UK Company Formation with Legal Business PayPal, Wise & Stripe
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Starting a business in the UK can be a daunting task, especially for non-residents who may not be familiar with the country's business laws and regulations. However, with the right knowledge and resources, it is possible for anyone to successfully form a UK company, regardless of their location or citizenship.
In this guide, we will cover everything you need to know about UK company formation for non-residents, including the different business structures you can choose from, the documents and information required, and the steps involved in the process.
The process of registering a company in the UK as a non-resident is relatively simple. You can choose from different business structures, such as sole partnership or limited liability company (LLC). It's important to consult with a professional to help you choose the right structure. Once you have chosen a structure, you can register your company with a reputable online company formation agent by choosing a unique company name and submitting the required documentation. In that case, Business Globalizer is a trusted online company formation agent that offers specially tailored packages, a user-friendly application form, and professional support every step of the way.
Follow these three simple steps to register your UK company online with Business Globalizer:
Step 1: Select a Company Name
Before starting the process of registering your company in the UK, you need to choose a unique and appropriate name for your business. This decision can affect the identity and perception of your company by customers and partners.
To check the availability of a proposed company name, you can use the name search tool on find-and-update.company-information.service.gov.uk the official UK government website. If the name is already in use, you will need to modify it until a suitable name is available. It's important to consider the name's relevance and impact on the long-term success of your business.
Tips for Choosing a Company Name:
Choosing a company name is crucial. Pick something unique and appropriate that follows regulations to protect your brand and ensure it's suitable for business use. Avoid names that might be confused with existing companies.
Some general guidelines to keep in mind when choosing a company name include:
Avoid names that are too similar to those of other companies, as this can cause confusion and legal issues.
Stay away from restricted or sensitive words or phrases that may be considered inappropriate or offensive.
Make sure that your company name does not include any prohibited characters, punctuation, symbols, or signs.
Remember to include the word "Limited" or the abbreviation "Ltd" at the end of your company name, unless you are exempt from doing so.
Consider the availability of your company name as a domain name for your website. It is often helpful to have a website with a domain name that is the same or similar to your company name.
Once you have selected an available and appropriate company name, it's time to register your business. Business Globalizer offers 3 Non-Resident Company Formation Packages, for non-residents looking to form a limited company in the UK. Our packages are tailored to meet specific needs and make the registration process easy. Visit our packages and select the one that best fits your needs.
UK PREMIUM PACKAGE:
Our Premium company formation package for non-UK residents offers everything you need to form and start trading with your UK company, such as:
Incorporation of a UK private limited company
A London-based service address for one year
Business accounts with Stripe and PayPal
Virtual business bank account with Wise
Expert guidance on managing financial accounts
Web authentication code for updating Companies House records
Soft copies of the certificate of incorporation and memorandum & articles of association
PSC register, a new legal requirement
A lifetime of free online and email support
Registered office address for one year
Free director service addresses for all directors for one year
Free delivery of official posts (letters from HMRC, Companies House, and the courts) via our unique scanning service
Introduction to accountants and legal experts
Free pre-submission review for added peace of mind.
STANDARD PACKAGE UK:
Our Non-Resident Standard package UK offers the following services:
Incorporation of a UK private limited company
A London-based service address for one year
A business account with Stripe
Virtual business bank account with Wise
Expert guidance on managing financial accounts
Web authentication code for updating Companies House records
Soft copies of the certificate of incorporation and memorandum & articles of association
PSC register, a new legal requirement
A lifetime of free online and email support
Registered office address for one year
Free director service addresses for all directors for one year
Free delivery of official posts (letters from HMRC, Companies House, and the courts) via our unique scanning service
Free pre-submission review for added peace of mind
This package offers comprehensive support for non-residents to form and manage a UK private limited company. It includes essential services and a free pre-submission review to ensure a smooth company formation process and address any potential issues before submission.
BASIC PACKAGE UK:
Our Non-Resident Basic package UK offers the following services:
Incorporation of a UK private limited company
A London-based service address for one year
Virtual business bank account with Wise
Expert guidance on managing financial accounts
Web authentication code for updating Companies House records
Soft copies of the certificate of incorporation and memorandum & articles of association
PSC register, a new legal requirement
A lifetime of free online and email support
Registered office address for one year
Free director service addresses for all directors for one year
Free delivery of official posts (letters from HMRC, Companies House, and the courts) via our unique scanning service
Free pre-submission review for added peace of mind
This package for non-residents offers everything needed to easily set up and manage a basic private limited company in the UK. It includes essential services, a free pre-submission review for added assurance, and the peace of mind that comes with professional support.
Business Banking Solution for Non-Residents:
All Non-Resident Company Formation Packages include a Wise UK business account for non-residents. This account allows you to manage multiple currencies seamlessly, with features like real exchange rate, UK account number and sort code, Eurozone IBAN, US account and routing number, Australian account number, and BSB code- all accessible from anywhere in the world. It's a smart and convenient banking solution for your new business.
