UK Company Incorporation – Steps to Take
Before you incorporate company in UK, Tetra Consultants advises you to read through this guide to fully understand the steps required.
Simply put, we can break down each engagement into four different phases:
- Planning & strategy
- Bank account opening
- Staying compliant
By systematically following the above three phases, you can expect to start conducting business with your UK company within 5 weeks.
Planning & strategy
- Depending on your business goals and activities, Tetra Consultants will recommend the most suitable business entity. Prior to incorporating a UK company, you will be advised on the optimum paid up share capital, corporate structure and whether there is a need to apply for any licenses.
- Before Tetra Consultants can incorporate a company in UK, you are required to provide a list of required KYC documents. Some of these documents include passport copies and proof of address of the directors and shareholders.
- If you are planning to appoint a corporate shareholder, we will require the certificate of incorporation and memorandum & articles of association.
- Tetra Consultants reserves your preferred company name with the UK Companies House. According to the business activity and corporate structure, Tetra Consultants will draft articles of incorporation, business plan and other incorporation documents.
- Prior to UK company incorporation, you will be provided a local company secretary and registered office address. If you are looking to own a local physical office, we will assist in sourcing and preparing the lease agreement as per local regulations.
- Once the documents are ready, we will proceed to file for registration with the government. You can expect Tetra Consultants to incorporate company in UK within 2 business days.
- After company incorporation, Tetra Consultants will courier the Certificate of Incorporation, Memorandum & Articles of Association and other corporate documents to your preferred address.
- If required, Tetra Consultants will proceed to register for VAT. Within 1 week, Tetra Consultants will provide our international clients with the tax numbers.
Bank account opening
- Simultaneously, Tetra Consultants will proceed to open a corporate bank account for your newly-incorporated company. You can enjoy leveraging on our extensive banking network and receive your bank account numbers within 4 weeks.
- Tetra Consultants will contact multiple reputable international or UK banks and present your business to each relationship manager and compliance team.
- Over recent months, UK banks have become stricter in terms of the bank account opening requirements. Most UK banks require your UK company to have appointed a UK director and have local substances such as physical office or customers or suppliers.
- If you are planning to conduct offshore business with your UK company, Tetra Consultants will recommend you to open corporate bank accounts with overseas reputable banks. As much as possible, you will not be required to travel overseas for the bank account opening process.
- Once your account is opened, Tetra Consultants will courier the internet banking token and access codes to your preferred address.
- You can be confident you are in the best hands when Tetra Consultants undertakes your UK company’s accounting and tax services.
- Tetra Consultants will timely prepare your firm’s financial statements, corporate tax returns and bookkeeping on your behalf.
- Tetra Consultants will complete all annual filings and tax returns for your company before the stipulated deadlines set out by the government.
- If you plan to be physically present and working in the UK, Tetra Consultants will secure a UK work permit for you.
Contact us to find out more about how to incorporate company in UK. Our team of experts will revert within the next 24 hours.