Setting up a company in the UK takes just about 24 hours. It is not necessary for the shareholders or the director to residents of the country.One person will be essential for incorporating a Limited company model and for formation there will be required single shareholder and director. Shareholders as per UK law can be corporate entities.

Forming such company type in the UK comes with a primary advantage that shareholders are safeguarded by the company’s limited nature, in case, of debt incurred by the business or due to its failure. Even corporate name is protected by the UK. On acceptance of the name by the Companies Registrar, other entities are not allowed to use the same. Few restrictions include using names suggesting links with prevailing institutions or not being able to use names which signify government connections. Local registered office is mandated by the UK.

Shareholders are not necessary for limited liability partnership company formation. Incorporating of such type of benefit includes wide range of flexibility when compared to private limited company. There is also no ethical liability limitations or director. Limited liability partnership unlike limited liability partnership is not known to entail articles or association or memorandum of association. Also, restrictions are not imposed on holding and owning properties. The UK company is not provided with VAT number automatically. However, if the plan is to start a business in the United Kingdom, then it is deemed necessary. The UK has entered into several tax agreements. In case, a tax treaty exists between nations where business forms the major economic activity including the UK, then agreement terms are likely to apply. Again if taxes are paid currently by the company to different company, then it is likely to be regarded as UK tax resident. If no tax treaty exists, as in few cases, such companies in the UK are offered unilateral double tax relief.