The UK economy is one of the strongest in the European Union, sustained by a huge market and a currency that consistently outranks the Euro. In terms of geographical location the UK is perfectly situated as a natural point of entry into Europe as well as a link to the US. British governmental policies have formed a liberal business environment which encourages investment and growth within the country. This can be demonstrated by the success of British inward investment. The country dominates Europe in terms of investment from the United States and Asia, with a significant influx of foreign companies choosing the UK to host their business operation.
It should be noted that the UK is a relatively high tax country; Corporate Tax is 30% and in general the tax regime does not offer any particular advantages of reductions or exemptions.
Company Set Up Options
There are four main types of company to establish in the UK. Each has a number of different features suitable for all sizes and types of business:
- A small Branch providing a local office in the country
- The most popular and commodious business vehicle the Private Limited Company (Ltd)
- The larger capacity Public Limited Company (PLC) for a greater presence
Universal Company Incorporations will expertly advise you about the type of company best suited to your expansion plans. We will work with you to understand your expansion needs and accurately address them, ensuring that you take advantage of the benefits on offer. Our support will allow you to focus your valuable time on running your business efficiently and maximising your return.
The UK government has widely liberalised the business environment to maintain and improve the amount of investment from foreign businesses. This makes the regulatory climate relatively relaxed concerning the foreign ownership of companies in the UK.
However, this does not extend to all business sectors. Areas such as financial services are fiercely protective of the consumer and so are stringently regulated. Other regulations that are in place include the prevention of exploitation and the protection of monopoly powers.
Banking Facilities and Financial Incentives
Banking in the UK is sophisticated and well developed. The City of London boasts one of the principal financial centres globally, with representation of all the major international banks. The business community is well serviced by these excellent banking facilities, and there is a significant focus on service quality. There is still a lot of bureaucracy to be aware of, however, and so some processes, such as opening a bank account, are laborious.
As you would expect from a business environment focused on foreign investment, the UK offers a number of financial incentives to further encourage investment into the country. These are mainly available to businesses that are looking to set up in certain sectors of the UK. Grants specifically related to creating jobs outside of London and the South East, Research and Development, export credit guarantees, and export technical assistance are available.
Universal Company Incorporations are familiar with all the regulations and bureaucracy of UK banking. We will manage all your banking requirements on your behalf to ensure you have all the facilities you require for your financial management. Our team will also ensure that you benefit from any financial incentives that apply to your business and its UK company.
Finding local employees to staff your company will not be difficult in the UK. The recruitment sector provides well educated and reliable workers, and is flourishing despite the fact that unemployment has been decreasing steadily over the past ten years.
Universal Company Incorporations can help you find the right people to help your business continue growing and developing. Our contacts in the recruitment industry are experienced in recruiting staff for corporations and will save you time and money by identifying people of the right skill and calibre on your behalf.
Universal Company Incorporations is always on hand to guide you through all of the stages of forming a new enterprise or expanding an existing company in multiple countries. Please don’t hesitate to call us on +44 (0) 20 8421 7480 or contact us via the website for help and advice.