Europe Emirates Group can help you start your business in United Kingdom
Company formation in the UK offers three distinct models including:
- Private limited company (Ltd.)
- Limited liability partnership (LLP)
- Public limited liability company (PLC)
In the UK, company formation can be undertaken within 24 hours. Neither director nor shareholders need to be UK residents.
The Ltd. company model requires one person to incorporate and only a single director and shareholder are required for formation. UK law also permits shareholders to be corporate entities.
The primary advantage of this type of UK company formation is that the limited nature of the company protects shareholders in the event that there is a business failure or that debts are incurred. The UK will also provide protection for a corporate name. Once the Registrar of Companies accepts a name, no other businesses may use it.
Restrictions include not using names that imply any connection with the government or using names that imply connections with existing institutions. The UK also requires that there be a registered local office.
A limited liability partnership organisation doesn’t require shareholders. The benefits of this type of incorporation include broader flexibility than a private limited company and no director requirement, as well as good liability limitations. Unlike a private limited company, a limited liability partnership doesn’t entail memorandum or articles of association. It also has no restrictions on owning and holding property.
A VAT number is not automatically given to a UK company and is required if business is to be conducted within the country.
The UK is party to several tax treaties and, if there is a tax treaty between the nation in which the business does the most economic activity and the UK, the terms of the treaty will apply. If the company is currently paying taxes in a different company, it will be considered a UK tax resident. In some cases, where there is no tax treaty, the UK unilaterally offers double tax relief to the company.