Can a UK non-resident open a bank account in the UK?

There's no law or restriction applying to owning a UK bank account as a non-resident. Yet, the application process can be quite complicated. Each bank has different conditions. And they have the right to approve or disapprove your bank application. So, make sure you think through before opening a bank account on your own. Because a heavy load of paperwork and a hassle process might not be worth your effort. The advice here is to get help from professionals. Over the years, we've helped businesses open bank accounts in the UK. You can rely on our skillful team for a high success rate of bank applications. If you're incorporating a UK company with us, consider using our banking support as well.

What are the differences between Limited Liability Partnership (LLP) and Limited Company?

An LLP has a more flexible structure compared to a limited company while still remaining benefits of being a body corporate. Profits sharing among members of an LLP can be varied and the members’ agreement is not required to be registered with the Companies House. In addition, it’s not mandatory for a limited company to hold an annual general meeting.

How to incorporate a private company limited by shares or limited by guarantee in the UK?

Step 1: Choose the company name, Step 2: File Certificate of Formation to the UK Registrar of Companies, Step 3: Pay the corporation tax, Step 4: Set up a business account, Note: A UK private company limited by share doesn't need any share capital or shareholders

How is an LLP taxed in the UK?

Individual members of an LLP are subject to tax for its share of profits.

How is a limited company taxed in the UK?

The current tax rate applied to a limited company in the UK is 19%. The tax is imposed on the company’s total income, which includes both domestic and international income. A limited company can be eligible for the UK’s network of double tax treaties to avoid double taxation on foreign-earned income.

What things should I notice about naming a UK LLP?

The following conditions for naming an LLP need to be satisfied: Ends with words of “limited liability partnership” or “LLP”; Doesn’t contain sensitive or restricted words by the regulations; Doesn’t imply a connection to government or local authority; Doesn’t include words that constitute an offence; Avoid using certain characters, signs, symbols and punctuation; Must not be the same or identical to the names of existing companies.

What are the initial requirements for setting up an LLP?

At least two designated members; A local registered address to receive notice of local authorities.

How much does it cost to register a UK company?

It will depend on the type of business entity. Our Basic packages for a limited company and a limited liability partnership will cost you respectively US$549 and $499. They cover everything you need to set up a business in the UK.

Why should I use BBCIncorp's UK company formation services?

We are capable of registering a UK company in just 1-3 working days. Our packages are designed to meet all of your needs, with no hidden fee. Plus, our employees guarantee fast and responsive communication. Update: We have just released an all-in-one portal. It can help you manage and track your incorporation process(es) easily. Everything goes smoothly when using BBCIncorp's services.

What is the current income tax rate for a Limited Liability Partnership (LLP) in the UK?

The tax authorities in the United Kingdom have confirmed that the taxation base of a limited liability partnership will follow the procedure operated in the past for partnerships. The limited liability partnership itself will not be liable for taxation on profits or gains arising within the partnership, but the profits or gains will be assessed to tax separately on the individual partners. The member’s exemption from UK tax is only applicable provided that no business or trade is carried out with or within the United Kingdom.

What is the current income tax rate for a limited company (Ltd company) in the UK?

A limited company in the UK is subject to the corporate tax rate of 19%. The tax is imposed on the company’s total income, which is a combination of both domestic and foreign earned income. A limited company in the UK distributes its income to shareholders in the form of dividends. The shareholders will be taxed on their received dividends at the current rates from 7% - 38.1%.

What things have to be done annually to keep a UK LLP compliant with local regulations?

Maintain a minimum of two designated members and a local registered address; Filing annual return and audited accounts.

How to maintain the UK LLP in good standing?

Maintain partnership structured of at least 2 designated members; A local registered office address in the UK; Filing annual return and tax return with audited financial statements. Audit exemption is also available if an LLP meets following conditions: Annual revenue of less than £10.2 million, asset value of no more than £5.1 million; and Employ less than 50 people. An LLP is not required to hold its annual general meetings. For more information, please refer to our ComplyMate guide which covers all the basic annual compliance requirements for UK LLPs.

How to maintain a limited company in good standing?

How to maintain a limited company in good standing? Generally, a limited company in the UK needs to do the following to maintain in good standing: Pay corporate tax; Maintain a local address and minimum members; File annual accounts with the Companies House; File a tax return with the HM Revenue and Customs; File a confirmation statement (annual return) with the Companies House; Keep records of the company’s registers, financial and accounting documents.

