Public limited company, Plc). The essential difference between them lies in the fact that a public company`s shares are subject to open sale and quotation on the stock exchange.
The most popular types of business are limited liability company (Ltd), and limited liability partnerships (LLP), which accounted more than 85% of foreign companies.
To open limited liability company it must be at least one director and shareholder (except public company where you need 2 directors and shareholders) without restrictions residence. Director can be just private person who has reached the age of 16, and with nominal corporate director it is required to appoint another director – private person. Secretary is not obligatory.
Upon Ltd registration the amount of authorized capital is £ 1000, and the amount of paid capital – is £ 1 (for a public company required size of authorized capital – is £ 50,000, quarter of which must be paid at the time of registration).
For Ltd there are certain requirements for annual reports, the timing of which are determined by the date of company registration, not the end of calendar year. Annual Return, which contains information about the company and Annual Accounts, which contains financial statements, information about profits and losses with explanations are submitted to the Companies Register. In addition, Annual Tax Return is required to filing, which is a tax statement of the company`s profits and taxes paid. For newly created Ltd, annual report submission is required after 18 months from the date of registration.
The small companies (if they are not public and do not have a license to conduct banking and insurance activities), non-active companies and non-profit organizations are free from audit report. The small company has annual turnover that does not exceed £ 5,6 mill and total annual balance is less than £ 2.8 mill.
Corporate income tax is charged at 20% - 25%. The small company can claims on the minimum rate with annual income not above £ 300 000. Withholding tax rate ranges from 10% to 37.5% and can be significantly reduced thanks to Treaty on Avoiding Dual Taxation, EU Directives “About parent and subsidiary companies” and “About royalties and percentage” that are signed with more than 140 countries. The standard VAT rate is 20% and can be reduced to 0%.
For the partnership establishment one need two or more partners who signed Founders Agreement, registered at Companies House. There are no requirements for paid up capital. Limited partnership (LP) opening needs the existence of one partner with unlimited liability, which is responsible for all liabilities of the company. Limited Liability Partnership (LLP) means partners presence who are liable for the firm’s debts and obligations within predetermined amount for each.
Partnerships are not subject of taxation in UK, and the partners pay taxes from business income in proportion to the participation of their residence. Thus, if the partners – private or legal persons are not registered in offshore, the company is almost tax-free.
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