Legally, the United Kingdom, (UK), does not require business owners, property owners or even business shareholders to be a citizen of England or Wales. It doesn’t matter what nationality you are, to start-up a business takes only about one day and you can even do this electronically over the internet. Registering your business ownership with the Companies House in the UK requires that your provide “Articles of Association”.
You can use a formation agent to work up your papers and it can be as simple as contacting them to file for you, once registered, they will send a confirmation in as little as 2-3 days. Once you are a company owner in the UK, however, there will be the same steps to follow as required of any UK resident who owns a business.
Steps to Take Once You Are a UK Company Owner
Once the company is registered, there will be steps to follow that are the same for U.K. citizens or non-citizens. You do not have to live in the UK to run your business, but whether you live in another country or move to the UK, the same legal requirements must be met.
Because of Anti-Money Laundering Laws and Regulations, (AML), a business owner must obtain a form of identification, such as a legal driver’s license from the country where you live, and proof of address like a utility bill or a bank statement from any country where your live.
- All documents submitted as proof of ID and address must be written in the Latin (Roman), alphabet, as well as the written application.
- When working in your UK business, you are required to have an documented and updated VISA/employment papers and all employer and employee regulations and laws must be followed.
- All UK limited companies, whether brick and mortar or virtual offices, must have a registered office address located in the UK.
- The registered business address must appear on all company documents, stationary and be publically available through the Companies House.
- A UK company business owner may be restricted from using a residential address for their business address. Owners must investigate business mortgage and rental agreement restrictions.
- Bank accounts for a UK business cannot be associated with the owners’ personal finances. Business owners must follow Bank rules for opening business accounts.
For more information on starting your own business in UK contact: firstname.lastname@example.org .