Uk Company formation for non resident
30 May, 2021
Is it possible to form uk company as non resident?
Let’see…
Today we are talking about just one of the most frequent doubts relating to the establishment of a ltd company in the UK.
Can a non-resident person in England set up a ltd company?
Answer: A non-resident person (such as a director or shareholder) can register and manage a company in the UK, by opening an English current account, from anywhere in the world, even if they do not live in the UK. The procedure for setting up a ltd company can be done completely online and usually the registration of the new company is done within a few hours.
Therefore, the Uk company formation of a Ltd in the United Kingdom with an English bank account can also be carried out by those who are not resident in the UK and by individuals who do not have English citizenship.
The procedure and legal requirements for opening a company in the UK are exactly the same for everyone, regardless of the country they live in.
So, the non resident uk company formation process is the same expected for UK resident citizens.
For the registration of a new company in England and Wales, Scotland or Northern Ireland, the Companies House is competent, that is, a kind of British Companies Register.
For the formation of a ltd in the UK, at least one director (director) and one shareholder (shareholder) are required, which can also be the same person.
In short, the same person can be both shareholder and director of the ltd, but it is also possible to create a company in England with different directors and shareholders, even if one of the two (or both) is not resident in the United Kingdom.
At the time of incorporation of the company in the UK, it will be necessary to indicate an address of an office where the registered office of the ltd will be located. This will be your official UK company address and must necessarily be located in the same UK jurisdiction in which your new company is incorporated.
(Note: the lemma “incorporate a ltd” does not represent a technical terminology, but is used to translate the word “incorporation”, used in the United Kingdom to refer to the process of setting up a ltd).
There are two different ways to incorporate a UK limited liability company:
Online through a specialized agency.
Online or by mail through the Companies House website.
The quickest and easiest way to form a company in the UK is to use a specialized agency.
We have already written an article in which we explain why it is convenient to contact a specialized agency: Opening a ltd in London: online procedure.
The main reasons why clients rely on specialized consulting firms, like ours, are:
the constitution is quick and error-free;
a registered office is assigned;
you have a virtual office and mail forwarding service;
you receive the guarantee of opening a bank account in England.
you receive the bookkeeping service (annual accounting management and balance sheet) with assistance in Italian, without having to stress in the search for an English accountant.
Typically, requests to set up new businesses are approved in just 3-6 business hours precisely because everything is handled online. There is therefore no need to travel to the UK, no need to talk to someone on the phone, send documents or sign any documents in person. You can upload and deliver documents electronically and fill out the appropriate online form to authorize registration.
Here’s what you need to know about UK ltd companies
A ltd company:
It must be registered and incorporated in accordance with the regulatory provisions of the Companies Act 2006 (English law on commercial companies);
It must have a company name that is not “equal to” or “too similar” to the name of an existing company.
It must have its own registered office, which represents the company’s official address. It will be published in a public register that can be consulted online. Official correspondence from Companies House and HMRC (and other government agencies) will be delivered to this address.
Furthermore:
Limited Liability Companies in the United Kingdom must comply with the tax deadlines for filing and paying taxes as well as the requirements relating to the publication of company financial statements.
The ltd must register for the purposes of the Corporation Tax with the HMRC (corresponding to a sort of English Revenue Agency) within 3 months of the first purchase / sale transaction.
Directors (directors) who reside abroad are legally required to fulfill the same obligations and responsibilities as British directors.
The fundamental corporate data and information (for example: assets and liabilities) of the company can be consulted on a public register, where all the information on the directors, shareholders, secretaries and beneficial owners (PSC) is also recorded.
Here’s what you need to know about UK ltd companies
A ltd company:
It must be registered and incorporated in accordance with the regulatory provisions of the Companies Act 2006 (English law on commercial companies);
It must have a company name that is not “equal to” or “too similar” to the name of an existing company.
It must have its own registered office, which represents the company’s official address. It will be published in a public register that can be consulted online. Official correspondence from Companies House and HMRC (and other government agencies) will be delivered to this address.
Furthermore:
Limited Liability Companies in the United Kingdom must comply with the tax deadlines for filing and paying taxes as well as the requirements relating to the publication of company financial statements.
The ltd must register for the purposes of the Corporation Tax with the HMRC (corresponding to a sort of English Revenue Agency) within 3 months of the first purchase / sale transaction.
Directors (directors) who reside abroad are legally required to fulfill the same obligations and responsibilities as British directors.
The fundamental corporate data and information (for example: assets and liabilities) of the company can be consulted on a public register, where all the information on the directors, shareholders, secretaries and beneficial owners (PSC) is also recorded.
Each director, secretary, shareholder must provide a service address to Companies House. This address can be located anywhere in the world and will be used for the delivery of postal correspondence.
The ltd should have a current account in England or the UK. However, without the support of a specialized agency it is not easy to open a bank account for a ltd company.
Here is our package for non-resident director with bank account opening in England
Our non-resident company formation package has been designed to make the process of setting up a company as easy as possible for those living outside the UK.
Among other things, we offer non-residents the guarantee of opening a bank account in England.
Specifically, the package can be purchased together with the accounting and budget management service and includes the following:
- Incorporation of the Company (Private Company Limited by Share)
- Tax included for registration of Company House / Register of Companies
- Keeping company books
- Certificate of incorporation
- Deed of incorporation and statute
- Stock certificates
- Models and legal contracts
- Annual tax return
- Accounting and budget
- Domiciliation at a registered office
- Virtual office
- Correspondence forwarding service
- Translation and certification of incorporation documents
- Online current account opening
- Online assistance from an Italian Company Manager
- Price of our non-resident director package
The virtual office will allow you to manage your company online at any time. It is possible to view and update company details, report changes to Companies House as well as upload active and passive invoices, credit notes and bank statements, to allow our bookeepers to manage company accounting completely in the cloud.
Before concluding this discussion, we provide you with some important tax information on ltd companies in the UK.
TAX INFORMATION ABOUT UK COMPANY INCORPORATION
The ltd company is subject to the Corporate Tax at a rate of 19%.
Up to approximately 100,000 euros (86,000 pounds) of annual turnover, there is no VAT.
Sales transactions carried out with entities / companies located in EU countries are not taxable for VAT purposes (by virtue of the reverse charge).
There are no chamber rights, tax advances, notary fees, registration taxes and / or other indirect taxes.
The administrator’s social security contributions are optional (not mandatory).
If you are interested in purchasing this package, please contact us through the appropriate Contact page.
One reply on “Uk Company formation for non resident”
hi,
I’m Belgian. If I purchase a non resident formation package for a ltd company, will I have to come to the UK for opening the UK bank account ?