The UK is a very attractive place to do business for a number of reasons, including a developed and established consumer market, sound legal landscape and language benefits. In addition, the fact that it is easy to setup a company or incorporate also encourages many people to choose the UK as a place of business.

There are a number of common issues that are raised by non-resident individuals when contacting us, including:

1. Can I set up a company in the UK even though I am non-resident?You can easily setup a company in the UK even if you are not resident here.  There are no legal rules that restrict this.  Of course if you intend to come to the UK to work you will need to consider your right to work here and any Visa issues.  You should obtain advice from this separately.
2. Do I have to visit the UK to form a limited company?It is not necessary to visit the UK to set up a company, although a visit can sometimes be required for other reasons.
3. Will I be able to open a bank account in the UK?Over the last year or so, many of the UK banks have tightened the rules for businesses with non-resident directors.  It can therefore now be more difficult to get a UK account.  Should this not prove possible the company can often open an account in the Director’s country of residence instead.  Wisteria Formations has no control over the bank’s decision whether or not to allow you to open an account.
4. Can I be a shareholder and Director if I am non-resident?There is no problem with this from a legal perspective.  You may however be liable to UK tax on any income from the company.  You are advised to seek advice from the company’s accountants.
5. I don’t know anyone in the UK.  Can you help me to find a bank, lawyer, virtual office etc?Whilst we cannot provide these services directly, we are happy to put you in touch with advisers and relevant professionals who our clients have worked with in the past and who provide the type of service you may require.  We do not formally endorse any such referrals and it is of course up to you to undertake your own due diligence.

If you have any other questions about forming a limited company in the UK, please contact our customer support team who will be pleased to assist further.  They can be contacted on 0844 893 0808 or by email at formations@wisteria.co.uk