As a standard term, an offshore zone is absent in Britain, however, if you follow certain conditions, your company will be able to receive substantial tax preferences. The rate has a wide range for changes in here: from 26 to 0%. Local companies should be audited at any time and keep records if their turnover per annum is over £6 million. For successful registration of local LTD, a sole shareholder is sufficient, where its status and residence are not important. Although the amount of the shared capital should exceed £1000, at the registration date you will need to deposit £2 only, and laws allow ordinary share issuance along with privileged ones.
Benefits of registering the LTD company in the UK
Although it is impossible to acquire an offshore as this term is normally understood in Britain, this country anyway attracts non-residents of this jurisdiction. This is due to lots of advantages for corporations registered here. This is primarily:
Preferential tax regime;
Stable banking sphere;
High level of investment attractiveness;
Great prestige of the state compatible with the highest authority in business environment on the international market;
Low price of servicing and registration;
No currency monitoring by the country;
The rights of shareholders are protected since the liability is limited by the amount of deposit.
of the registering
Registration of LTD companies in Britain allows international commercial transactions, to serve legal entities and individuals being non-residents. When establishing a company, our employees will also open an account with the British bank and create a British office for you. Our clients will only need to decide on the choice of ready-made company from the list pre-developed or, if necessary, create it from scratch.
Then a small advance payment is contributed, and a thing to note, that only 50% of the total cost of our service is enough to proceed to the procedure, and our clients will pay the remaining assets as they receive the entire package of documents.
Britain has concluded agreements on the abolition of double taxation with many countries around the world (approximately 100 of them). The income tax rate varies as per the final financial result:
20% — if less than 300 000 pounds sterling;
23% — if it is 300 000 to 1.5 million pounds sterling,
26%- if it is over 1.5 million pounds sterling;
The royalty rate is 22%, VAT is 17% and dividends are 0%.
Company registration imposes obligations on annual submission of declarations and reports to authorities and necessity of keeping records. In the 1st year of creation, the company receives a 9-month period of benefits for reporting purposes.
The company is exempted from audit only when a company employs less than 50 persons or an annual turnover is less than £6.5 million or when a cost of assets on the balance sheet is less than £3.26 million.
Registration of a British company is not feasible without submission of reliable personal data. After that, employees of the Private Financial Services register a company and this will not be an offshore company, and they will dispatch a package of papers to the destination as specified. The name of the original document signed by all nominee partners:
Articles of Association;
Certificate of Incorporation;
Memorandum of Association;
Minutes of the First Meeting;
Resolution of Shareholders;
When the company has a nominal service, the following is also required:
Declaration of Trust;
Stock Transfer Form;
Legalised General Power of Attorney for a year or till the date of company prolongation as apostilled;
Letter of Resignation with date not specified;
Nominee Services Agreement;
Thanks to good practices, experience gained, qualified theoretical knowledge, the experts employed by the Private Financial Services will quickly and qualitatively help to open and register the business activity in the UK.