Presentation England Offshore
The United Kingdom is strategically located off the north-west coast of continental Europe and has significant communications. It has three main international airports at Gatwick, Heathrow as well as Manchester, with extensive world-wide networks. The UK is also physically connected to mainland Europe by the Channel rail tunnel link, which ensures regular train services for passengers and vehicles to Brussels and Paris. The United Kingdom is one of the main trading powers and financial centers in the world, and its national economy is among the four largest in Western Europe. The official currency of the country is the UK Pound. There are no controls regarding exchange either.
It seems difficult to be more “onshore” as England. However, this court has tax provisions and structures useful members to players in the world of business.
England is an ideal destination for international companies; the tax status granted to these companies is very attractive compared to French or German tax regimes. The United Kingdom has the highest number of double taxation agreements in the world as well as the lowest corporate tax. The UK has signed double taxation treaties with more than 100 countries worldwide.
Company incorporation in the UK is run by the Companies Act 1985, and the Income and Corporation Taxes Act 1988. English is the language of legislation and corporate documents. Formation of an offshore company with bank account is always facilitated and managed in the strict confidence.
The types of company used for international trade and investments are Private or Public Limited Companies. It is worth to note that a company registered in the UK has the same powers as a natural person. There are also no special laws regarding the unauthorised disclosure of information about a UK company, its directors or shareholders, but UK law does recognize the common law duty that professionals have towards their clients to keep their files undisclosed.
There are some constraints on trading and business activities though. Specified types of service, including for instance insurance, financial services, banking, consumer credit-related services and employment agencies, are not allowed.
Incorporation procedure consists of submission of the Memorandum and Articles of Association, notification of the location of the Registered Office, Declaration of Compliance and Statement by the First Directors and Secretary as well as payment of the requisite fee to Companies House. A registered address must be maintained in the United Kingdom.
Many international entrepreneurs and UK businesses choose to have their UK companies registered in London. The UK Registrar of Companies taxes a nominal additional fee for this service, and clients often take advantage of this specific facility. However, less than 1% of all companies registered in England and Wales are nowadays incorporated in London. More than a decade ago the government decided to move the principal Companies' Registry for England and Wales from London to Cardiff in Wales.
London is an investment center foreground, allowing the UK to be considered an excellent gateway to the European market. Another specific advantage of incorporation in London is the possibility of a same-day incorporation service.