The United Kingdom has one of the most successful economies in the EU, that why company formation in UK is very popular in our days. It attracts more inward investment from Asia and the US than any other EU country, securing almost a quarter of all investment into Europe in 2003, according to Ernst & Young. This success is reflected in the number of foreign companies that have expanded into the UK. You can be part of it. Find out how easy it is to set up a British company by taking a look at our company formation service.
Why is the company formation in UK so popular among foreign investors?
Investors have cited a number of reasons for choosing the UK, including these:
- size of the market – it is the world’s 4th largest economy
- strong currency – the pound has performed better than the Euro
- location and language – a natural point of entry into the EU
- government policy – the UK has a liberal business environment
At the same time, it should be noted that the UK doesn’t have a particularly attractive tax regime – full corporate income tax is 30% – and there are few general incentives.
What are the main types of company formation in UK?
- private limited company (Ltd)
- public limited company (Plc)
- branch of a foreign company
- limited liability partnership
Company formation in UK: What are the main features of a private limited company?
- by far the most popular format for foreign investors
- only one shareholder needed, ideal for wholly-owned subsidiary
- no minimum capital requirement
- minimum one director and a company secretary
- accounts to be filed annually
Company formation in UK: What are the main features of a Plc?
- the minimum share capital for a Plc is £50,000
- at least 25% of the share capital must be paid up
- minimum of two directors and a company secretary
- financial statement to be audited if turnover exceeds £1m
What are the main features of a branch?
- foreign parent responsible for all liabilities of UK branch
- branch required to register with Companies House
- parent company accounts to be filed annually
What are the main features of a limited liability partnership?
- at least two members, each with limited liability
- fairly new format but increasingly used for joint ventures
- same registration and disclosure requirements as limited company
- other types of partnership are possible, but rarely used by foreign companies
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