As the 6th largest economy in the world and one of the key members of the Group of 7 nations, the UK is an extremely attractive jurisdiction in which to set up business in, granting access to not only the European market, but also the larger global market. With the myriad of benefits of doing business in the UK, more and more Indian investors are hence opting to register company in UK from India in order to expand into the European market. If you are an Indian resident wondering about how to begin going about the process to register company in UK, Tetra Consultants has written this comprehensive guide for you so that you may complete the incorporation process smoothly and begin business operations as soon as possible.
Steps to register company in UK from India
[ps2id id=’step1′ target=”/]Step 1: Choose a suitable business entity
- There are various forms of business entities available in the UK to choose from, each with different requirements. The available options include the Limited Liability Company (LLC), Public Limited Company (PLC), Limited Partnership (LLP), Branch Office, Representative Office.
- We usually recommend that you pick a private limited liability company as it is suitable for foreign owners due to the minimal incorporation requirements and asset protection.
- Tetra Consultants’ team of dedicated professionals will first fully understand your business’ intended activities, needs, and goals, before recommending the most suitable business structure for you. You will also be advised on the optimum paid up share capital, compliance measures and any business licenses you may need.
Step 2: Reserve a business name
- The next step is to select a name for your business, which must be unique and comply with the guidelines laid out by the UK Companies House. Tetra Consultants will then proceed to reserve your preferred company name with the Companies House.
Step 3: Prepare supporting documents for incorporation
- Before beginning to submit the application for registration, you will need to provide documents for KYC due diligence checks. Some of these documents include the names of directors and identification proof of the applicants.
- After receiving all mandatory documents, Tetra Consultants will then draft and notarize the company’s Memorandum and Articles of Association.
- According to the business activity and company structure, Tetra Consultants will also draft articles of incorporation, business plan and other incorporation documents.
Step 4: File to register company in UK from India
- Tetra Consultants will then proceed to file for registration with the UK Companies House.
- After receiving approval, Tetra Consultants will courier the company registration certificate, Memorandum and Articles of Association and other documents to your preferred address.
- If needed, Tetra Consultants will also assist your new business in registering for VAT, PAYE and other tax considerations with the UK tax authority, which is the HM Revenue & Customs. Within 1 week, Tetra Consultants will provide our international clients with the tax numbers.
Step 5: Open a corporate bank account
- After registration, Tetra Consultants will assist you in opening a corporate bank account. Our team has established partnerships with multiple reputable banks in both the UK and globally. We will present your business to each relationship manager and compliance team.
- Since you are planning to form a company incorporation in UK from India, you are advised to set up a corporate account with reputable overseas banks or a Indian bank instead of UK banks. This is due to the recent changes in requirements by UK banks for business account opening, where most UK banks will prefer to open accounts only for businesses with a UK director and physical office address in the UK, as well as UK customers or suppliers.
- Typically, the account opening will take roughly 4 weeks. In most cases, you will not be required to travel to the jurisdiction for the process even if it is an overseas bank. However, if travel is required, we will have a representative accompany you to the bank meeting. Alternatively, our team will negotiate with the banks to conduct a conference call instead or to request a waiver.
- Once your account has been successfully opened, Tetra Consultants will courier the internet banking token and access codes to your preferred address.
Step 6: Meet financial reporting and taxation obligations
- After setting up your new corporate home and bank account, Tetra Consultants will continue to provide you with the necessary accounting and tax services to ensure that you can continue to legally conduct business while staying compliant with UK regulatory obligations.
- Our experienced team of accountants will assist you in preparing the necessary financial statements, corporate tax returns and manage bookkeeping on your behalf.
- For private UK businesses, annual filing will need to be completed within 9 months after the accounting reference period ends. However, for public UK firms, it must be within half a year for public UK firms.
- Our team of dedicated consultants will continue to clarify any doubts you may have with regard to your company’s obligations so that you are able to stay fully compliant.
How Tetra Consultants can help you register company in UK from India
Although registering a company in UK from India may seem like an intimidating process as a non-resident, with Tetra Consultants’ experience in helping multiple Indian clients successfully set up in the UK, the registration process will be completed with no hassle within 2 business days. You will be able to begin your business operations in the UK as soon as possible with no fear of non-compliance.
Contact us now to find out more about the comprehensive range of services we offer to open a company in UK, and our dedicated team will revert within the next 24 hours.