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United Kingdom Company Formation Frequently asked questions (FAQs)

1. Do I need to reside in the UK to have a company?

You do not need to be a UK individual to have a limited company. A foreigner can have 100% ownership of the UK company.

2. United Kingdom (UK) Private Limited (LTD) or Limited Liability Partnership (LLP) Company - How it works?

How to Setup your UK Offshore Company Formation?

Step 1 UK Offshore Company Formation, initially Our Relationship Managers team will ask you have to provide the detailed information of the Shareholder/Director's names and information. You can select level of services you need, normal with 2 working days or a working day in urgent case. Furthermore, give the proposal company names so that we can check the eligibility of company name in Company House system.

Step 2 You settle the payment for Our Service fee and official UK Government Fee required. We accept payment by Credit/Debit Card Visa Visa Discover American , Paypal Paypal or Wire Transfer to our HSBC bank account HSBC bank account (Payment Guidelines).

Step 3 After collecting full information from you, Offshore Company Corp will send you a digital version (Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles etc.) via email. Full UK Offshore Company kit will courier to your resident address by express (TNT, DHL or UPS etc.).

You can open bank account for your company in European, Hong Kong, Singapore or other jurisdictions supported offshore bank accounts! You are freedom international money transfer under your offshore company.

Your UK Company formation completed, ready to do international business!

3. What is a business secretary?

A business secretary is by and large named to take care of a percentage of the executives' obligations, for example, keeping up and documenting statutory registers and organization records. Moreover, the Secretary company will provide a business address for you.

4. What are the main differences of LLPs between limited companies?
Private Limited by Shares LLP
Can be registered, owned and managed by just one individual – a sole person acting as both the director and shareholder A minimum of two members are required to set up an LLP.
The liability of shareholders or guarantors is limited to the amount paid or unpaid on their shares, or the amount of their guarantees. The liability of LLP members is limited to the amount each member guarantees to pay if the business runs into financial difficulty or is wound up.
A limited company can receive loans and capital investment from outside investors. An LLP can only receive loan capital. It cannot offer equity shares in the business to non-LLP members.
Limited companies pay corporation tax and capital gains tax on all taxable income. LLP members pay income tax, National Insurance and capital gains tax on all taxable income. The LLP itself has no tax liability.
You need to inform the Secretary company for each time changing of director, shareholder. It is easier to change the internal management structure and distribution of profits in an LLP.
5. What is difference Virtual Office address and Registration Address Services with my company?

Registration Address only receive mailing from local government authority related to your registration, annual return and tax return (if any for some jurisdiction).

Virtual address service allows your company to have a local address and to receive mail there, sometime you can have a local phone number, which, in some cases, can lend more credibility to your company.

6. If I do not want my name shows up, how can I do that?

Offshore Company Corp can also provide a nominee director and a nominee shareholder to protect your privacy. Nominee non-beneficiary, non-executive and just name only on paperwork.

7. How long does it take to get VAT and tax number for the UK company?

Unique Taxpayer Reference (UTR). You’ll get an activation code in the post within 10 working days of enrolling (21 days if you’re abroad). When you have your code, sign in to your online account to file your return online. https://www.gov.uk/log-in-file-self-assessment-tax-return/register-if-youre-not-self-employed

Value Added Tax (VAT) usually takes at least 3 weeks to obtain.

8. Timeframe and minimum requirements for setting up a UK Private Limited Company/ LLPs?

The minimum requirement to form a UK Private Limited Company (LTD) is at least one shareholder and one director, who can be the same person. For the LLPs, at least 2 members must be provided. Offshore Company Corp will provide a registered office address and secretarial services. It normally takes 2 working days to form a new company

In order to set up a UK Private Limited Company, Offshore Company Corp will need:

  • Passport of each shareholder/beneficial owner and director
  • Proof of residential address of each director and shareholder (Must be in English or certified translation version)
  • A SIC which has the closest description to your business activity
9. What are the business activities that I am allowed to register with The Companies House?

A SIC code is a Standard Industrial Classification code. These are used by Companies House to classify the type of economic activity in which a company or other type of business is engaged. This information must be provided by all companies and LLPs at the time of company formation, regardless of whether the business will be active or dormant.

SIC codes must then be confirmed or updated on an annual basis when the company files its confirmation statement (formerly the annual return)

10. What happens if I provide the wrong SIC code for my limited company?

You will just inform Offshore Company Corp who is the Secretary company to update the SIC for your company.

11. Why should I use Offshore Company Corp to form my UK company but not other provider who has lower fee?

Our professionals have more than 10 years’ experience in offshore consultancy. During this time we have been able to develop a network of offshore service providers that remains unparalleled.

We provide tailor-made advice to our clients, fully integrating the latest laws.

We are one of the most competitive offshore providers.

After the company is formed, our professional advisory team will always advise you. We provide customer support 24/7.

12. After finish registration, what will I get?

A hard company kit (Certificate of Incorporation, Memorandum of Association, Register of members, etc...) which will be delivered to your residence.

A business registration address and secrecterial services from Offshore Company Corp.

Your company information can be found on the official website of the Companies House

13. When should the annual return be delivered?

The annual return should be delivered to the Registrar of Companies for registration within 42 days after the company's return date. Different types of companies have different return date.

A Private Company should, except in the year of its incorporation, deliver an annual return in respect of every year within 42 days after the anniversary of the date of the company's incorporation.

14. My company is inactive-- do I still need to pay corporation tax as well as submit an income tax return?

If your business is presently not operating, investing or continuing company tasks, HMRC considers it inactive for corporation tax return objectives. In these circumstances, your business is immune for corporation tax and not needed to submit a business tax return.

In many cases, an inactive firm might still be responsible for corporation tax if HMRC sends out a 'Notification to supply a business tax return'. It could put on a recently operating that comes to be inactive throughout its corporation tax bookkeeping duration. If this occurs, you just submit a tax return within a year of the completion of your tax return duration.

A limited business that is inactive ought to notify HMRC when it does end up operating fully. You have 3 months from the beginning of the tax return accountancy duration to let HMRC recognise it is active, and also this could be conveniently done utilising HMRC's on-line enrollment solution or by offering the pertinent details in creating.

15. How do I shut my business?

A business could be closed a variety of means. If your firm is bankrupt, you might request to strike off the Companies Register or you could begin a participants' volunteer liquidation. Otherwise, the company must be in good condition if you want to close it. The procedure will be done by your secretary company.

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