Can a non-UK resident form a UK limited company?
Company formation for non-UK residents is the same as for residents living in the UK. There are no restrictions on foreign nationals being a UK company director, shareholder, or secretary. You even do not have to live in the UK.
However, the company will need to be registered with Companies House in England and Wales, Scotland or Northern Ireland (depending on the location of the company).
Requirements for registering a UK Limited company:
- Company Name: You need to make sure that your desired company name is available and different from an existing name, it also shouldn’t contain any sensitive words. You can search for available names in 1Office Portal.
- Director: Only one director is required for the company formation. There is no limit to the number of directors you can appoint. You cannot be the company director if you are under the age of 16, undischarged bankrupt or disqualified from acting as a company director.
- Shareholder: Only one shareholder is required. There is no limit to the number of shareholders you can appoint. Can be an individual or a corporate body, can also be the director. During the company registration, you will need to apportion a certain number of shares to each shareholder.
- Registered address: This address must be in the UK and will appear on the public register. All statutory mails from Companies House and HMRC will be sent to the registered office address. Our Virtual Office services include using our address as your registered office address.
- Directors service address: Each director, secretary and PSC must provide a service address for Companies House. This address can be located anywhere in the world but it will be on public record. Ordering directors service address is a good opportunity to keep your own home address private from customers, suppliers and other third parties. Any legal documents addressed to the directors of the company will be sent at this address.
- Filing and reporting: Companies are legally required to submit annual accounts and a Confirmation Statement (previously called an annual return) every year. If you require any help our UK accountants are at your service.
- Corporation Tax: The company must be registered with HMRC when they begin trading.
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Cooperation between 1Office and Wise
And now some additional information about registering your company together with a banking solution. Thanks to the new cooperation between 1Office and Wise company formation for non-UK residents is now easier than ever.
If you don’t own a company yet, the best option is to go to 1Office Company Formation Portal and start your company there. It’s a fully online platform with simple forms and the logical processes taking you from nothing to owning a company with an IBAN account, address and accounting in less than 20 minutes. Starting a company inside the portal is much easier than in Companies House – just fill in some information about yourself and your company, add additional services and you are done! Adding a Wise IBAN account directly from the Portal makes it much easier to start your business activity fully from the distance – no need to come to the UK and visit different banks. With 1Office you can get a Wise IBAN account without any hassle. Every client coming from 1Office is treated as a trustworthy entrepreneur and therefore opening your account is easier and faster. The account includes IBAN and debit card and is therefore perfect for business owners doing business across borders.
If you already have a company but need a banking solution, you can apply here.
Company registering process in the UK Company Formation Portal
Starting a company in the Portal is very easy and inexpensive. Registering a company with a Wise IBAN account will cost you only £13.50. Portal is suitable for both locals and foreigners as it is possible to do everything online. Here’s a little step-by-step guide how to do it:
- Step 1 – Go to the Company Formation Portal and choose a suitable name for your company
- Step 2 – Create an account and log in.
- Step 3 – Fill in the application with some information about your company and yourself. It takes only 20 minutes to fill out the application and your company will be registered within 2 business days.
- Step 4 – Add Wise IBAN account to your order with one click. After filling out the application you get a choice to add a Wise account to your order (account includes IBAN and debit card). Just mark the option and exact instructions about your account will be sent to you after the company is established. You will then need to wait for your account to be verified by the Wise team (can take up to 3 working days).
- Step 5 -You can add additional services like address service and accounting with one click. You can read more about address service and its prices below.
- Step 6 -We will do everything else for you and you just have to wait for the confirmation email from Companies House. Your company will be officially registered in 2 business days.