The influx of foreign investment, diverse immigration and the presence of big multinational companies have made the United Kingdom what it is today – a leading international financial services hub. The UK is ranked consistently as one of the most productive places for innovative firms in the world. In fact, more overseas companies set up their European headquarters in the UK than anywhere else. Over the last decade, the British government has aided in nurturing the growing ecosystem of start-up companies giving them real value and opportunities to expand globally.
UK Company Formation – Country Highlights
|CURRENCY: £ British Pound||LANGUAGES: English|
|TIME ZONE: UTC+00:00||APPLICABLE LAW: Companies Act, 2006|
|INTERNATIONAL ORGANIZATIONS: G8, Commonwealth of Nations, OECD, WTO||POPULATION: 66 million+|
Legal Basis of UK company Formation
UK companies are incorporated in terms of Chapter 46 of the UK Companies Act, 2006 which is the main piece of legislation governing company law in the UK.
A UK company may be unlimited or may limit liability by shares or by a guarantee. One may also opt to set up a UK Branch Office or a UK Representative Office of a foreign company.
The private limited liability company is the most popular structure for doing business in and out of the UK.
Benefits of setting up a company in UK
- Fast incorporation – 1 day
- Cost effective setup and maintenance
- Business friendly jurisdiction
- Attractive corporate taxation
- Option of 100% foreign ownership
UK Company Formation – Eligibility
- Registered address in the UK
- Minimum of 1 individual director
- No minimum share capital
- Registration with the Companies House
- Annual accounts