The UK has attracted international investment for many years, thanks to its completely loyal business environment. The state is among the top ten countries in which they strongly encourage small and medium-sized businesses, and all conditions have been created for doing business here. Today, your business in the UK is an indicator of prestige, stable income and profitable capital investment. What are the advantages of starting a business in the country, and what is needed for doing business in the UK, then we will look more closely.
Why is a UK business profitable?
There are many important advantages that contribute to the development of business in the state, the main ones are:
- Developed economy.
- Simplified tax system.
- Stability (both political and economic).
- Profitable loan programs.
- Developed banking system.
- Reliable capital protection.
- Established international relations.
For many businessmen, starting a business in the UK is an opportunity to obtain a residence permit, and subsequently citizenship.
The state welcomes the infusion of foreign capital, and in every possible way promotes the development of business in the country.
Types of business registration in the UK
As in any other country, in the UK there are several basic forms of doing business. Depending on the profile of the companies, the services provided, and the scale of the enterprises, there are:
Individual entrepreneurship. This is the most common type of business design. Here, a private entrepreneur himself conducts business and all the necessary reporting.
Limited liability companies. It is easy to draw up in the UK, it’s enough to prepare the necessary documents, work on the company’s charter and get taxpayer status.
Partnerships. Many foreign entrepreneurs work closely with local organizations, providing them with their services. Small communities are created that are mutually beneficial for both parties; in this case, foreign citizens do not have to live in the territory of the country.
The entrepreneur can only choose the form of doing business and prepare the necessary documents.
How to register a business?
An entrepreneur, in order to formalize his business, must:
- Call the company.
- Register the address (legal).
- Sign the Memorandum.
- Provide the size of the share capital.
- To consider the charter of the enterprise.
- To register an enterprise, it is necessary to apply to the Registration Chamber, after which a corresponding certificate is issued.
In the UK, a number of special programs and organizations have been created to support and develop business, such as the National Enterprise Networ, NI Business Info, where you can ask for help.
The main condition for doing business in the UK is a work visa. This is perhaps the only difficulty that may arise in the way of setting up a business in the country. However, there are a number of provisions that can be used to circumvent this condition, for example, a partnership, or an EU visa.
For EU citizens, and for those who have a visa of the European Union, a number of regulations work that simplify doing business in the UK. You can consult with experts to avoid additional costs. Work visa in the country is expensive, and its design takes a lot of time.
Thanks to simplified taxation and all kinds of business support, the UK continues to occupy a leading position in attractiveness for foreign capital. It is easier and more profitable to conduct business in this country than in a number of other European countries.