Legal requirements to open an LTD company for non-residents: you can quickly and easily register a corporation, even if you are not resident in the UK, or are not a British citizen. The process, and the statutory requirements, are the same no matter where you live:
Before you register a company you should understand that:
There are three ways for you to register a limited company in the UK:
By far the easiest method is to use a incorporation agent. They can take care of all the administration for you and answer any questions. The whole process can be done remotely and can be completed within three hours. Because all of the necessary documents can be signed electronically, there is no need to travel to the UK to form a new limited company.
Companies set-up agents can also provide registered and legal service addresses for your business, and then forward your mail to your own overseas office.
With so many jobs now able to be done remotely, and the costs of living in the UK rising, it's no wonder so many British people are moving abroad and working from the comfort of their laptop. However, if you are a UK citizen living abroad it's essential to look at your options before you register a company, and ensure you get the right advice to keep your company legally compliant.
Taxes: if you are a UK citizen living abroad, you will need to still pay taxes both in the UK and the country where you reside. However, some countries have a double taxation agreement with the UK, and this can mean you are exempt from one or the other kinds of tax. It's essential to get financial advice to ensure you're paying the right amount of tax, and to the right country.
Registering your businesses: if you are just registering as a sole trader, this is simple to do online via the HM Revenue & Customs website, and all you need is a British National Insurance number, and to set up an online account for self-assessment taxes, which will need to be filed by the yearly deadline.
Limited companies: if you are registering a limited company, you need a name and address for your business, and therefore you will need some sort of presence in the UK. Limited companies also have at least one director and shareholder, and need to register for corporation tax. You'll also need a business bank account either in the UK, or in Sterling from your own bank.
Trading in the UK: if you already have a business abroad, and are looking to expand in the UK, then you'll need to make sure you register with Companies House before you trade. You can get help and advice from Coddan Ltd whatever your situation, allowing you to set up a branch of your business in the UK.
Whether you are already a business owner, or are dreaming of starting your own company, it's essential to ensure that you follow all legal procedures. This will help protect you from legal troubles down the line, and means you can trade with confidence.