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United Kingdom

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Guide to Company Incorporation in UK

August 17, 2011, 2:59 pm
BridgeWest

1.  What is the minimum share capital for a Limited Liability Company in UK?

A limited liability company in UK or a private company limited by shares does not have to pay an initial capital before registration; therefore there is no minimum sum.

2. What is the minimum share capital for a Joint Stock Corporation in UK?

When it comes to setting up a Public Company Limited by Shares or a Joint Stock Corporation in UK, the entrepreneur has to provide a minimum share capital of 50,000 GBP out of which only about 14,000 EUR have to be paid in cash.

3. Are there any special requirements for establishing a Limited Liability Company in UK?

When providing the documents for registration, the company needs to have a name. UK companies have to use the suffix Limited or Ltd that means limited liability and can use any name with the exception of words such as Empire, Crown, Imperial, Windsor, Royal, Assurance, Bank, Building Society British, National, Great Britain, United Kingdom, England, English, Scotland, Scottish, Wales, Welsh, Ireland or Irish. A company’s formation procedure stands in submitting its Memorandum and Articles of Association to the Companies House along with the registration fee. The management is assured by a director but a board of directors can be appointed for larger business. 

4. How can I register for VAT in UK?

Registration for VAT in UK is mandatory for the companies with annual turnover over 73000 GBP. The return files must be delivered quarterly to the tax authorities. Only if the taxable supplies fall below 71000 GBP, the applicant can opt to deregister.  When you register a new company, the Companies House will pass on the details to HM Revenue&Customs (HMRC), but you should also contact their office to let them know that your company exists, unless you want to pay a penalty. The VAT rate is set to 20% or 5% for certain goods or services.

5. How can I open a bank account in UK?

It is recommended that all companies have their own business bank accounts. It is possible for non-UK residents to open a bank account in the UK, but it can be a longer procedure than it would for a UK resident. An alternative to opening an account in the UK is to open an account in your own country as it is not a legal requirement for a UK company to have a UK bank account.

6. How can I recruit personnel in UK?

If you do not want to be assaulted be piles of CVs, you can hire a recruitment agency who can find you the best-suited employees for the company. A cheaper alternative would be to make company profiles on the specialized job sites.

7. What is the average salary in UK?

The average salary per month in Great Britain is around 2000 EUR.

8. What is the overall economic situation in UK?

The UK economy is currently on growth, but there is still a high unemployment rate. At the end of 2012 the British economy was affected by some drops in the mining and quarrying fields, but not significantly. In the rest of the year, there was no growth in any other sectors. Despite a difficult economic period, authorities still hope to find a way of improvement. Although there has been a loss in the investors’ confidence, things are starting to look up and get stabilized. The main sectors of the economy, the agriculture and the industry are among the most competitive in the world. The service industry is very developed and has the main contribution to the GDP numbers. Agriculture is producing approximately 60% of the quantity of aliments necessary for the internal use.

 

 

 




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Company Formation in the United Kingdom

London

BridgeWest provides company formation in UK. Our assistance includes:

> drafting the Articles of Association (necessary for the company incorporation in UK);
The Articles of Association of th ... [More]