The final step in the process of registering your company in the UK is to complete our online application form. To complete the process, you will need to provide the following information about your company and its owners and managers:
Company name: It is important to thoroughly review the proposed company name before submitting the incorporation form. This includes checking for any typos or errors in spelling, capitalization, or spacing. It's also important to ensure that the company name adheres to any legal requirements, such as including the appropriate designation of "Limited" or "Ltd" at the end.
Registered office address: Our London registered office address will be automatically added to the form. This is your company's official address, which will appear on public records. All government correspondence from Companies House (the UK registrar of companies) and HMRC (the UK's tax authority) will be sent to this address. When we receive any such mail, we will scan it and email it to you on the same day.
Standard Industrial Classification code (SIC code): You should provide a Standard Industrial Classification code (SIC code) to describe and classify your company's main business activities. You can choose up to four SIC codes. Our online company formation form includes a SIC code search tool, but you may also want to consult the SIC code list before starting your order.
Director's details: You must appoint at least one director to your company. For each director, you will need to provide the following information:
Full name
Date of birth (must be at least 16 years old)
Home/residential address (this will not appear on public record)
Service address (this will appear on public record) – enter our London service address in this section
Nationality
Occupation (optional)
Directors are the individuals who manage a company on behalf of its shareholders. You can appoint yourself as a director, or you can appoint other people to this position.
Another way to structure the ownership of your company is by having multiple shareholders and directors. This allows for a shared responsibility and decision-making process in running the company. It also creates a system of checks and balances to ensure that the company is being run in the best interest of all shareholders.
Shareholder's details: You must appoint at least one shareholder. For each shareholder, you will need to provide the following information:
Full name
Date of birth (no minimum age requirement)
Home/residential address (this will not appear on public record)
Service address (this will appear on public record) – enter our London service address in this section
Nationality
Three security details (used to create a secure online signature)
First three letters of the mother's maiden name
First three letters of the father's forename
First three letters of town of birth
Shareholders are the people who own and control the company. You can appoint yourself as a shareholder, or you can appoint other people to this position. It is also common for shareholders to be directors, which means that you can own and manage the company on your own by appointing yourself as both a shareholder and director. Alternatively, you can own and manage the company with other people.
Share capital: To form a limited-by-shares company, you must issue a minimum of one share for every shareholder. If you are forming the company on your own, you can simply issue one share to yourself. However, it is important to consider your long-term plans before deciding on the number of shares you issue.
For example, There may come a time when you desire to expand your business and bring in new investments or partners. One way to achieve this is by selling shares of your company. Additionally, you may also want to share the success of your business with your loved ones by gifting them shares. It's worth noting that the process of issuing shares can always be done at a later date if the need arises.
Our guide to limited company shares provides more information on this topic. If you need additional guidance or have questions, don't hesitate to contact us and we will be happy to help.
People with significant control (PSCs): People with significant control (PSCs) are individuals who own and/or control a certain percentage of a limited company. Typically, PSCs are also shareholders. You will need to identify your company's PSCs and provide the following details for each person:
Full name
Date of birth
Home/residential address (this will not appear on public record)
Service address (this will appear on public record)
Nationality
Nature of control in the company (e.g., holding more than 25% of issued shares, holding more than 25% of voting rights, or having the right to appoint or remove the majority of directors)
It is usually straightforward to identify and determine who your PSCs are. For instance, if you are setting up a company on your own, you will be the only PSC. Or, if you are forming a company with only one or two other people and you all take the same number and value of shares, you will all be considered PSCs.
Submitting your company formation application:
The process of incorporating a company is relatively straightforward. Once you have gathered all the required information, the online application form should take approximately 5 minutes to fill out.
Upon submitting the form, the application will be electronically filed with the Companies House for approval. The approval process is usually quite quick, with most companies being approved and registered within 3 to 6 working hours. As soon as your company is incorporated, it will be legally allowed to conduct business and start trading.
In addition to the notification and digital copies, we also provide printed copies of the company formation documents and registers by mail. These hard copies serve as an official record for your company and it is important to keep them in a safe place for the lifetime of the company. The printed copies are sent via tracked delivery to any UK or international address of your choice at no additional cost, ensuring you have a physical record of your company's formation.
In conclusion, it is possible to form a limited company in the UK as a non-resident. By using the services of a reputable online company formation agent, such as Business Globalizer, you can easily complete the process online without having to travel to the UK.
Plus, our team of UK company formation experts is available 24/7 to provide support and guidance every step of the way. Simply follow the three steps outlined above to get started on registering your UK company today. If you have any questions or need further assistance, don't hesitate to contact us or leave a comment below.
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