REGISTRATION OF COMPANY IN GREAT BRITAIN
|Registration of offshore companies in Great Britain is the good opportunity to spread your activities in the countries of EU. England is characterized by permanent law system. The main laws which regulate the business of companies which are situated in the UK are:
1. Companies Act or The law “About companies”, which was projected in 1985, with all amendments.
2. The Income and Corporation Taxes Act – the law, which explain the level of Taxation VAT and TIPI, terms and etc. The law was projected in 1988.
The company “Law and Trust International” work with residents and non-residents of the UK, we can help with the registration of the company in Great Britain according to all necessary laws. We will support you during the whole process of registration.
The business in Great Britain has a little number of permission, but you have to correspond to all rules. In that article you may find some part of information about the registration of offshore company, but for getting the detailed instructions you have to visit consultation with the lawyer of our company.
Business in Great Britain:law – organization forms
Private Companies limited by shares
Private Unlimited Companies
Private Companies limited by guarantee
Public Limited Companies
Limited Liability Partnership
The most popular form of company registration in Great Britain is the analogue of Close Type Limited Liability Company. Here are some features of it:
1. The shareholder or shareholders are responsible only for amount, framed by the cost of shares, which are signed or payed by shareholder.
2. This legal form can be used in any sphere, permitted by the UK legislation/
3. The special certification procedure take place in case of founder’s willing to create company in England in the spheres of insurance, bank activity and finance.
4. Any legal of physical person of any citizenship can be a business founder in Great Britain. The same is about the company secretary.
5. The name of company must be unique, written in state language and finished on LTD or Limited.
The majority of requirements are the same to another legal forms, except the requirements of founders and shareholders quantity. The Closed Joint-Stock Company registration procedure needs only one director and one shareholder, that can be the same person. The amount of nominal capital is not strictly framed by legislation.
The Open Joint-Stock Company registration procedure needs not less than two shareholders and one director. The amount of nominal capital is not strictly framed by legislation unless it must be not less than 50 thousand pounds.
COMPANIES IN ENGLAND: KINDS OF PARTNERSHIPS
The Limited Partnership Offshore Company foundation in England is made by one or a few of partners. The director can only posses by physical person, the founders can be both legal and physical persons. The responsibility of shareholders is framed by the debts and commitments of company.
If all shareholders are not the residents of UK, the registration department can sent a refuse to founder. In this case the LLP company registration should be taken in attention.
Limited Liability Partnership
The founders and directors can be both legal and physical persons. The citizenship is not matter. All participants take the responsibility in frames of the debts and commitments amount sent before
The analogy during the registration of business in Great Britain of two above mentioned forms is represented by the necessity of Founders Agreement creation. Minimal number of partners comprises two persons, and the maximum one comprises 20. The official documents registration is held in the local Companies House. The registered capital fee isn`t required.
Company registration in England according to the partnership form with limited responsibility implies assignment of two partners for supporting the connection with the bodies of a country. Such entities are called designated members and can be assigned from the number of citizens or non-residents.
Responsibilities of such partnership members include:
1. Auditors designation and checking of their work quality.
2. Checking, signing and handling of yearly accounts addressed to the off-shores recorder in England.
3. Recorder`s announcement concerning all the changes of partnership structure, its address or name.
The partnership with limited responsibility is considered to be the off-shore company in Great Britain and is not a subject of taxation. All the members can pay state fees according to the form 2-TIPI as natural persons at the place of their own registration.
Non-residents of the country don`t pay the taxes, but there are some items, that suppose the local taxation of the LLP after their accomplishment. The details about this Regulation and also about the specifics of the agreements concerning double taxation can be known at a lawyer’s counsel of the LAW&Trust company.
DOCUMENTS FOR REGISTRATION AND ACCOUNTING OF A COMPANY IN ENGLAND
Following types of documents are obligatory for signing introduction: Founders Agreement, Articles of Incorporation, declaration (the form number 12) and the protocol from the first meeting of the committee of directors. It`s also necessary to add the check naming the state fee and briefing paper which confirms the legal address. The office can be situated in Wales, Scotland or England.
For the registration of a company in England at the LTD type the audit is obligatory only in the case when the owner of 10 or more percent of the company actions asks for them in writing. Moreover, audit and accounting are obligatory for the firms with avails of more than 6,5 million per year in local currency terms.
The lawyers of the Law&Trust company perform the clients` defense on every step of the registration and after the firm establishment. The information about accounting, taxation fees and conditions of the offshore organization in England can be given personally.
|SET OF DOCUMENTS|
|NOMINEE DIRECTOR AND SHAREHOLDER|