The UK is strategically located off the Northwest coast of Continental Europe and has excellent communications; it has three major international airports in Heathrow, Gatwick and Manchester with extensive worldwide connections. Recently the UK was physically joined to the mainland Continent by the opening of the Channel rail tunnel link which boasts frequent train services for passengers and cars to Paris and Brussels.
Taxation
A UK incorporated company may be classified as non-resident for tax purposes, and therefore non taxable in the UK on non UK source income, if it is managed and controlled from a country with which the UK has signed a double taxation treaty which contains a recognized. By careful selection of the country from which the UK Company is managed it may therefore be possible to create a non-taxable UK entity. A major benefit of this structure is to create a low-taxpaying entity which has the added respectability of a UK persona.
Shareholders
A UK company must have a minimum of one shareholder who may be a corporate body or an individual. Details of the shareholders appear on public record but anonymity may be retained by the use of nominee shareholders or holding companies.
Directors
A UK company must have at least one director and a company secretary. A sole director cannot also be the secretary. The Director can be an individual or a company. If there is more than one director, one of them can also be the secretary but, as UK company law is complex, it is strongly recommended that a professional secretary with relevant experience is appointed. Details of the directors appear on the public file but anonymity can be retained by the use of third party professionals.
Annual Returns
Generally a UK company must appoint an auditor and audited accounts must be lodged with the authorities within 10 months of the financial year end. An annual return giving details of directors and shareholders is required for all companies.
Double Tax Treaties
The UK has signed double taxation treaties with 100 countries and thus enjoys the most extensive double taxation treaty network in the world.
Secrecy
There are no specific laws relating to the unauthorized disclosure of information on a UK company, its directors or owners but UK law recognizes the common law duty that professionals have towards their clients to keep their affairs confidential.
Local Requirements
As a matter of local company law the company MUST maintain a registered office address within the UK and must also appoint a company secretary who, for practical reasons, must be resident in the UK We would normally provide these services as part of our domiciliary service fee.
