The United Kingdom is a leading global economy and an attractive destination for business expansion, especially for Indian firms. British citizenship is not required for company formation, and Indian citizens can establish businesses in the UK with certain sector-specific guidelines. The UK’s vast market, advanced infrastructure, and strong international relationships offer many growth opportunities, but challenges do exist. E-StartupIndia offers professional assistance to navigate the process and make your business a reality.
Benefits of Company Registration in the United Kingdom
- Simplified Process: Forming a business in the UK is straightforward and can be done online. E-StartupIndia can help you register within a day.
- Limited Liability: Companies are independent entities, so personal assets remain protected if the company faces closure.
- Access to Investment: London’s corporate and tax laws attract investors, offering more funding opportunities.
- Professional Reputation: A UK-registered company enhances your business credibility.
- Multinational Business Opportunities: Large corporations prefer working with registered UK companies over sole proprietorships.
- Access to Technology: UK-based businesses benefit from cutting-edge technologies, ensuring smooth and efficient operations.
- Global Expansion: A UK company can expand globally due to the UK’s strong ties with the EU and the US.
Eligibility Criteria for Company Formation in the UK from India
- Unique Company Name: Must be distinct and follow regulatory standards.
- Directors: Must be at least 16 years old; no restrictions on the number of directors or shareholders.
- Registered Office: Must have a UK-based office address.
- Natural Person: At least one natural person must serve as a director.
- Service Address: Directors and key persons must provide a valid address for official correspondence.
Step-by-Step Process for Company Registration in the UK
- Decide the Type of Company: Choose the legal entity that suits your business.
- Select a Unique Name: Ensure it meets UK standards and doesn’t infringe on trademarks.
- Appoint Directors and Shareholders: Responsible for company operations and compliance.
- Prepare Official Documents: Draft Memorandum (MOA) and Articles of Association (AOA) and register an office address in the UK.
- Submit SIC Code & Register with Companies House: Complete the registration process, file taxes with HMRC, and comply with post-incorporation requirements like opening a bank account and obtaining a UTR number.
Things to Keep in Mind
- Corporate Tax: A flat 19% tax rate on company profits.
- VAT: Standard VAT rate is 20%, with reduced rates for specific goods and exemptions on others.
- Bank Account: You can open a UK business account online even as a non-resident.
- UTR Number: A lifetime unique taxpayer reference number required for all UK-registered businesses.
Step-by-Step Timeline for Online Company Registration in the UK
- Name Reservation: Help with selecting and reserving a unique name.
- Documentation: Guide through preparing MOA and AOA.
- Registered Office Setup: Assistance in setting up a UK office address.
- Director Appointment: Help in appointing directors and understanding their legal responsibilities.
- Online Application: Submission of documents to Companies House for registration.
- Certificate of Incorporation: Obtain official confirmation of company formation.
- Post-Registration Compliance: Guidance on registering for taxes and meeting filing requirements.