By Guest Writer • Published: 26 Apr 2024 • 22:13
Image: Shutterstock
Getting into business in the UK is one of the many reasons foreigners come to the nation. And these naturally include limited companies of all sorts according to The Hoxton Mix. Now, for many people, the “Can I register a company in the UK as a foreigner?” question is a prominent one, and the answer is a resounding yes. However, this response should be accompanied by a guide showing how it’s done.
Fortunately, the information you’re about to read through is exactly what’s needed: a comprehensive look at UK registration for limited companies. This, as you’ll soon see, is a process that requires careful consideration on multiple fronts, so keep an open mind.
Seeing as you’re probably eager for answers, you might as well be indulged with some upfront. As a foreigner asking the question “Can I register a firm in the UK as a foreigner?”, you have to know that it requires a few things to be done:
Before this process can go through, it’s always good to be prepared. This of course involves having a solid plan that will help you in the British market. Without further hesitation, let’s get into the registration process.
In the UK, foreign businesses can only be registered if their owners have a visa. Said visa not only allows them to get into the country, which they don’t need to do since they can work remotely but also hire people in the UK, as per the nation’s laws. Among the visa types you’re likely to choose from are the following:
With the visa application hopefully approved, you can move on to the categorising of the business’s legal structure. This is arguably the most important part of the process as it determines who you’re hoping to register with, and what taxes you’re going to be paying. In our case, the operation structure is that of a limited company, although others like sole traders, and partnerships are out there, in case the operation doesn’t fit the mould of this piece.
What makes this category stand out? Well, a lot of it is in how registration works, which we’ll discuss, but other differences include the following:
As of March 2023, over 5 million companies were registered with Companies House. And 95% of those were private limited companies since 2005. How did they pull it off? Well, it all begins with them gathering some essential pieces of information. These include the following:
With said information in hand, you can then go about the registration process. This begins with Companies House registration within a month of its establishment in the country, using the above information. This is something that can be achieved both online and via post. Afterwards, Companies House registers you and automatically gives you a registration number.
This number along with a host of other information can be used to register for corporation tax with the HMRC. This includes:
Note that usually as Companies House registration happens, the same is done for corporation tax. Failure to achieve this specific task within three months of the commencing of activities will result in fines. In the same vein, any changes to your organisation should be reported to Companies House within 2 weeks.
Having gone through the incorporation procedure, what does this mean? Going through the process that comes with the answer to the “Can I register an agency in the UK?” question does more than avoid the likely fines. It also gives your operation access to the UK, which is one of the most stable economies on earth.
With it, you can gain access to infrastructure, the nation’s great port status, and its diverse workforce. All this costs only £20 in registration fees, which is wild.
The one thing that can be said about UK limited company registration as a foreigner is that the process can be daunting. Those asking the question on how you can register a company in the UK as a foreigner have now seen the accompanying procedure, and suffice it to say, it’s quite intricate. Knowing the UK’s laws surrounding the matter is of obvious importance, and coupled with the above guide, you’re able to pull it off.
Success, however, is never guaranteed, which is why before you leave here, have a solid strategy regarding your endeavour. When combined with the above guide, and knowledge of the law, chances of success are improved.
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