Offshore Company Formation UK
Forming an offshore company in the United Kingdom allows one to take advantage of effective regulations within Europe. With 110 bilateral treaties, Britain has one of the best tax treaty networks in the world. Here are a few features if you decided to set up an offshore company in the UK.
- The UK has an extensive global influence culturally, economically, and politically, the effects of which are seen in many countries throughout the world
- It is one of the world’s most globalised economies and is the 4th largest exporter and importer in the world
- There are no exchange controls in the UK
- The United Kingdom is a party to more double tax treaties than any other sovereign state
- Details of beneficial owners are kept confidential
- Tax is based upon residence and location of commercial activities
Characteristics of the Offshore Company UK
|
Company Type |
Private Limited Company |
|---|---|
|
Governing Corporate Legislation |
UK Offshore Companies are regulated under the Companies Act 2006, and the UK Companies House is the governing authority. |
|
Legal System |
Common-Law |
|
Minimum paid-up |
GBP 1 |
|
Minimum number of shareholders |
1 |
|
Minimum number of directors |
1 |
|
The requirement of appointing a company secretary |
No |
|
The requirement to prepare accounts |
Yes |
|
The requirement to appoint an auditor |
Yes, but an exception exists for small companies. |
|
The requirement to file an annual return |
Yes |