Expanding Your Business to the UK? Here’s All You Need to Know

The UK has always been an enticing option for business owners that were looking to expand. The country has beneficial foreign investment policies such as competitive tax rates, which are business-friendly and the lowest among the G20 nations. Their employment laws are also very flexible, and they have a simple and straightforward planning process where 90% of all planning applications are approved. These incentives make the UK a lucrative option for immigration business owners.

Suppose you’re an international business owner who’s looking to invest and sell goods and services in the UK. In that case, you need to be armed with plentiful information about their trade agreements, especially in the wake of the UK’s departure from the EU.

Here’s all you need to know about UK laws before you think of expanding your business to the UK.

Registering a company

There are three ways to register a company in the UK; as a sole trader, a limited company, or a partnership.

A sole trader’s responsible for all company debts, whereas, in a partnership, the liability of debts is shared among all business partners.

If you don’t want to create a separate legal entity in the UK, you can register your company’s branch to do business in the UK. Registering a business takes four weeks, as your company needs to submit documents to Companies House.

Registering your business means you will not be eligible for limited liability benefits, which are offered to private limited companies.

Renting or leasing property

There are many properties available for leasing and renting in the UK. Serviced offices are advantageous for small business owners as they offer flexible infrastructure, internet access, and beneficial rental agreements.

For larger companies, the UK has efficient ways to get a construction permit to build, expand, or relocate.

Forming a private limited company allows you to set up your company as a separate legal entity in the UK. The process of registering your private limited company requires less than 24 hours and is online.

Requirements to incorporate a business in the UK

The incorporation process requires a name and UK address for the company, a director who can be an international resident, and a shareholder, a person, or company. It is helpful to have resident directors and shareholders for opening a UK business bank account.

Secondly, you require a ‘memorandum’ and an ‘articles of association.’ Both these documents have a standard template available online, or you can have a professional create one for you.

The effect of Brexit

The UK exited the EU on 31 January 2020 and is in a transition period till the end of the year. The new rules will be applied from 1 January 2021. They will not affect the process of setting up your business in the UK as the country doesn’t have any nationality restrictions for business owners of companies in the UK.

There are many legal issues that you need to consider before expanding your business to the UK. If you’re feeling overwhelmed with the requirements and large body of information available, Wembley Solicitors is here to help.

We offer our legal services at a fixed-fee, meaning no hidden charges will sneak up on you. Our high success rate is due to a highly trained and experienced team. We have the best immigration lawyers in London. They will help you with all immigration visas such as work visas, resolve issues of a commercial lease, and judicial reviews. To benefit from our immigration solicitors’ expertise in the UK, call us at 02034173700 and take the first step in setting up your own business in the UK.