Is there any restriction placed on business activities of an LLP?

Specific categories, which include banking, insurance, financial services, consumer credit related services and employment agencies would need to be licensed by relevant authorities. In addition, an LLP is not able to undertake non-profit making activities.

Does LLPs benefit from Double Tax Treaties (DTTs) in the UK?

The United Kingdom is party to more DTTs than any other sovereign state. However, access to treaty benefits for UK LLPs is determined by the residence of members, consequently International UK LLPs cannot take advantage of UK treaty access.

Does a limited company benefit from Double Tax Treaties (DTTs) in the UK?

Yes, limited companies can be eligible for the UK’s DTTs. The matter of residency will be taken into account to determine whether a limited company is qualified for these DTTs.

What is the minimum number of members of an LLP?

Every limited liability partnership must at all times have at least two, formally appointed designated members. (Designated members are analogous to the executive directors and the company secretary of a company). Moreover, there can be an unlimited number of members. The designated members are responsible for: Appointing an auditor (if one is needed); Signing the accounts on behalf of the members; Delivering the accounts to the Registrar; Notifying the Registrar of any membership changes or changes to the registered office address or name of the limited liability partnership; Preparing, signing and delivering to the Registrar an Annual Return (Form LLP363); and Acting on behalf of the Limited Liability Partnership if it is wound up or dissolved Designated members are liable in law for failing to carry out these legal responsibilities. If there are fewer than two designated members then every member is deemed to be a designated member. (The limited liability partnership may have decided that all members will be designated members or that only some members will be designated). With the agreement of the other members, a member may become a designated member at any time. Designated members enjoy the same rights and owe the same duties towards the limited liability partnership as any other member. These mutual rights and duties are governed by the limited liability partnership agreement and the general law. However, the law also places additional responsibilities on designated members.

What is the minimum number of members of a limited company?

A limited company in the UK must include at least 1 shareholder and 1 director. The shareholder(s) has only limited liability. They will not hold any personal liability that goes beyond the capital contributions. The director(s) will be responsible for the company’s daily operation, accounts, records and compliance requirements. They can hire other professionals, a secretary for example, to assist them.

Is information in relation to company members publicly disclosed?

The information of company members is available to public inspection.

Is there minimum registered capital requirement?

There is no minimum registered capital required and share capital can be in any currency.

What classes of member are permitted?

Partnership agreements, which need not be registered can determine different classes of member interests, thus provide flexibility in partnership structuring.

UK Company Formation Services with Quick Setup

UK Company Formation Service Packages

Limited Liability Partnership (LLP)

Private Limited Company (LTD)

basic

US$499

Get Started

Company Formation:

Name availability check
Document preparation and filing
01 year registered office address
01 year service address**
Government filing fee
Digital company docs:
- Copies of COI, LLP agreement
- Copy of company register

Business account:

Wise/Payoneer business banking

* Annual fee at US$499 incl. filing of Confirmation Statement (CF)** Applicable to two members only. Additional members would cost $50 each

standard

US$849

Get Started

Everything in the Basic package (Company Formation & Business account)

Plus

01 year business address
Physical company docs:
- Printed COI
- Printed LLP agreement
International courier fee

* Annual fee at US$499 incl. filing of Confirmation Statement (CF)

basic

standard

basic

US$499

Get Started

Company Formation:

Name availability check
Document preparation and filing
01 year registered office address
01 year service address**
Government filing fee
Digital company docs:
- Copies of COI, LLP agreement
- Copy of company register

Business account:

Wise/Payoneer business banking

* Annual fee at US$499 incl. filing of Confirmation Statement (CF)** Applicable to two members only. Additional members would cost $50 each

Refund Guarantee

We refund your money in full for any UK company formation services that we cannot deliver.

Read our policy

Open Your Bank Account and Unlock Exclusive Benefits

Through our partnership with leading financial institutions, such as Wise, Payoneer, and others, BBCIncorp offers you exclusive incentives when opening a UK business account with us.

