UK Companies Information
| Key Company Features | |
| Type of entity | Private Limited |
| Type of law | Common |
| Shelf company availability | Yes |
| Our time to establish a new company | 3 days |
| Minimum government fees excluding taxation | Not applicable |
| Corporate taxation | 19% - 30% |
| Double taxation treaty access | Yes |
| Share capital or equivalent | |
| Standard currency | GBP |
| Permitted currencies | Any |
| Minimum paid up | GBP1 |
| Usual authorised | GBP1,000 |
| Directors or Managers | |
| Minimum number | One |
| Local required | Yes |
| Publicly accessible records | Yes |
| Location of meetings | Anywhere |
| Members | |
| Minimum number | One |
| Publicly accessible records | Yes |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | Yes |
| Local or qualified | No |
| Accounts | |
| Requirement to prepare | Yes |
| Audit requirements | Yes, but small company exemption |
| Requirement to file accounts | Yes |
| Publicly accessible accounts | Yes |
| Other | |
| Requirement to file annual return | Yes |
| Change in domicile permitted | Yes, but subject to approval of Inland Revenue |
Setup And Maintenance Costs
Incorporation (Setup) Costs - US$1,000 (+ US$900 nominee director/secretary if required)
The fee is all inclusive, no hidden costs.Annual Maintenance Costs - US$1,000 (+ US$900 nominee director/secretary if required)
The fee is payable after the first year and covers registered office, filing fee (and nominees). Accounting services are charged extra. The fee doesn´t include corporate tax of course.
Our company kits are always delivered with the same documents and may vary slightly from jurisdiction to jurisdiction.
Our corporate kits are delivered with the following documents:
- Certificate of Incorporation
- Certificate of Fact
- Certificate of Non-Trading
- Appointment of First Directors / Nominee Directors (if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested
Company Information
Type of Company for International Trade and Investment
Private ('Ltd').Procedure to Incorporate
Submission of Memorandum and Articles of Association, Declaration of Compliance and Statement of the First Directors and Secretary and notification of the situation of the Registered Office with the requisite fee to Companies House.Restrictions on Trading
Yes, for specified groups, which include banking, insurance, financial services, consumer credit and related services. A PLC cannot commence trading until the minimum share capital of L50,000 has been allotted.Legal Powers of Company
A Company incorporated in the United Kingdom has the same powers as a natural person.Language of Legislation and Corporate Documents
English or Welsh.Registered Office Required
Yes, must be maintained in England or Wales.Name Restrictions
Any name that is identical or too similar to an existing company; any name which would be considered offensive or suggests criminal activity; or any name that suggests the patronage of the Royal Family or which implies an association with Central or Local Government of the United Kingdom. Restricted names which usually require a licence or other Government Authority include the use of the following words:- assurance, bank, benevolent, building society, Chamber of Commerce, fund management, insurance, investment fund, loans, municipal, reinsurance, savings, trust, trustees, university or their foreign language equivalents for which the approval of the Secretary of State is first required.Language of Documentation
Whilst the name of company can be in any language, the documentation must be in English. Any name in a language other than English must be accompanied by a certified translation to ensure that the name is not restricted. However, if the company is incorporated in Wales, documentation in Welsh will be accepted.Disclosure of Beneficial Ownership to Authorities
No, but disclosure may in certain circumstances be required for accounting purposes. (Accounts must be filed and are available for inspection by the public).Authorised and Issued Share Capital
Minimum Authorised Share Capital: L1.00Issued Share Capital: The minimum issued capital is one share, but additional capital is usually issued to reflect the stability and strength of the company.
Classes of Shares Permitted
The normal category of shares are ordinary shares but, subject to the circumstances of the company, they may be preference shares, deferred shares, redeemable shares and shares with or without voting rights.Taxation
Corporation tax (which includes Capital Gains Tax) is paid by UK companies based upon accounts, which are submitted to the Inland Revenue and the Registrar of Companies at the end of the company's financial year. A company is free to choose its financial year-end. Companies pay corporation tax at the rate of 19% where the net profit before tax does not exceed L300,000. The tax payable increases thereafter in stages until the net profit before tax reaches L1.5 million where the top rate of corporation tax is charged at the rate of 30%. These limits for the lower and higher rate of corporation tax apply to the total profits (worldwide) of group companies and associated companies. Obtaining the lower rate of tax can be problematic for UK companies owned outside the UK.Double Taxation Agreements
The United Kingdom is party to more double tax treaties than any other sovereign state.Licence Fees
None.Financial Statement Requirements
All UK companies are required to file accounts prepared in statutory form with the Registrar of Companies and the Inland Revenue. Companies whose annual turnover does not exceed L1,000,000 are not required to file independently audited accounts and in such cases the directors must self-certify the accounts.Note: The audit exemption is being increased from L1m to L5.6m from 30 March 2004
Directors
A private company must have at least one director and a public company must have at least two directors. Directors may be natural persons or bodies corporate who may be of any nationality and need not reside in the UK.Company Secretary
A company secretary must be appointed. The company secretary may be a natural person or a body corporate who may be of any nationality and need not reside in the UK.Important Note
The UK system of taxation, subject to conditions, offers commercial opportunities to reduce tax payable for those engaged in international business. Further information is available on request.General Information
A 'custom-made' UK company formation has many advantages over an 'off-the-shelf' company. It is usually more economical to incorporate a company with the client's choice of name, directors, shareholders and authorised share capital than to purchase a shelf company and change these particulars after incorporation.
The intended situation of the registered office must be stated from the outset. If they wish, clients may be named as the first director and secretary.
A same day incorporation service is available from Companies House for an additional fee.
