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Advantages of setting-up a joint venture company in United Kingdom: one of the initial benefits of registering a joint venture company in the UK is that it doesn't usually require approval from the relevant authorities. The only time there might be an examination of the new enterprise is if combined there is a large market share of typically over 25 percent, as it might breach competition rules and therefore be investigated by the Office of Fair Trading. This is because if the joint venture is big enough it might stifle competition and therefore not be permitted by competition law to form.
When entering into a joint venture, it's always best to keep your details as confidential as possible, and so in order to maintain your privacy it is best to sign a confidentiality agreement with the other party. In addition, you can draw up a memorandum of understanding that further backs up the agreement and ensures your security.
A joint venture company can have significant tax and profit advantages. Profits are normally distributed as dividends, but if the joint venture enterprise is a partnership, profits are instead divided between the various partners.
In terms of control of a joint venture company, it depends on what was initially agreed and signed in the contract, such as directors' rights and the decision-making process. It's beneficial at the outset to insert details into the agreement about how to resolve any potential conflicts as well as what to do in the event the joint venture is wound up or dissolved.
In addition, prior to signing off on a joint venture agreement, it's good to get professional advice that covers all areas of such a venture. That way you will not leave out important matters that may one day arise and cause difficulty. For example, you might not know that in drawing up your agreement, clauses can stipulate that you are restricted from competing directly with the joint venture operation. At Coddan Formations Agency, our expert consultants can give you all the relevant advice.
Competition law also forbids collaborations between enterprises in cases where they aim to share markets or fix prices, and once again, it's best to seek professional company advice before signing up to a joint venture agreement that might cause trouble for your firm in the future.
The accounts of a joint venture company are the same as for any other. Proper accounting must be kept at all times and in all areas, including minutes of meetings between the directors.
Affordable joint venture company registration for non-UK customers: many people outside of the UK routinely register UK joint venture companies in order to take advantage of the many tax benefits available. While this might seem slightly more complicated to do than if you were a UK customer, at Coddan Formations Agency, we can register a joint venture company in Great Britain for you as well as providing a range of other services to help you on your way. We offer four unique joint venture company registration packages, each at a different price point and including different features, so you can choose the joint venture company registration package which meets your requirements.
Registering a joint venture company in England, Wales, Scotland and North of Ireland even if you are based outside of the UK is very simple, and at Coddan Formations Agency, we can have your joint venture company set up within couple of hours. However, simply registering your joint venture company is not all that we offer; our other services are often considered to be indispensable in ensuring that your joint venture company is registered and run safely and legally, which gives you the peace of mind you need when registering a joint venture company in the UK.
Obviously, before you start trading with your joint venture company your partnership will need a UK business bank account. We can open UK bank account for you, as well as assist you with filing your annual returns, preparing, and submitting your joint venture company annual accounts with both Companies House and HMRC. If you hire us to do this work for you, you can rest assured that it will be done quickly and correctly - and the security that this provides can't be overstated.