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The United Kingdom (Great Britain) is an industrially developed country with a high rating and a standard level of taxation, and is a member of the EU, UN, NATO and other international organisations.
The economy of the UK is among the five largest in Europe. Its capital is London, one of the leading financial and business centres of the world.
On the whole, the UK is a country with a standard level of taxation, but at the same time, British companies are widely used in practice by entrepreneurs as a vehicle for tax planning.
We discuss below the features of a UK-resident company, subject to UK tax, i.e. a company with a tax reference number, paying tax at standard UK rates, regardless of where its income is derived.
In order that a UK company may be used as a tax-planning vehicle, the normal procedure is to include it in a two-company structure, consisting of a directly resident UK company and its foreign (usually tax-exempt) principal.
| GENERAL INFORMATION | Total area - 244,755 sq km
Population - 58,000,000
Location - click here to see the map of offshore jurisdictions
Political status - Monarchy
Capital - London
Official language - English
Official currency - British Pound (GBP)
Time zone - GMT -/+ 0 |
| Company type | Private Limited Company (Ltd.) |
| Directors/Officers | United Kingdom Ltd. companies require a minimum 1 Director, who may be a natural person or a corporate body from any legal jurisdiction.
Each United Kingdom Ltd. company must file a Register of its Directors with the Companies House, the company registry for England and Wales. |
| Shareholders | United Kingdom Ltd. companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction.
Each United Kingdom Ltd. company must file a Register of its Shareholder/s with the Companies House, the company registry for England and Wales. |
| Secretary | United Kingdom Ltd. companies require a minimum of 1 Secretary, who may be a natural person or a corporate body from any legal jurisdiction.
Each United Kingdom Ltd. company must file information on its Secretary with the Companies House, the company registry for England and Wales. |
| Authorised share capital | Standard authorised capital = GBP 1,000.
Minimum capital, which must be paid on incorporation = 2 GBP. |
| Company Names | The name of a United Kingdom Ltd. company must end with the word "Limited" or with the suffix "Ltd.".
Company names containing restricted words such as "Bank", "Insurance", "Trust", "Assurance", "Building Society", "England", "British", "Irish", "National", "International", "Holding", "Group" etc. will not be permitted unless an appropriate national operating licence or special permit has been obtained by the company. |
| Beneficial Ownership information | Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company in the UK and is held by the agent on a confidential basis. |
| Filing of Annual Return | An Annual Return must be submitted every 12 months after the date of registration. |
| Filing of Financial Statement | Financial Statement must be submitted to the Companies House and U.K. Inland Revenue each year. |
| Corporate Taxation | Tax rate for English companies is 28%. |
| Tax Treaties | The United Kingdom has concluded double tax treaties with more than 100 countries worldwide. |
| Timeframe for incorporation | 6/7 working days. A complete set of company documents can be delivered in 4/5 weeks. |
| Takeover of management & secretarial services for an existing United Kingdom Ltd. company | Possible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in UK. |
| Description of incorporation documents | Click here for itemised description of company documents. |
| "Ready-made"("Shelf") companies | We are happy to register new company in this jurisdiction in accordance with client instructions. |
| Price of United Kingdom Ltd. company | USD 2,280, including incorporation costs, full domiciliary (Registered Agent/Office) costs, Nominee services and legal support services for one year. |
| Cost of annual support services | USD 1,540 per year, including full domiciliary (Registered Agent/Office) costs, annual Government Duty, Nominee services, and legal support services for each year. Also, there are additional payments for preparation of financial statement, depending on complicity of the statement. |
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