British Companies

Set up a British company fast and easy.

The United Kingdom has enjoyed a system of company registration since 1844 and all limited companies in England, Wales and Scotland are registered at Companies House. There are more than 2 million limited companies registered in Great Britain, and more that 300,000 new companies are incorporated each year.

It is easy to see why 

• Minimal capital requirement with limited liability
• Anonymity through confidential ownership
• Possibility for payment of profits throughout the financial year
• Fair corporation tax
• Can be run from another country

Incorporation and administration 

Incorporation and administration of a British company takes quite a lot of insight into British company legislation as well as knowledge of how to handle the applicable laws correctly.

The company's assets

When you set up a limited company you have already decided which purpose the company serves. There are many options that a British company can be used for. The most popular are these:

• Operating company
• Investment company
• Holding company
• Consultancy
• Agent for overseas principals

Share capital

The authorised share capital is typically £100. Of this share capital only one share of £1 is ordinarily issued.

Ownership

The company’s capital can be owned personally, by a company or by a trust; but a separate and independent legal entity may also be the registered owner of the shares. A so-called nominee agreement, a ‘Declaration of Trust’, is then entered into between the legal owner ‘the beneficial owner’ and the company or person who is named as the nominated owner ‘the nominee’.

This construction is often used when for whatever reason you wish to hide the actual ownership from the public eye. A British based EMEA company often acts as nominee, giving the legal owner absolute anonymity.

Management

The company must have at least one Director and should also have a Company Secretary. Company Secretary is the official title for the person who can verify the company’s legal status with third parties and who acts as a link to the British authorities. EMEA can facilitate the appointment of both a British domiciled Director and Company Secretary.

Registered office

It is a legal requirement for all British companies to have an official registered address in the UK, where the company’s share register may be viewed and where official documents can be sent to. The address is often different from the company’s business address.

Bank account

Because of London’s status as an International financial centre, where money laundering finance for terrorism are constant threats, it is difficult to open a bank account in the United Kingdom.

EMEA does however have strong relationships with a number of major British  banks who will open bank accounts for non-domiciled foreigners, once their strict terms and demands are met.

EMEA ensures that the procedure is completed methodically and that the banking facility arranged.

Internet banking is naturally a part of the arrangement, and a debit card can also be attached to the account. You will have the possibility to open a merchant account too.

Accounts and auditing

An active British company is obliged to submit a set of annual accounts to the British Company Register every year. The company’s books and records are normally audited by a British based firm of chartered accountant. EMEA can make introductions to a firm of accountants who will look after the preparation of the legally required accounts and who also facilitates communication with the British tax and customs authorities.

Tax and VAT 

The corporation tax in the UK is 21% on net profits of up to £300,000. Above that the tax rate gradually rises to 28% for companies with an annual turnover of between £300,000 and £1,500,000.

You do not have to register for VAT in the UK until you expect to generate an annual turnover of £67,000. VAT registration can only be applied for after the company has acquired a British bank account. As it can take several weeks for the VAT registration to come through, EMEA recommends starting the process as soon as the bank account has been set up. This way you avoid panic, if a VAT registration is needed at short notice.

Alternatively EMEA can arrange a temporary pseudo TURN VAT registration for goods imported from countries outside the EU.

Constitution

There are two central documents regulating a private limited company. The first is the Memorandum of Association and the other the Articles of Association. The Memorandum sets out in detail the actions and activities that can be legally undertaken by the company. In the Articles rules are listed as to how the company should be managed.

Annual Return

Every year an Annual Return has to be filed with Companies House. EMEA will  take care of this process.

EMEA's services

EMEA offers both complete turnkey solutions for company formations and company formations and subsequent administration in the UK as well as providing stand-alone corporate and financial services.

Pricelist and fees

You can obtain information by contacting one of our offices.

Our UK office

Through EMEA Corporate Services UK Ltd. we carry out all the work undertaken in the UK.

 

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