Can A Non-UK Resident Form A Private Limited Company?
Doing business in the UK is a great option. You have access to one of the leading world markets. Unlike some other countries, you have the same rights as any company owned by a UK national. The best way to form a private limited company in the UK is to do it through a formation agent. They help you compile the documents required to set up a limited company and help you avoid some of the biggest mistakes with trying to form a limited company.
This guide shows you everything you need to know about how a non-resident can set up a private limited company in the United Kingdom.
Can a Non-UK Resident Open a Private Limited Company?
Yes, the process is much the same for non-UK nationals as it is for UK nationals. You have to register your company with the authorities. With a suitable agent helping you, your company can be up and running in 24 hours.
The difficulties foreigners can experience are usually when dealing with banks, but even those aren’t impossible challenged with the right support and some due diligence.
Why Should You Open a Company in the UK?
Deciding to move your registered office address to a UK address is a big step. But it gives you access to some key benefits.
First, your company will become part of an economy that is one of the strongest in the world. It’s growing faster than Germany and is the second biggest economy in Europe. The UK is also one of the most stable economies, due to the underlying strength of the pound.
Opening a company in the United Kingdom also gives you access to the European common market which is one of the largest trading blocs in the world. At the same time, you are not constrained by EU laws, as the UK has maintained its sovereignty in that area.
What Do You Need to Get Started?
Your company can be registered either in the jurisdiction of England and Wales, Scotland, or Northern Ireland. The rules are the same regardless of where you open your company. It will be dictated by your registered office address. There is nothing preventing you from operating out of multiple locations across the UK.
To create a company, you will have to nominate at least one company director and at least one shareholder. Both be fulfilled by the same person. You have a choice as to how many people you appoint as directors and shareholders. When you set up the company, you will apportion a certain number of shares to each person, which dictates the amount of the company each person owns.
Finally, you need to have a registered office address – and this must already be in place. It can either be a residential or a commercial address and can be changed at any time once the company has been formed.
Open A UK Company Today
Another advantage of forming a company in the UK is that you are able to set up the company through an online portal. A formation agent can assist you in doing this and understanding any complicated terms. They will be able to get your application forms submitted in a few hours.
You will receive the verdict on your application usually within 24 hours. Once accepted, you have everything you need to begin doing business in the UK, and you will be able to apply to open a UK bank account.
The UK is a strong market with a relatively straightforward company incorporation system that allows you to operate just as you would in your home country.
Contact a formations agent today in order to make sure that everything is done right and the process is done quickly!