Business Registration in Great Britain
How to open a business in United Kingdom
The United Kingdom is a tasty morsel for entrepreneurs from all over the world. A huge metropole and transparent legal norms allowed to take the leading position among the largest manufacturers and merchants of goods. According to the Doing Jones rating, Great Britain is in the top-10 for simplicity of doing business and GDP per capita.
Business in Great Britain
Any foreigner can carry out business in England. Citizens of the European Union and Switzerland receive equal rights with local businessmen.
To create a business in the United Kingdom, you need to meet several simple criteria:
- Age (not younger than 16 y.o.),
- Availability of financial resources,
- Business plan,
- Absence of a criminal record.
The following forms of business are distinguished:
- Individual entrepreneur:
- The owner manages, works by himself and hires the rest of the staff. He is responsible for obligations with all of his property. He determines the tax rate.
- Company with liability limited by:
- Shares. The amount is segregated by the funds paid upon the acquisition of securities.
- Guarantee. Depends on the size of the warranty obligations.
- Unlimited liability. Nothing is limited.
- Open type. Securities are offered for sale to a general public.
- Partnership.
- With limited liability. Formed by two or more individuals or legal entities. They pay taxes from their taxes and are not personally responsible for the company's obligations.
- Limited. One general partner and at least one partner with limited liability are required. Possess different possibilities.
Registration of business in Great Btitain
Institute of entrepreneurship is very developed in the United Kingdom of Great Britain and Northern Ireland and its member states. These issues, depending on the place of actual registration, are handled by special territorial registers.
Registration of business in the United Kingdom is carried out with the help of agents specializing in such matters, who prepare all the necessary documentation. Subsequently, if necessary, they can also submit them to the appropriate authorities for registration.
Small business in the United Kingdom is opened through the Internet, since this is the cheapest and fastest way. A huge number of financial programs have been introduced to support medium and small businesses.
The procedure for registering a business in the United Kingdom is quite simple. 4 actions are to be carried out:
- Apply to the registrar,
- Register with the tax and customs authorities,
- If you have employees, apply for insurance policies,
- If necessary, purchase a license for some activities .
The advantage of entrepreneurial activity in the territory of Foggy Albion is undeniable:
- Fast and cheap foundation,
- Fiscal benefits,
- Programs for a start-up,
- Simplified accounting system,
- Strong and versatile legal support,
- Possibility to obtain citizenship.
Important information: tax returns must be submitted before January 31 of the year following the reporting year. The reporting period is determined individually, depending on the date of registration.
We specialize in opening companies in all corners of the world. It is important for us to help the client understand all the intricacies of creating a business, whether it is a small business in the United Kingdom, or a affiliated company of a large firm at all stages. Contact our specialists for expert advice. We will do all the work for you.
Please, select organizational and legal form of the company You are interested in:
For reference:
Limited Partnership (LP) (also referred to as limited liability partnership, partnership in commendam, special partnership) is association of natural persons and / or legal entities in order to establish commercial undertaking, including at least one partner with full responsibility and at least one limited partner (responsible for the obligations of the enterprise only within its share in the charter capital). It consists of the main partners managing business activities of the partnership and bearing full responsibility for the debts owed to creditors, and the limited partners who do not actively participate in the management of the partnership and are responsible for its debts only within the amount of the contribution to the authorized capital of the partnership.
Limited Liability Partnership (LLP) is legal form of business activity, characterized by all the peculiarities of the partnership, but it differs from the latter by the fact that the partners are responsible for the obligations of the partnership only to the extent of their contributions; ordinary partnership may become limited liability partnership by filling in statement of compliance with the set requirements; in the UK, this organizational form exists since 2002. This form of business nearly corresponds to the Russian limited liability company (LLC).
Private (Limited) Company (Ltd) is private, closed (joint-stock) company. Number of shareholders is limited, and shares are not traded on the stock market. The company has no right to declare public subscription for shares, and the shareholder has no right to transfer shares of the company to third party without the consent of other shareholders. The translation into Russian language can be referred to as "Private Joint Stock Company (PJSC)".
