What are some of the businesses you can start online as a non-UK resident from the comfort of your own home?

As a non-UK resident, there are numerous online businesses you can start from the comfort of your own home. Before starting any online business, it’s important to research the market, understand the legal requirements, and create a solid business plan. Additionally, consider leveraging the power of online tools, platforms and businesses to streamline your operations and reach a global audience. Here are some ideas:

1. E-Commerce Store:
   Set up an online store and sell products through platforms like Shopify, Etsy, or Amazon. Dropshipping is a popular model for those who don’t want to handle inventory.
2. Freelance Services:
   Offer your skills as a freelancer in areas such as writing, graphic design, programming, marketing, or consulting.
   Platforms like Upwork, Freelancer, and Fiverr connect freelancers with clients globally.
3. Affiliate Marketing:
   Promote other people’s products and earn a commission for every sale made through your referral. Choose a niche you are passionate about and build content around it.
4. Online Coaching or Consulting:
   Share your expertise by offering coaching or consulting services. Platforms like Zoom or Skype make it easy to connect with clients globally.
5. Virtual Assistance:
   Provide administrative support services to businesses or entrepreneurs. Tasks may include email management, scheduling, and customer service.
6. Stock Photography:
   If you’re skilled in photography, sell your photos to stock photo websites. This can be a passive income stream over time.
7. Social Media Management:
   Help businesses or individuals manage their social media presence. Offer services such as content creation, scheduling, and engagement.
8. Virtual Events Planning:
   Plan and organize virtual events, conferences, or webinars. Offer your services to businesses or organizations looking to host online events.
9. Fitness Coaching:
   Become a virtual fitness coach, offering personalized workout plans and guidance. Conduct sessions via video calls or create pre-recorded workout videos.

What do you need to start a business in the United Kingdom as a non-UK resident?

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). Here are the requirements to start a business in the United Kingdom as a non-UK resident but you may also require additional services such as accounting to run your company smoothly:

1. 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.
2. 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 18, undischarged bankrupt or disqualified from acting as a company director.
3. 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.
4. 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.
5. 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.
6. 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.
7. Corporation Tax: The company must be registered with HMRC when they begin trading.

What are some of the things to keep in mind when starting a business in the United Kingdom as a non-UK resident?

Starting a business in the UK as a non-UK resident involves navigating certain considerations to ensure a smooth and successful venture. Having a good support in business admin services can help alleviate some of bureaucracy that comes with operating a successful business in the United Kingdom but here are some key things to keep in mind when you decide to try and do everything on your own:

1. Visas and Work Permits:
   If you plan to work in the UK, understand the visa and work permit requirements for non-resident entrepreneurs.
2. Banking Solutions:
   Explore banking options suitable for non-residents. Collaborations between service providers, like 1Office and Wise, can offer integrated solutions for smoother transactions.
3. Tax Implications:
   Be aware of UK tax regulations and how they apply to your business. Consider seeking advice from a tax professional to optimize your tax strategy.
4. Accounting and Reporting:
   Understand the requirements for filing annual accounts and other mandatory reports.
   Consider engaging with local accountants who specialize in working with non-UK residents.
5. Brexit Implications:
   Stay informed about any changes in regulations or procedures related to Brexit that may impact your business.
6. Legal Requirements:
   Ensure compliance with UK laws and regulations. Understand the specific requirements for non-UK residents in terms of company registration and operations.

How to get started with forming your very own business in the United Kingdom?

Starting a company in the UK through the My1Office Portal is very easy and inexpensive. For a basic minimal setup, the cost to register a company is only £13.50/month (paid annually). Since our main focus in developing My1Office was to offer a simple solution for entrepreneurs and future business owners a platform where they can create their company, manage it and have everything under one roof, the cost of running a company through My1Office is low and one of the best on the market.

Follow the steps below to launch your business in the UK:

• Step 1 – Choose a suitable name for your company using the “Company Name Checker”
• Step 2 – After finding a suitable name click on “Register your company” , create a free account and log in.
• Step 3 – Fill in the application with some information about your company and yourself.
• Step 4 – If you want a bank account for your business add Wise IBAN account to your order at the end (account includes IBAN and debit card). Just check 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 also add additional services like tax registrations and accounting.
• 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.