Company registration in Great Britain attracts a significant amount of foreign entrepreneurs because running their business in this country provides a several number of benefits. Business-immigration to Great Britain is especially popular among Russian entrepreneurs as it allows them to enter a European market and to move their business to a new level. In case your company operates in a sustainable manner there are supposed to be no difficulties in registration as the above mentioned process in this European country is much easier comparing to the same one in Russia.
Registration of a company in Great Britain: the procedure
In 2006 a law aimed to simplify significantly a registration was passed. According to new standards, if one is about to register his/her organization or a company the owner usually should provide only a form for an application, a founder’s agreement and a statute of a company. Company’s mission is to be described in the statute as well as the act of powers distribution between all shareholders and a formalized agreement of every founder of share ownership.
There exist 3 types of founder’s agreement: preassigned example, preassigned example with changes and special agreement. Any changes made to these agreements are to be registered in appropriate bodies.
After providing the three above mentioned documents a company should make a payment and total amount depends on various factors: the size of the registered capital and its legal form. An applicant should indicate in a specific form all information concerning the founders and all future company officers, the legal address and various names of the supposed company with a prioritized name specified. Legal address should be registered either in Wales or England and should coincide with the real placement to avoid possible delays in correspondence delivery.
Company registration in Great Britain: requirements
Your company should have at the very least 1 chief officer (CEO would be the best option). The requirements to the chief officer are the following:
- Only a physical body has to be assigned as a chief officer;
- Future chief officer should not be the one dismissed from the managerial position or the one considered a bankrupt and not yet restored in his/her rights. In exceptional cases this requirement may be canceled if the court provides the specified physical body with an authorization to manage the business (according to its interests).
- A chief officer should not be younger than 16 years old. The maximum age limit for being a chief officer was canceled in GB in 2007.
Any information about assignment or dismissal of the officials in this new registered company should be provided to the Companies House.
Benefits of registration in such a country as Great Britain
The registration provides every businessmen with the benefits listed below:
- Fast and easy registration and liquidation procedures of this new company.
- Amount of registered capital required is quite little.
- Possibility to operate without the necessity to assign a UK citizen as a company’s CEO.
- Possibility to assign a company’s nominal CEO and shareholder.
- Variety of treaties with different countries that permit to avoid double taxation.
- Limited companies may be offshores.
Company registration in GB allows an owner to set up a sustainable and profitable business in a developed European country and to enhance the prestige of your company greatly. If you’re willing to obtain an expert consultation or the total supervision of the process of your company registration in this country process you should address our company Goldblum and Partners and we will assist you in becoming one step closer to your aim.