The United Kingdom of Great Britain and Northern Ireland (UK or Britain) is a West-European country consisting the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands.
Status – The UK consists of four countries, England, Scotland, Wales and Northern Ireland. The UK is permanent member of the United Nations Security Council since its first session in 1946.
The UK is also a member of the Commonwealth of Nations, the Council of Europe, the G7 finance ministers, the G7 forum, the G20, NATO, the Organisation for Economic Co-operation and Development (OECD), and the World Trade Organization (WTO).
Capital – London
Official language – English
Currency – Pound sterling (GBP)
Taxation – VAT 20% (can be reduced to 5% and 0%), corporation tax 20%, capital gains tax, withholding tax 20%, income tax (0% – 45 %), national insurance contributions (NICs), inheritance tax, council tax, stamp duty land tax (SDLT), stamp duty on shares.
Advantages of setting up a company in the UK.
The United Kingdom is a developed country and its economy is among the top 10 largest economies in the world.
This is a jurisdiction from the “white” list. Being in the UK means to trade worldwide. Your partners, and even banks, which you work with, will surely understand your modern and professional view of the market and they will easily concede credit to you.
Other advantages of setting up a company in UK: the UK has numerous Double Taxation treaties, access to various trade markets in the European Union (EU).
The UK jurisdiction is mostly chosen for the following aims: trading, financial structures, holding companies, international investment companies, asset protection.
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