By creating a Payoneer account through our services, your business is entitled to:

A $500 cashback amount
Free maintenance & account opening fees
Fixed transaction fee at 1%

When opening a Wise account with BBCIncorp, you can benefit from the following advantages:

Free transaction fee for the first transfer of up to GBP 1,000; or
For the equivalent in other currencies

Integrated support for UK company formation and operations

Comprehensive business services to support your UK company beyond incorporation.

International Corporate Advisory

Trusted Banking Partner Network

BBCIncorp
Client Portal

UK Compliance & Filing Support

Our Process for Company Formation in the UK

Begin your UK offshore company formation with a simple and well-structured setup process.

Place order

You do

Choose company formation package

We do

Verify order request

Make payment

You do

Complete secure payment

We do

Generate invoice & receipt

Proceed KYC

You do

Complete eKYC verification

We do

Verify and prepare filing

Receive docs

You do

Review & download docs

We do

Prepare certified documents

KYC documents checklist

Compliance gate

What you'll need to complete eKYC verification

For Individual

The following proofs are required for all company members.

Proof of identity

A certified true copy (scanned version) of the passport (valid for at least 6 months);

A comprehensive Curriculum Vitae (C.V.), Resumé, or Linkedin profile.

See sample of a certified true copy

Proof of address

A certified true copy (scanned) of address proof (e.g., bank reference, bank statement, utility bill, or driver’s license), issued within the last 3 months.

The document must clearly show the holder’s full name and residential address in English. P.O. Box addresses are not accepted.

For corporate or entity

Corporate verification includes two parts: company documents and KYC proofs for every associated member.

Company documents

Please provide us with certified true copy (scanned version) of the following company documents:

Certificate of Incorporation;

Memorandum and Articles of Association/ Constitution;

Extract of the company’s details from the Registrar of Companies, which can include any of the following: Business Profile / Certificate of Incumbency / Certificate of Good standing (valid for within 6 months if any).

In case the company documents can be certified via official government site, there is no need to submit certified copies.

Company members

All members must provide Proof of identity and Proof of address (same as Individual requirements)

Note:

Documents must be Certified True Copy / notarized by a Notary Public within the last 3 months
Documents must be in English or officially translated into English
Requirements may vary by case. Talk to our team for confirmation.

Why Choose Company Formation
in the UK

Built to support international ventures pursuing cross-border growth and operational efficiency.

Efficient company registration

Online incorporation process

Fast registration timeline

Clear regulatory requirements

Globally recognized business jurisdiction

Internationally trusted corporate environment

Transparent company registry

Strong legal framework

Established tax framework

Competitive corporate tax system

Extensive tax treaty network

Clear tax compliance rules

What our clients say

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Alfa Solutions Corp

Customer Review

"I would highlight BBCIncorp’s promptness to keep us updated and the sensitive human touch in document management and personal interaction."

Beth B. Lawton, Assistant to General Director

Foster Swiss

Customer Review

"The process of opening the BVI company with BBCIncorp was very smooth, I don’t recall doing much except for filling out a couple of forms."

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Get started with
company formation in
the United Kingdom

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Frequently Asked Questions

Every limited liability partnership must at all times have at least two, formally appointed designated members. (Designated members are analogous to the executive directors and the company secretary of a company). Moreover, there can be an unlimited number of members. The designated members are responsible for:

Appointing an auditor (if one is needed)
Signing the accounts on behalf of the members
Delivering the accounts to the Registrar
Notifying the Registrar of any membership changes or changes to the registered office address or name of the limited liability partnership
Preparing, signing and delivering to the Registrar an Annual Return (Form LLP363); and
Acting on behalf of the Limited Liability Partnership if it is wound up or dissolved

Designated members are liable in law for failing to carry out these legal responsibilities. If there are fewer than two designated members then every member is deemed to be a designated member. (The limited liability partnership may have decided that all members will be designated members or that only some members will be designated).

With the agreement of the other members, a member may become a designated member at any time. Designated members enjoy the same rights and owe the same duties towards the limited liability partnership as any other member. These mutual rights and duties are governed by the limited liability partnership agreement and the general law. However, the law also places additional responsibilities on designated members.

Company Incorporation

Open Business Account

Nominee Director Shareholder

Accounting & Auditing

Company Secretary

Virtual Office

Enterprise Accountant

UK
Company Formation For Cross-Border Businesses

UK Company Formation Service Packages

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