Do you dream of expanding your business beyond your country?

Do you dream of expanding your business outside your country? - Legal advice

Business registration in England opens up significant opportunities for Ukrainian entrepreneurs. This is not only a chance to enter the international market, but also an opportunity to strengthen your reputation in the eyes of potential customers. Companies registered in Great Britain often look more attractive to investors and partners. However, the main advantage is that business in England provides entrepreneurs with much greater stability and confidence in doing business than in Ukraine.

Pros of doing business in Great Britain

Business in England has several key advantages noted by entrepreneurs:

• economic and social stability of the country;
• developed market supporting business;
• favorable legislation for doing business;
• progressive tax policy, which may involve lower taxes;
• relatively low credit rates;
• high level of asset security;
• Trade relations with European markets and the USA have been established, in particular, England is on the verge of signing an agreement on a free economic space with the USA.

In addition, it is worth noting the possibility of obtaining a residence permit, especially thanks to the new investment and emigration programs.

Tax regulation in the UK

Among the advantages of doing business in England, it is especially worth noting the issue of taxation. The UK tax system is considered one of the most business-friendly in Europe, although it has its own peculiarities and complexities, which makes consultation and legal analysis of the situation on tax issues often necessary.

Corporate entities in Great Britain must pay the following taxes:

• income tax;
• value added tax;
• tax on income from the sale of fixed assets;
• annual excise tax on transport.

For sole traders, the tax-free income in England is £8,000 per year. Some UK counties also have business tax on non-residential lettings.

However, it is important to know that there are legal ways to significantly minimize your tax liability if you understand local laws well.

Business registration process

The first step in registering a business in England is opening an account. In such a progressive country, this stage can be completed online. To do this, you should fill out an application on the website of the embassy, ​​in which the following are indicated:

• unique company name;
• legal address;
• data of the founders of the enterprise;
• confirmation of financial capabilities;
• copies of documents;
• description of business idea.

Let us now consider the points in more detail. First of all, consider that it is possible to open a company from scratch, and to purchase a ready-made business. The name of the new organization must be unique. The verification of uniqueness is performed directly by the registration authorities.

The list of documents required for submitting an application includes: application, founding agreement, company charter and founders' passports. Business registration in England is carried out at the Registration Chamber.

The result of application approval is a certificate. It is sent electronically immediately after the decision of the relevant authorities. The paper one is received in a week.

Types of companies in Great Britain

In England, business can be conducted in one of four forms, each of which has its own characteristics and advantages depending on the type of activity. The entrepreneur can choose:

• Private Company Limited by Shares is a limited liability company where liability is limited to the personal capital of the founder. Analogue LLC.
• Private Company Limited by Guarantee is also an LLC, but with a guarantee. These are usually charitable foundations or non-profit organizations where liability is limited to the firm's assets.
• Private Unlimited Company (ULL) is a company where the liability of the founders is unlimited. At least two founders are required.
• Private Limited Company is an analogue of an open joint-stock company, where liability is limited to a block of shares. Opening requires two founders and significant start-up capital.

A small business in England is particularly attractive for Ukrainian entrepreneurs. Travel agencies, translation agencies, Hand-Made shops and HoReCa companies are often successful. Sellers of quality products also benefit from the high paying capacity of local consumers.

Current questions - answers to the topic

Legal analysis of the situation by leading lawyers

Expanding business outside your country can be profitable, but requires detailed legal analysis. Leading lawyers will help you assess the legal requirements and regulatory norms in the new jurisdiction, understand the tax obligations and possible risks, as well as prepare the necessary agreements and contracts. It is also important to protect intellectual property and adapt to local standards and norms. Involvement of specialists will ensure the correct management of legal aspects and help to avoid mistakes, which will ensure the success of your business in new markets.

Advantages of working with the legal marketplace 'Consultant'

If you need support in the business registration process, our specialists are ready to help. We have selected the best lawyers who specialize in protecting your rights and provide professional assistance at all stages. Contact us today for expert support! Call +447418377298 to get qualified help now!