Company Formation in UK for Non-Residents!

People seek opportunities for success all around the world thus make their stops at the company formations possibilities in various nationalities. In the UK, there is a huge bundle of work involved in the formation of a company but its not an entirely impossible task. Thousands of people are doing this and so can you. You can open and run a company in the UK while sitting somewhere else in the world. This involves a great deal of effort and some responsibilities to fulfill.

Possibility for a Non-Resident to Register a Company

Yes, it is possible to form a company in the UK. You can easily gather information and take the right steps to follow the successful formation. The rules and steps are the same for national and non-residents for the company formations in UK. However, its best to complete the tasks in person by visiting the country and then carry the operations from anywhere in the world but many people manage to form the companies while living away which is also possible. There are proper steps involved in the formation of a company which should be taken very keenly otherwise you can face difficulties and even failures.

The Guided Step-by-step Process

The starting is just like any other business. You will need an attractive business plan which will show you our next turn. After you have completed the plan, you can go on for the steps by which you can become the rightful owner of UK based company. Let’s follow the steps.

• Name Registration: If you have selected a name for your company, you must have to register it with the Companies House in the UK. The tip is to select a name that has never been used before. You can use various online tools to check if the name is not used by anyone else.
• The Address: The second important step is to show a physical address for your company. This seems hard but don’t worry, this can be handled. You can use the address of your relative or friend living in the UK or you can hire low budget accountants in Croydon or London who will show their address on the registration.
• The Director and Shareholders: You must show at least one director and one shareholder. This can be the same person and can be a non-resident. You will have to set the initial share value in the start.
• Form a Limited Company: You will now register the company as a limited company under HMRC with a small fee. If you find it hard then you can hire various accountants to do the job for you. You can do it online.
• Register for Corporation Tax and Tax Return: You must register for the corporation tax and PAYE after three months of the company formation. You will also need to file a tax return every year in the end. This is important for the company to sustain under laws and you can also hire another limited company for contractors of accountants to handle the job of tax filing for you.

You are good to go after these steps. The only thing left to do is to file company accounts with HMRC and open a company’s bank account in the UK. These steps are crucial and need to be done.