COMPANY FORMATION IN UK

Forming a company in the UK is a simple and quick process, especially for non-residents, who can register a business online in as little as 24 hours. The most common structure for foreign owners is a private limited company (Ltd). Key advantages for foreign entrepreneurs No residency requirement: There are no restrictions on foreign nationals owning or directing UK companies. Minimal capital: A private limited company has no minimum share capital requirement and can be incorporated with as little as £1. Fast and easy setup: The process is largely done online through Companies House or a formation agent. Strong international standing: The UK offers a stable business environment and provides credibility with international clients and investors. Steps for company formation 1. Choose a company name The name must be unique and end with "Limited" or "Ltd." Check for availability using the Companies House company name availability checker. 2. Appoint director(s) and shareholder(s) Director: A private limited company needs at least one director, who can be a non-resident. Directors' names and personal information are publicly available from Companies House. Shareholder: At least one shareholder is required. The same person can act as both the sole director and sole shareholder. Person with significant control (PSC): You must also register anyone who has significant control over the company, such as holding more than 25% of the shares or voting rights. 3. Secure a UK registered office address All UK companies must have a registered office address in the UK for receiving official government mail. Non-residents often use a virtual office or address service provided by a company formation agent. 4. Prepare required documents Essential documents include the Memorandum of Association and Articles of Association, which outline the company's structure and rules. These are automatically provided with online registration. 5. Register with Companies House Registration can be done online through Companies House or via an accredited formation agent, typically taking around 24 hours. 6. Register for Corporation Tax with HMRC Following incorporation, you must register for Corporation Tax with HMRC within three months. 7. Open a business bank account While traditional banks may require in-person visits, non-residents can use fintech companies like Wise for remote account opening. Annual compliance obligations UK limited companies have ongoing obligations, including filing annual accounts and a confirmation statement with Companies House, and a Corporation Tax return with HMRC. Using a company formation agent Formation agents are popular with non-residents as they can provide a registered office address, handle paperwork with Companies House and HMRC, assist with compliance, and offer support with banking.