Registering a company in the UK from India has multiple benefits and has been an attractive option for business owners all around the world. Here are the steps to register your company in the UK from India. In this article, we shall answer your question of how can I register my company in UK from India.
One of the plus points of registering your company in the UK is that the director can stay in India. However, the process is complex and a lot of eligibility criteria have to be met before registering your company in the UK.
How Can I Register My Company In the UK from India: What Are the Documents Required for Registering a Company in the UK?
You need the below-listed documents for incorporating a business in the UK
- Constitutional documents
- Memorandum Of Association
- Company name
- Company address in the UK
- Capital statement
- Primary officer’s details
- A person with significant control
The constitutional document ensures the company’s business is valid, effective, and contains all the details of the administrative provisions and functions. Information regarding the general meetings, shares, appointment of directors, and their resolutions are also mentioned in the document.
A Memorandum Of Association (MoA) is a short legal document representing the owner’s intention to form a company in the UK.
How Can I Register My Company In UK from India: Procedure to Register a Company in the UK
The UK company formation procedure starts with registering your company with the companies house in England. The registration point varies as per the location of your company. Sometimes you will be registering in companies houses in Scotland or Northern Ireland. Follow the steps given below to register your company in the UK from India.
Step 1: Finalise the Company Name and Address
It all starts with the company’s name. While fixing the company’s name make sure it is unique and doesn’t contain any obscene words.
After finalising the name, the next step is to find an official address in the UK, this address will be published on all the online registers. The correspondence from company houses, HM revenue, and the customs department will contact this physical address.
As per law, this physical address has to be displayed on the company’s email,websites, letter pads, and other stationeries.
Step 2: Appointing the Primary Officers
The next important step is to appoint the officers, namely the directors and the company secretary. Usually, two different directors are expected to be in a position to assure continuity in case one resigns.
Then a company secretary is appointed. This may not be mandatory, but if it is mentioned in the company’s article, it should be executed. In most cases, it should be an individual or can also be an organisation.
Step 3: Providing the Capital Statement
After providing all the basic information and documents you will have to provide the capital statement. This statement comprises all the details regarding the company shares and its valuation. Various rights enjoyed by the shareholders including voting rights, dividend rights, and capital rights, are discussed in detail in this document.
Step 4: Registering the Person With Significant Control
To improve trust and transparency a person with significant control has to be registered during the incorporation of the company in the UK. It can be an individual or a legal entity who has the eligibility of share ownership, appointment of directors, voting rights and dictates major control over the company.
Apart from this, you will also be asked to provide the director’s service address. The director’s service address can be present anywhere in the world.
Step 5: Providing Bylaws and Opening a Bank Account
After providing all the required information, you have to provide the Bylaws. The next step is to open your bank account. The bank account opening process in the United Kingdom is simple.
For this process, you will have to provide
- The ID proof for all the directors
- Complete business address of the company registered in the UK
- Contact details
- Company registration
- Estimated turnover
This step is not mandatory, however, opening a bank account in the UK is an added benefit for your business transactions. The bank account opening process in the United Kingdom demands a registered business address to protect yourself from fraudulent activity.
Cost to Register a Private Limited Company in the UK in 2022
There is very little cost involved to set up a limited company in the UK. The main charge involved is the €12 company filing fee that has to be paid for the companies house in England.
Another personal cost involves printing formal company documents on official grade paper and setting up the office or workshop. Apart from this, there are no more charges.
Advantages of Forming a Limited Company in the UK
One can enjoy many advantages when you incorporate a company in the UK. The United Kingdom has a more welcoming approach for foreign investors to start their businesses.
- Based on data published by the World Bank, it just takes 13 days to set up a business in the United Kingdom, and In Europe, it takes 32 days
- When it comes to operating a business, the World Bank ranks the UK the best in Europe
- The UK Government facilitates a business owner with multiple financial schemes that help in sizeable tax benefits
- One can claim entrepreneur relief of up to 10 million pounds on selling their business. In the UK, one can also claim tax credits against their investment in any year
- The United Kingdom stands second in the world for product market regulation and has very low restrictions for business owners and investors
- When it comes to ICT, infrastructures, and the extensive broadband market, the United Kingdom tops the charts.
FAQs – Register a Company in the UK from India
Does a UK company need a director who resides in the UK?
Not necessarily, one can also incorporate a company in the United Kingdom while staying in India or any other part of the world.
Can we register the company in the UK from abroad?
Yes, you can easily incorporate a company in the United Kingdom. However, you need a functioning address, company name, and other documents.
How much does it cost to register a small business in the UK?
The cost depends on your state and business structure. In most cases, it will be much less than $300.
How Can Vakilsearch Help You With This?
Vakilsearch can help you incorporate a business in the UK in just three steps. You have to reach out to us through vakilsearch.com, and within four business days, we can deliver all the documentation requirements.
The complex process of incorporating a business in the UK is completely simplified. We provide a holistic approach to post-registration formalities and compliance.
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