Limited Company
We generally recommend a Private limited Company for business in the UK. It is also commonly known as Private Limited Company which has a separate legal entity. According to the Companies Act, any person (foreign or local) above the age of 18 can register a private Limited Company in the UK. Further they may have a right to work in the UK, preferably through the Entrepreneurial visa for setting up a business set up.
Major benefits of Limited Company
The Registrar of Companies controls the registration of business firms and incorporation of companies. However, the nature of the actual business activity could be subjected to control and regulation by other Government authorities.
Partnership Firm
This business unit is like Proprietorship firm in term of liability and risk. When two or more persons joined to carry out specific business, they form partnership firm. Generally the firm is form for limited business activity, advisory, consultancy, service and profession.
A UK Company has all the powers of a natural person. The shareholders have options to apply for an Entrepreneur \ business Visa to set up a business in the UK. With this visa, the company can do business in trading, consultancy, marketing and laison work, commission agent, sourcing agent and other major business as permissible under law.
The nature of the actual business activity could be subjected to control and regulation by other Government authorities. Cannot undertake banking or insurance activities or solicit funds from or sell its shares to the Public.
Bank account opening
After successful registration of your Company, you can open a corporate bank account in any of the major banks in the UK. Many of the banks in the UK, these days, require physical presence of the company principals as part of the account opening procedure.
If you are able to visit the UK you have a wider choice of banks to choose from. In this case, you can explore the features and facilities provided by different banks and decide on the bank that best suits your needs.
While opening the bank account, clients should bring the following documents
Original Passport & residence address proof of director & Shareholder
Original UK company formation documents
Business profile of director & shareholder and Home country bank statement
To date we are providing Accounting Services for more than 250 clients
across the UAE in Trading, Construction, Real estate, Healthcare, Logistics and other services.
