Set up a company in the United Kingdom

The UK is one of the most economically powerful states in the world; representing a great opportunity for foreign investors to start their business. Setting up a company in UK is a fairly rapid process and due to highly developed technology, does not require complicated procedures. Most of the steps are quickly completed and are free of charge.

Preliminary activities before registering private and public limited liability companies in the United Kingdom
Company founders of UK companies must verify the uniqueness of the chosen company name and this procedure is possible online, free of charge. Also prior to registration the memorandum and articles of association must be prepared. The form of the memorandum is set in tables. The forms can be purchased from legal stationers, accountants, solicitors.

Registering with the Registrar of Companies in the United Kingdom
Most of the legal entities in UK must be registered, and the private and public limited liability United Kingdom companies must do so as well. In order to register these British companies, incorporation documents must be filed to the Registrar of Companies, at the Companies House. This procedure is easily completed with qualified advice. Companies may be registered online for incorporation in the same day. The Registrar of companies issues approval in a short period of time, or solicits additional information.

Registering for VAT and PAYE   
After the registration certificate is issued, the public or private limited company must contact HMRC (Her Majesty's Revenue and Customs) to register for corporate tax. Simultaneously the company must separately contact the Inland Revenue in order to organize a contribution scheme for national insurance and PAYE tax (Pay As You Earn). After submitting the required application and company identification documents, the company will be issued a reference number.

Signing for employer's liability insurance
After receiving the reference number, the founders must notify the Employer's Liability, a compulsory insurance. For this purpose an application including company identification documents and registration certificate must be submitted.

Setting up a company in UK from abroad
The UK is one of the most important states in which foreign investors wish to operate. The government encourages it, guaranteeing nondiscriminatory behavior and same legislation for foreign investors as for nationals. Foreign investors are free to use any currency and to fully own companies. A company can be set in the UK by assigning a representative to conduct the incorporation process.

How long does it take to found a company in the UK?
Most of the procedures are completed in no more than one day, due to the modern technology that allows online registration. However contacting the HMRC for registering to PAYE may take up to a week. Setting up a company in UK is completed in approximately two weeks, but may take even less.