How to start an offshore business in the UK?

The process of setting up an offshore company in the UK is easier than setting up a company in other offshore entities.

Here are the ways you can set up your offshore company in the UK:

1. Choose a name for your company:

You must choose a proper company name by selecting the right words, as some countries like the UK do not accept certain words being included in the company name. Examples of such words include Bank, Foundation, Securities, Pharmacy, Royal, etc.

2. Check its availability:

While deciding the company name ensure to check its availability. If some other company is already using your desired company name then you will not be allowed to take that particular name for your company. The best way to do this is by running a series of searches through Google and other search engines to ensure the availability of your desired company name.

3. Select an appropriate structure for your company:

There are five types of company structures that you can select for UK company incorporation. The structures include LLP, LTD, IPS, RC, and Unltd. For a business to be an LLP, all the partners need to have limited liabilities, which means that they are not collectively responsible for an individual partner's misconduct or negligence. The sale of the company shares is handled privately in an LTD. In a Unltd company, the shareholders are responsible for settling the company's outstanding financial liabilities in spite of their investment in the company. IPS companies are referred to as community interest companies. Royal Charter (RC) companies are granted power or a right by the monarch.

4. Registration:

Company incorporation in the UK involves registering your company name with the Companies House and HMRC. Company registration is an important part of company formation as it will strengthen your brand name and build trust among people to buy your products and services. Registering your company is a hectic process, hence, if you hire a company formation agent then your company registration can be done easily. Agents like RTRSupports Limited will help in registering your company name to the Companies House and HMRC. Moreover, after the completion of your company registration, they will send you all the documents related to your company registration.

5. Documentation:

This is the final step for company incorporation in the UK. You need to provide documents like valid ID (Eg: Passport, Driver's License, National ID card, etc.) and Address proof (Eg: Bank statements and utility bills that are not older than three months are also accepted as address proofs).

Therefore, if you need further assistance regarding offshore company formation in the UK you can contact RTRSupports Limited. They also provide a UK Bank account opening services for non-residents.


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