UKGENERAL INFORMATION |
|
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 |