Setting up a company in the UK costs from €800 + VAT.
What do you need to know before opening a company in England?
Why start a business in England?
The UK’s innovation culture is unique, as it is recognised as a world-leading business and entrepreneurial hub. In addition to a booming financial and business services sector, the UK has grown 72 ‘unicorn’ companies, i.e. start-ups valued at more than $1 billion, over the past 20 years. This is the fourth highest number of such companies created in any country in the world. The UK continues to produce world-leading companies in industries as diverse as financial technology, renewable energy and education. As the UK’s global entrepreneurial ambitions have strengthened post-Brexit, it is likely that the UK’s reputation as a global business magnet will only increase.
To become a company director, a non-resident must fill in a B permit application (valid for 5 years) and submit a business plan (which our specialists can help you prepare). There are two ways to start a business in Switzerland. One option is to set up a company, the other is to operate as a sole trader or as a group of independent people in partnership.
Currently, different types of business forms can be set up in England:
– Limited liability company (tuntud ka kui Limited või lihtsalt Ltd)
It is an ideal choice for individuals looking to start a business in the UK. Everything, including the company’s bank accounts, assets and operations, is segregated from the interests and liabilities of shareholders.
– Limited company
The limited liability company can borrow money, buy real estate and enter into various contracts. The main difference between setting up this type of company in Estonia and the UK is that in the UK the minimum share capital required is only GBP 1, whereas its counterpart requires EUR 2 500. This possibility alone makes setting up a company abroad a cheaper option.
– Public limited company
It is also worth mentioning public limited companies. This type of company is mostly recommended for large companies entering a new market. These types of companies offer their shares to the public, thus raising more capital. The shares are traded on the stock exchange. It is also important to note that the company must have a capital of at least GBP 50 000 before the shares can be sold to the public, which is a typical structure for a larger, established company.
How is a company set up in England?
Registering a business in England is more convenient than ever – once selected, we offer our services to clients remotely, with professionals sending all the documents. The registration itself usually takes 1-3 days.
The prospective entrepreneur will receive a questionnaire and a list of documents to fill in. We will contact the notary and, if necessary, ask you for further details.
There is no minimum requirement – you can start from 1GBP.
Setting up a company in England involves several types of taxes:
Income tax – 19%
Isiklike toetuste maksustamine: Kuni 12,570 GBP – 0%
12,571 GBP – 50,270 GBP – 20%
50,271 GBP – 150,000 GBP – 40%
Üle 150 000 GBP – 45%
Ease of doing business, thriving economy, simple tax system, abundance of skilled workers, etc.
LCPC aims to provide you and your business with high quality assistance. Setting up a company is one of the first steps in building your business and we will help you on this journey together!
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