For the last 200 years, Britain has been a prosperous country with its last civil war at 1645. It was last conquered at 1066. This history is its basis for a stable economy and open legal system.
Forming a company in the UK is easier than in other European countries because of its strong foundations and its smooth regulations for its rules.
A company in the UK will benefit greatly from its profitable environment.
Outline of the United Kingdom
The United Kingdom is a sovereign state located off the northwestern coast of continental Europe. The UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel and the Irish Sea. The largest island, Great Britain, is linked to France by the Channel Tunnel.
Note that conducting business within the UK´s islands are not considered offshore activities.
Merits of a UK Company
The UK´s stable economy and rules are very ideal in conducting a business. It is the gate to the European market as well as its own respected local market. Doing business with countries in the European Union is made easier when conducting it through a UK company.
It is a cost-effective endeavor:
- Low corporate tax:
19% tax on company profits and 17% VAT. Companies with an annual turnover below 61,000 pounds (US $90,000) are not obliged to register or pay for VAT. - Director(s) nominee available.
- Shareholder(s) nominee available.
- Only one director and one shareholder are required.
- Banking details are kept confidential.
- 100% foreign ownership of the company.
- No minimum capital required.
- Acquisition of a EU VAT number.
Price: 1590.00 EUR (2380.07 CAD)
Courier fee: 70EUR (104.78 CAD)
Incorporation Package
Our company formation package in the UK includes:
- Research and reservation of the company name
- Certificate of Incorporation
- Memorandum and Articles (2 copies)
- Full registration of directors
- Individual allotment of shares
- Share Certificates for each shareholder
- First Board Meeting Minutes
- Registered office and agent fees for the first year
- Oobac-provided secretary
- Completion of initial notification forms for Inland Revenue
UK Company and Business Tools
Having a UK incorporated company gives the added advantage of being able to use business resources throughout the European Union.
For instance, Payment Gateways provided by the EU would require your presence within its regions. A UK-based company would make fulfilling this requirement all the more convenient.
Incorporation Procedures
The following procedures are involved in incorporation:
- Preparation and filing of the necessary paperwork for registration
- Provision of Initial Subscriber
- Obtaining the original Certificate of Incorporation, Memorandum of Association, and Articles of Association
- Resolution of the appointment of a director and allocation of shares
- Share Certificates for each shareholder
- Government fees for the first year
- Registered address and agent to comply with minimum local presence laws
Renewal and Maintenance Fee
All government fees for the first year are already included in the aforementioned requirements. Subsequent years will call for an annual payment of a maintenance fee amounting to 1490.00EUR (inclusive of government fees and renewal procedure fees: exclusive of accounting fees).
Time for Incorporation
Incorporation only takes one work week. Corporate documents will be delivered by courier one week after obtaining the Notary Public Certificate and Apostille.
Bank Account
Note that as a rule, a one-time personal appearance to the bank officer in the region is required when opening a bank account in the UK. Subsequent transactions, however, can be handled from anywhere in the world.
Overseas Banking
With Oobac, you may choose to open any number of company accounts from different banks around the world without ever leaving your country. You may choose to create an account with one of our suggested banks:
Issuing Nominee Share
By availing of our Nominee Service, you get the exclusive benefit of owning shares without having to use your real name. Again, your personal information will remain confidential and unrecorded so that your business is always secure.
Related Services
Oobac offers even more tools to enhance your companies business activities and security. For more details, visit the following pages:
