| Corporative legislation | Decrees on Companies 1985, 1989, 1994 |
| Form of company | Private limited company (hereinafter-company) |
| Authorized business activities | All and any activities not prohibited by the law Providing of banking, insurance and re-insurance, trust services is subject to special license |
| Prohibited activities | None |
| Taxation | Corporate tax in 2006/07 fiscal year : - profit before GBP 300 000 19% - profit GBP 300001 - 1 500 000 - 19% - 30% - profit 1500 001 or more - 30% |
| Name of company | Must not be identical or confusingly similar to the existing ones. The name has to end in the word Limited or Ltd The words Insurance, Bank, Chamber of Commerce, Co-operative, Credit Union, Group, Holding, Building Society, Royal, and a number of other words are subject to approval by competent authority |
| Who executes the foundation documents | At least one signatory who subscribed for 1 share with value 1 GBP, and whose functions are limited only to signing of foundation documents and nominating of the first director |
| Equity capital of the company | No requirements in respect of the minimum amount and contribution of the equity capital |
| Recommended equity capital | 1000 GBP, divided into 1000 shares with per value 1 GBP |
| Shares | Only registered shares with per value may be emitted Emission of shares without per value and bearers' shares is not permitted |
| Shareholders -minimum number -nominal shareholders -holding of equity in trust |
One legal or natural entity Permitted Permitted |
| Does the law provide for disclosure of information about the actual owner of the company | No |
| Directors -minimum number -nationality and citizenship -status |
One natural or legal entity No requirements All the rights apart from those falling into the exclusive competence of shareholders (determined by articles of association) |
| On the territory of UK there has to be: -registered office -registered agent -secretary |
Required Not required Required, natural or legal entity |
| Holding of the meeting of -shareholders -directors |
Annual meetings required, no requirements as to place of meeting Annual meetings required, no requirements as to place of meeting |
| Mandatory -keeping of accounting records -preparing of annual account -presenting of auditor's conclusion |
Yes Yes, including information about directors, secretaries, shareholders, number of shares hold by them, equity capital, condition of accounts Yes, if a company's turnover of over 5.6 million GBP or a balance sheet value over 2.8 million GBP |
| Information at disposal to the third party | Names and addresses of secretary, directors and shareholders Registered office, memorandum and articles of association, creditors' claims |
| Documents kept at the registered office | Register of shareholders, directors and secretaries, creditors' claims |
| Agreements on exemption from double taxation | Australia, Austria, Aden, Azerbaijan, Algiers, Antigua, Argentina, Bangladesh, Barbados, Belize, Belarus, Belgium, Ivory Coast, Burma, Bulgaria, Bolivia, Borneo, Botswana, Brazil, British Guyana, British Virgin Islands, Brunie, Hungary, Venezuela, Vietnam, Guyana, Gambia, Ghana, Germany, Guernsey, Gilbert and Ellis Gold-Coast Islands, Hong Kong, Grenada, Greece, Denmar, Jersy, Dominican Republik, Egypt, Zaire, Zambia, Zanzibar, Zimbabwe, Israel, India, Indonesia, Jordan, Iran, Ireland, Iceland, Spain, Italy, Kazakhstan, Cameroon, Canada, Kenya, Cyprus, China, Korea, Christofer and Nevis, Kuwait, Latvia, Lesotho, Lebanon, Lithuania, Luxemburg, Mauritius, Malawi, Malaysia, Malaya, Malta, Marocco, Mexico, Mongolia, Monserat, Nigeria, Netherlands Atlantic Islands, Netherlands, New Zealand, Norway, Newfoundland, Oman, Isle of Man, Faro Island, Pakistan, Palestine, Papua New Guinea, Poland, Portugal, Rhodesia, Russia, Rumania, Saudi Arabia, Swaziland, Seychelles, Singapore, Slovakia, Solomon Islands, St. Lucia, St. Vincent And the Grenadines, Sudan, USA, Sierra Leone, Thailand, Taiwan, Tanganyika, Trinidad and Tobago, Tunis, Turkey, Uganda, Uzbekistan, Ukraine, Fiji, Philippines, Finland, Falkland Islands, France, Chech Republic, Switzerland, Sweden, Sri Lanka, Estonia, Ethiopia, Yugoslavia, South Africa, Jamaica, Japan |
| Currency control | No |
| Advantages | The high international authority of Great Britain as a member of EC The company may be used in capacity of either nominal, holding or non-resident company of Great Britain |
| Term of incorporation | 3 - 4 weeks |
| Financial year ending on: | Look for: Annual support of companies |
| Costs of registration of company | Look for: Costs of registration and service |
| Possibility to purchase a ready-made company | Yes, look for: Ready made companies |
| Disadvantages | Mandatory accounting, presenting of annual account with auditor's conclusion |