As a non-UK resident, you may be confused about the rules surrounding UK company formation. This blog will provide the answer to your most asked questions.
Simple answer – yes! You can start a company in UK even if you reside outside of the UK. You do not have to travel to UK as you can start your company online quickly and easily with 1st Choice Incorporations.
We have a range of packages for non-UK residents, helping you to setup a company in the UK with everything you need. We can provide a UK address as it is a legal requirement to have a Registered Office located in the UK. You can choose between our London and Cambridge offices for your Registered Office and Directors Service Address. Letters received from HMRC, Companies House, other government agencies and the courts will be scanned and forwarded to your email address.
You will need to appoint at least one director and one shareholder; the same individual or company can hold both positions. Your directors and shareholders can be non-UK residents or a mix of UK residents and non-UK residents. There is no requirement for a majority of shares to be held by a UK resident.
All companies are required to notify Companies House of their PSC (Person with Significant Control). An individual or company who holds, directly or indirectly, more than 25% of the voting rights or shares in the company qualify as PSCs. They may also hold the right to appoint or remove the majority of the board of directors. If there are many shareholders with none holding more than 25%, you will need to notify Companies House that the company has no PSC.
It is recommended that you open a bank account for your company. UK high street banks are currently not opening accounts for non-UK residents. However, we are partnered with other providers like Wise and Kapaga to whom we will be happy to provide referrals and may be able to provide UK bank account details for non-UK residents (dependent on passing their due diligence checks).
To register your company in the UK, you will need to complete the following steps:
- Select which registration package you would like to purchase
- Complete our incorporation form containing the company’s unique name and the personal details of the directors, shareholders and PSCs.
- Provide certified ID and proof of residential address for all directors and shareholders.
We will then submit your application form to Companies House for approval. Typically, your company will be incorporated within 24 hours, depending on the Companies House workload.
Our non-UK resident packages start from £99.99, contact us today for more information.