UK Company Formation
UK Company Formation | Company Incorporation UK
The United Kingdom consists of England, Northern Ireland, Scotland and Wales and is situated to the west of the European continent and is one of the 27 members of the European Union. The population is approximately 60 million. Most of the world´s corporate legislation is based on English law, allowing for easy UK company incorporation.
The procedure and requirements to incorporate an International Business Company in UK Company Formation are set out below:
- Three proposed company names.
- A brief description of the planned activities.
- Name, address, nationality, passport number and occupation of the Director(s) and Shareholder(s).
- The number of shares to be issued to each Shareholder
|Government fee||US$ 40.00|
|Registered office||US$ 400.00|
|Incorporation fee||US$ 100.00|
|Total cost of incorporation||US$ 540.00|
UK Company Formation Features
Company Law is based on the Companies Act 1985 and subsequent amendments. The Government is currently introducing the Company Law Reform Bill to modernise the legislation.
Under normal circumstances, UK private limited company's can be incorporated/registered within 3 working days.
If required a company can be incorporate on the same day but there is a premium for this service of US$150.
- Only one director required - can be corporate
- Only one shareholder - can be corporate
- Shareholder(s) and director(s) may be the same
- No requirement for local shareholder(s) and director(s) for UK Companies
- Secretary is required, cannot be Director if there is only one Director - can be incorporated.
The UK incorporation documents carry the names and identity of the shareholder(s), director(s) and secretary. As such the names appear on the public record.
Shareholder(s) and director(s) nominee services are allowed to ensure confidentiality of beneficiaries.
- Shares can be issued with or without par value
- Shares may be issued in any legal currency or in more than one legal currency
- The standard share capital is GBP1000 or an equivalent in another recognizable currency
- The minimum paid in and issued capital may be one share
UK Private Limited Companies are taxed on their profits, for more information you can visit the Inland Revenue's website (http://www.hmrc.gov.uk/businesses/index.shtml) or we recommend you seek specialist tax advice.
The UK has many Tax treaties with other jurisdictions, we recommend you seek specialist tax advice to take advantage of these.
- Financial statements must be prepared for a UK Company
- The financial statements must be filed with the UK authorities
- There is a requirement for an annual general meeting of the shareholder(s) but this can be dispensed with by resolution.
- A meeting need not be held in the UK and participants can attend by telephone.
A UK Company can carry out any legal business and/or investment activity worldwide, they may not offer bank, insurance or trust services without prior authorization from the UK Financial Services Authority.
UK Company's can do business with UK residents or corporations.
- First year government filing fees
- Certificate of Incorporation
- Memorandum and Articles of Association
- Letter of appointment of first director
- Nominee shareholder details (if required)
- Declaration of Trust from the nominee shareholder (if a nominee shareholder is required).
- Minutes of the first meeting of the founders
- Share Certificates
- Register of Shareholders
- Register of Directors
- Registered office, (first year, if required)
- International express delivery by FedEx or DHL