- Vidit Agarwal
- October 16, 2023
A Company Formation in the UK for non-residents can be an outstanding opportunity because the UK market is economically strong in the European region. Establishing your own company in the UK could be hard for a non-resident because of several steps. On the other hand, it is possible with some effort.
Why Choose the UK for Company Formation?
People prefer to start their business in the UK because of the economic strength in the market. Also, the UK invites small or large-scale industries to expand their business with several opportunities. Here are the reasons why non-residents choose the UK for company formation.
- The strong economy offers access to an extensive customer market with several opportunities.
- The UK legal system is well established and transparent, which attracts business holders to expand in the UK.
- You can get skilled and talented professionals here because of having world-class universities.
- You can get easy access to the European market.
Is it easy for non-UK residents to form a UK-limited company?
Yes, the company formation process for non-UK residents is as easy as for UK residents. There are no guidelines that you have to stay in the UK. You can directly apply online or hire company formation consultants. Leadfoce works as a consultant to minimize your involvement in the company formation process so that you can pay attention to other tasks. Leadforce provides ongoing support to establish a UK-limited company for you. The non-resident company formation process includes steps. You will have to follow the legal procedures and regulations also.
Also See: Open a non-resident UK bank account
The Process of Company Formation in the UK
Non-residents must follow these steps. While the procedure may seem complex, Leadforce makes it possible without facing any hurdles.
- A business structure is required to be chosen first. The business structure should be according to the business requirements.
- Select a company name that should not be identical or similar to the company already registered in Companies House. You can check the availability on the Companies House website.
- A registered office address is needed here for official purposes. You can use a UK address and any address of your friend in the UK. You can also take the service of a registered office service provider.
- Directors and shareholders are required to appoint. There can be more than one.
- File a Memorandum and Articles of Association to establish the company's constitution and rules.
- Your details of your current country residence and other documentation need to be submitted.
- Submit your registration form to the Companies House either online or by mail.
- After your application approval, Companies House will issue a CRN (Company Registration Number) for your newly formed company.
- Also, register for the required taxes like Value Added Tax (VAT), and Corporation Tax with HMRC.
- Now, a business bank account needs to be open to manage business-related financial activities. It can also be done by UK consultants who provide non-resident UK bank account opening services. You can connect with Leadforce for your bank account.
- Comply with legal obligations such as filing annual accounts and UK tax requirements.
Also See: UK Ready Made Companies for Sale
Forming a UK company as a non-resident might seem daunting, but with the right information and support, it can be a smooth process. Expand your business into the European market and reap the benefits of the UK's thriving economy.
