10 steps to incorporating in the United Kingdom
Please find below information on the steps followed by our Firm to assist our Clients complete their United Kingdom business setup projects. The steps below mainly apply to a limited liability company (locally known as a private company), but feel free to contact our team for information for other types of business entities.
- Healy Consultants Group PLC i) collects Know your Customers documents on the expected shareholders, directors and ultimate beneficial owners of the UK entity and ii) advises our customer regarding the optimal type of entity to setup;
- After settlement of the engagement fees (payable by instalments), Healy Consultants supplies i) a detailed project plan for the UK business setup project and ii) draft a business plan to ensure we understand fully the activities of our Clients and licensing obligations (if any);
- There is usually no need to open a capital account for a UK company, provided the issued share capital of the entity is low (usually below £100). If our Client prefers the entity to be registered with higher amounts, it is then necessary to open such account and the same takes at least four weeks.
- Our Firm i) reserves the preferred company name of the business with the UK Companies House then ii) supplies our Client with the incorporation forms (IN01) for his signature;
- The registration application is then filed with the Companies House. Our Firm also contacts the UK tax office (HMRC) for VAT and PAYE registrations of the entity;
- The Companies House issues a certificate of incorporation of the entity.
- Once UK company setup is completed, the company can apply for corporate bank accounts with UK and worldwide banks. Most of our Clients also request us to assist with this step: with Healy Consultants’ help, you need not have to travel to complete the process;
- If required, our team will also assist our Clients to i) find business premises and ii) recruit both local and foreign employees. This page includes more details on our recruitment services;
- When legally required, Healy Consultants will assist our Clients to secure regulatory licenses. Timeframes and requirements vary across industries. Our Firm will let you know if we expect a license could be required for your United Kingdom business;
- After engagement completion, our team couriers to our Client a complete company kit, including all corporate documents of the entity. We also welcome client feedback on what we did well and what we could improve through a “customer feedback” survey.
Documents required for incorporation
Documents required include i) company name, address and business activity ii) details of director and secretary iii) share capital and shareholder details iv) details of the persons with significant control and v) standard industry classification (SIC code).