We'll share simple but life-saving tips for small businesses and freelancers on business banking.

How to Establish a Limited Company in the UK?

How to Establish a Limited Company in the UK?

Are you an entrepreneur who wants to start a company in the UK or are you a company owner who wants to expand his business in the UK? In this article, you can find answers to all your questions about starting a business in the UK.

1. Visa
To establish a company, you must first apply for a visa as a sole representative or investor. Persons holding a tourist or student visa cannot establish a company in the UK. However, if your visa application process takes longer, you can complete your establishment work with a tourist visa during the waiting period in order not to waste time while establishing a company.

2. Company Establishment
In order to establish a private limited company, you must register the company with the "Companies House". This is called 'Incorporation'. Next, you need to choose a company name, specify a company address, appoint a director to the company, and identify shareholders. Your company must have at least 1 physical address.

3. Registering a Company
Company registration to Companies House can be done online within 24 hours. This form of registration requires information such as the name and registered address of the company, the names and addresses of the company directors and clerks, and the details of the shareholders. In order to register online, "Memorandum of Association" and "Articles of Association" template documents approved by Companies House must be filled and submitted.

After the company registration, the 'Certificate of Incorporation' will be sent to you. It shows the legal existence of this company, company number and date of establishment. In addition, you must register for corporate tax within 3 months of starting your business. Starting a business means buying, selling, advertising, renting an office or hiring someone.

In order to start your activities, you will need a banking solution right after. Opening a bank account in the UK is a difficult and lengthy process. In this step, you can choose fintechs instead of traditional banks in order to start your company activities quickly. wamo is among the fintechs established in the UK. Wamo, which is preferred by those who set up a company in the UK, allows you to open a business account in just 10 minutes.

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Jamie Larson