Successful Case Study of UK Company Setup
A rapidly expanding fintech company, known for its innovative financial solutions that had garnered significant success in its home country, aimed to extend its operations into the United Kingdom. Recognizing the UK as a strategic market ripe with opportunities, the company’s management team sought to capitalize on this potential for further growth. To navigate the complexities of this expansion, they reached out to Tetra Consultants for expert assistance. Tetra Consultants provided the necessary support and expertise to register company in UK, ensuring a smooth and compliant entry into this new market.
Initially, the client was uncertain about choosing the most viable business structure for their UK operations. Our experts at Tetra Consultants conducted thorough due diligence and provided well-considered advice, recommending the incorporation of a limited company in the UK. A limited company is a separate legal entity from its owners, offering limited liability protection. This structure ensures that the company’s finances are distinct from personal affairs, and profits can be distributed as dividends after paying Corporation Tax.
Once the viable business structure was chosen, we initiated the process by reserving the company name. Our team conducted thorough market research to select a meaningful and memorable name, ensuring its availability and compliance with UK regulations. Following this, our experts began the process of fulfilling various requirements and submitting the necessary information to Companies House and HMRC.
The requirements included:
- The company must have a minimum of one shareholder, which can be an individual or a corporate entity.
- The company must have at least one director.
- The company must have a registered office address in the UK.
- There is no minimum share capital requirement.
- There are no specific residency requirements for directors and shareholders of a UK limited company.
- Registering for Corporation Tax and submitting tax returns to HMRC.
- Maintaining statutory registers and records at the registered office address.
By meticulously addressing these requirements, Tetra Consultants ensured a smooth and compliant registration process, successfully establishing the client’s limited company in the UK.
After adhering to all the initial requirements, we further complied with additional documentation needs, including the preparation of the Memorandum and Articles of Association. Tetra Consultants provided comprehensive legal drafting services to ensure these crucial documents were accurately prepared. We then submitted all the necessary documentation to Companies House, ensuring full compliance with UK regulations.
After submitting the necessary documents to Companies House, the registration process was successfully completed. Our experts then proceeded with registering the company for Corporation Tax through our accounting and tax obligation services, ensuring compliance with HMRC requirements. Moreover, we also facilitated our clients Electronic Money Institution (EMI) license. In parallel, we also assisted the client with corporate bank account opening, a critical step for operational readiness. Leveraging our extensive network, we facilitated the bank account setup at HSBC Holdings, which was completed within four weeks following the incorporation.
Overall, the entire company registration process was efficient, taking just 2 days to finalize. The subsequent opening of the corporate bank account was handled smoothly and effectively in the 4 weeks of incorporation. This comprehensive support from Tetra Consultants ensured that the client’s fintech company was fully operational and compliant with all UK regulations in a timely manner, ready to embark on its business activities in the new market.
Tetra Consultants provided essential support to a fintech company aiming to expand into the UK. We guided them through the complexities of selecting the appropriate business structure, fulfilling all compliance requirements, preparing essential documentation, and facilitating the opening of a corporate bank account. Within 4 weeks and 2 days, our expertise ensured a smooth and efficient registration process. We successfully established a fully operational and compliant limited company in the UK, positioning the client for successful market entry and growth.
Contact us to know more about how you can register company in UK and our team will revert back in 24 hours.