Going global is no longer an option but a necessity for businesses looking to maximize growth and profits by tapping into new markets. Business models have changed and therefore, opening up to developed markets in the UK, Europe, and elsewhere abroad is key to diversifying business opportunities in order to increase and stabilize revenue sources. However, many business owners may be hesitant to do so, mainly because of the perceived challenges of setting up in a new territory, as well as a lack of understanding of the UK legal and regulatory frameworks. The best way to overcome these challenges is to work with an experienced company formations expert.
Your Company Formations Ltd offers the necessary support and guidance to help you set up a company in the UK. They can secure a premium business address in Central London on your behalf and advise you on the best legal structure for your company to minimize liabilities and risks.
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The benefits of opening a foreign company office in the UK
Today, more businesses and entrepreneurs than ever before are establishing company offices in the UK. The main reason for this is the easy access it provides to markets with strong purchasing power. Another reason is the UK’s exit from the European Union, which has made it free to establish independent legal and tax regulations that offer better support to foreign businesses. This has allowed the country to build strong global trade networks that connect UK businesses to European and other foreign markets.
Favorable tax system
When it comes to setting up a company in a foreign territory, taxes are a major concern. The UK offers a manageable and flexible tax system that is less complicated than many other systems abroad. For example, corporate tax is set at below 20%, and thanks to the double taxation agreement, shareholders of foreign companies are not required to pay income tax in the United Kingdom.
It’s easier to do business in the UK
Companies and entrepreneurs expanding to foreign territories face many hurdles due to a change in corporate culture. This is not so in the United Kingdom. The UK is recognized by the World Bank as one of the easiest locations to start a foreign business thanks to its fewer restrictions and flexible business registration requirements.
Highly skilled employees
A huge advantage of starting a company office in the UK is that it has a good offer of qualified staff from its workforce pool of millions of well-trained workers and highly educated professionals. In addition, has very competitive wages and labor costs that are comparatively low within the EU.
Get expert help setting up a company office in the UK today
While it is true that Brexit cast doubt on many investors, today the UK remains a key country for doing business. And if you are looking to save costs, you will be happy to know that you don’t even need to lease physical premises. With a just registered office address and additional services such as international mail forwarding and business call answering, you can operate as a UK business at full capacity. For more information and to get expert help setting up a company office in the UK, contact Your Company Formations today.