Corporate Legislation Source Common Law – Companies Act 1985 &1989.
Company Status Private Company Limited by Shares.
Advantages Very Popular choice due to its common law base and relative cheapness compared to European jurisdictions. The UK is no longer a tax haven in the true sense of the world the UK enjoys lower corporation tax rates than many of the competitors.
Disadvantages Audited accounts must be filed each year with Companies House if turnover exceeds over 350K p.a..Corporation tax of profits rather than flat rate.
Capital 2.00 Min
Company Name No prior approval required, any name that is not in use is usually permitted, companies must end in Limited and “Royal”, “Imperial” etc must be justified.
Incorporation Time 7-10 working days.
Shelf Companies Yes available
Capital Duty None
Shareholders Min One – Private Company Min 2 – Public Company
Bearer Shares Yes these are permitted providing there are held by the custodian.
Directors Min 1
Secretary Yes mandatory
Registered Office Yes required
Information available on public file Articles, Directors, Secretary, Shareholders, Registered Office, Charges & Accounts.
Documents to be held at Registered Office Registers of Directors and Secretary.
Accounts These are required and must be filed on a yearly basis.
Annual Return Yes this is required.
Double Taxation Treaties Plentiful