3 January 2024

How to open a company in the UK: specifics of the jurisdiction, payment system account and merchant account

If you have been trying to develop or already have a business in Russia, you will not argue that the Russian Federation is not the most “friendly” country for entrepreneurship. Local entrepreneurs can only dream of good support from the government and private financial institutions.

Do you want to develop your business in a country with low tax burdens, minimal corruption, high-skilled workforce, and developed logistics?

Do you want to start a legal business in Europe and avoid paying taxes?
This is possible if you buy a company or open a firm in England — a European offshore enterprise. Such a non-resident company will be exempt from taxes and will be able to operate successfully in favorable conditions for entrepreneurs, generating high income. 

Investmakler will help you buy a business or firm in Europe as part of a single service package: “Company + payment system account + merchant account,” investment, or business immigration.
What is required for this, read on.

Advantages of the British Jurisdiction

Registering a company in the United Kingdom allows you to provide services to residents of Europe, the CIS, and successfully conduct business with partners worldwide. Business for non-residents in this country is not subject to taxes and the jurisdiction has many other advantages:

  • impeccable reputation;
  • stable economy;
  • your investments protected by law;
  • if the business earns income outside the UK, the corporate tax rate is 0%;
  • simplified reporting system;
  • more effective tax planning;
  • excellent legislative support for entrepreneurs;
  • maximum confidentiality.

Types of Business You Can Open in the UK:

  • LTD – private limited company.
  • LLP – limited liability partnership (in England or Wales).
  • LP – limited partnership, where one partner has unlimited liability and the other has limited liability (in Scotland).

Which organizational and legal form to choose will be advised by our consultants. Contact us for a detailed consultation: info@investmakler.com

Registering a Firm in the UK

To create a new company or partnership in the United Kingdom, you need to enter data into the Company Register. Documents can be processed within 4 days, and it will take another day to enter the data.
If the applicant is an individual, they will need to:

  • fill out a form,
  • provide proof of residence (utility bills are sufficient),
  • provide scanned passports of the director and founder,
  • specify the amount of the authorized capital,
  • provide 3 or more preferred names for the new company.

For an entity applicant, the following are required:

  • copy of the company registration certificate,
  • financial statements of the company,
  • description of the business activity,
  • copies of the founders’ passports,
  • copy of the charter,
  • completed form,
  • company structure,
  • amount of the authorized capital of the future company,
  • 3 or more preferred names for the new legal entity.

You can send the documents online, and we will take care of the rest to ensure that the company registration in England goes smoothly and without problems.

Payment System (Account Opening)

After registration, to handle transactions with clients and counterparties, the company will need to be connected to a payment system. To avoid difficulties with transactions, we recommend connecting to a PSP — a payment service provider, which will ensure:

  • internet acquiring (acceptance and processing of payments online),
  • work with Visa and MasterCard payment systems,
  • account opening
  • private banking
  • and even business financing.

Do not confuse connecting to a PSP with opening accounts in UK banks. Such a financial organization provides banking services under a license but does not use clients’ money for issuing loans.

Advantages of Working with PSP:

  • the account owner receives an IBAN number for receiving money to the company’s account;
  • fast, modern service;
  • high transaction speed — card payments are processed within minutes, transactions are confirmed instantly;
  • simple online registration, user-friendly, intuitive interface;
  • financial operations in 34 currencies, conversion of receipts in 21 currencies;
  • different limits and fees for businesses of different scales;
  • information support.

Investmakler will help you choose a PSP service and register with it. You will need to provide contact details (email, phone), fill out a form, provide copies of the board members’ and beneficiaries’ passports, and financial statements. Send the specified data to info@investmakler.com, and opening an account in England will take up to 2 days.

Payment Network

To process commercial payments in your company’s trade, you will also need a merchant account. With our help, you can choose a payment network that will enable online payments for goods or services.

How a payment gateway works

The first of such electronic services appeared in 1996. They were systems from the USA that processed payments made over the Internet by transferring money directly to the seller’s account. Nowadays, such services provide additional features: manage merchant accounts, accept electronic checks, and process mobile and telephone payments.

Advantages of payment gateways:

  • Invoices are generated automatically.
  • Payments are accepted globally around the clock.
  • Clients can choose their preferred payment method.
  • Effective fraud protection.
  • Client data is protected from unauthorized access.
  • Transactions are processed instantly or within minutes.
  • Payments are convenient from a phone or computer.

With a merchant account, you can also:

  • manage your company’s financial operations;
  • generate financial reports;
  • create account statements;
  • set up your account.

Do you want to buy a ready-made company in England and register a merchant account and a payment system account? Specialists from the international investment company Investmakler can handle everything simultaneously for you.

Order the service package: “Company + payment system account + merchant account”:

  • send a request to info@investmakler.com,
  • choose your preferred payment method for our services,
  • send the full set of documents (we will inform you of the required ones),
  • await successful registration for all 3 items,
  • receive your ready company in the UK!

Investmakler successfully handles business registration abroad and is ready to provide its clients with all the opportunities to establish a company in a safe and “friendly” jurisdiction for small, medium, and large businesses. Our clients value their time and receive results in the shortest possible time.
We wish you high turnover and high profits! We look forward to your applications.

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