Why to open a company in the UK?
Today its rules are aimed at ensuring the transparency of business and the accessibility of information about its beneficiaries. Just in a few years, we are likely to shift to the global tax system. However, effective tax optimization, asset diversification and investment schemes are still possible.
Intelligent Solution Group Ltd. recommends to register an LTD company in the UK and open a business account in order to conduct profitable foreign economic activity, accumulate and invest, minimize or reset taxation of dividends and at the same time avoid the scrutiny of fiscal authorities.
Business in the UK: despite the EU directives and corporate law reforms
For entrepreneurs who are focused on doing business in the UK and beyond its borders, the Intelligent Solution Group experts have prepared a well-structured “English package” offer.
- The prestige of the jurisdiction is confirmed by its leading positions in Doing Business ranking.
- As the largest financial center, Great Britain has always had prestige among European bankers.
- Corporate British law shares the principles of common law, based on a set of judicial precedents, and therefore is more liberate that the European law.
- There is an automated registration system called Companies House which provides online registration of a foreign company and issues charter documents within just a few days.
- Due to simple and comprehensive tax system, business can legally minimize taxation.
- The wide network of avoidance of double taxation agreements with Russia, Ukraine, Georgia, Kazakhstan, Belarus, Armenia and the other CIS countries.
How do we solve the problem of open registers?
The British financial sector aims to attract non-resident investors. But the authorities were forced to implement anti-offshore European directives and conduct a corporate reform. Today the corporate register and data on directors and shareholders are public, and part of the information on beneficiaries may also be open. This fact should not scare potential investors due to the following reasons:
- It was planned that only data on the so-called people with significant control should be entered into the register. LTD must have a legal basis to do this. But, at the same time, obligations to disclose people with significant control are not legally defined.
- The most important data are provided only at the request of authorized bodies and only to their employees.
- Although Brexit is constantly being postponed, the UK exit from the EU seems to be inevitable. Perhaps, the introduction of legislative innovations won’t be necessary.
We provide the Nominee services aimed at hiding the beneficiary's ownership ofthe turnover and assets and limiting the existing risks. Within the Nominee service, we also select andrecruit full-time staff.
Benefits of LTD Companies
The prestigious British LTD companies are the choice of the entrepreneurs who appreciate status and impeccable business reputation. A Private Limited Company can be used in the form of a non-resident, nominee or holding company both for conducting any legal business and owning real estate and intellectual property rights. LTD has the following advantages:
- As acounterpartof a closed joint stock company not requiring significant investments, a British LTD is ideal for small business.
- It is enough to have only one director and shareholder with any residence.
- The amount of paid-up share capital is not regulated and can be as little as 2 pounds.
- UK companies with annual turnover up to 10.2 million pounds and 632 thousand pounds are considered small and micro enterprises, respectively. They submit electronic financial statements in a simplified form and can be exempt from its audit.
- Under certain conditions, annual costs will not exceed 1% of turnover.
In international trade a respectable British LTD often acts as an agent company in agency schemes. They carry out export-import operations on behalf of the principal, a non-resident company from a jurisdiction with a territorial taxation principle. Remuneration is a percentage of the gains transferred to the principal’s account. There is no need for a British agent to disclose information about an offshore partner.
Package service – the guarantee of flawless opening of a corporate account
Following the norms of anti-money laundering legislation and fearing huge fines from financial regulators, foreign banks have significantly tightened the compliance procedure. In order to open an account for business, it is no longer enough to provide documentary evidence of the beneficiary identity and apostilled corporate documents. Our compliance specialists will help to prove the value of your business and ensure its economic presence at the place of incorporation.
For each client we find the best possible solution. Registering an LTD company in the UK and opening an account with a unique IBAN costs € 2,200. The package price includes the company registration, preparation of documents with an apostille, annual maintenance and support for opening an account in the payment system.
Author: Nina Larina