Are you a Pakistani entrepreneur looking to expand your business globally? If so, company formation in the UK from Pakistan may be a great option to consider. With its stable economy and welcoming business environment, the UK offers excellent opportunities for growth and success.
The process of registering your company in the UK is straightforward and can be done by anyone, regardless of residency status.
In this blog, we’ll guide you through the steps of company formation in the UK from Pakistan, so you can take advantage of this exciting opportunity.
Why Should You Open Your Company in The UK ?
Expanding your business to a new country can be a daunting task, especially when you’re dealing with unfamiliar legal and financial systems. With a strong economy and a reputation for quality and professionalism, the UK offers many advantages for businesses looking to expand. There are many advantages to registering your company in the UK, including:
Access to a global market: The UK is a major economic powerhouse and registering your company there can give you exposure to a vast global market.
Build trust with international clients: Having a presence in the UK can help you build trust and safety with international clients, thanks to the country’s strict quality checks and balances.
Access to banking services: Registering your company in the UK allows you to open a business bank account, which you can then use to access important services like PayPal, Stripe, and other debit card services.
Free UK phone number: When you register your company in the UK, you can avail of a free UK phone number for 12 months, which can be renewed depending on your needs.
The registered address for important documents: The registered address linked to your business can accept important documents and postages that may be difficult to receive in Pakistan.
How Much Money Do I Need to Register A Company in The UK?
If you’re looking to register a company in the UK from Pakistan, one of the first things you’ll need to know is the cost. The good news is that the process can be quite affordable, and there are different options to suit your budget and needs.
Here are the three main ways to register a company in the UK, along with their costs:
Online registration via Companies House:
This is the most popular and cost-effective way to register a company in the UK. The official company registration agency charges £12 for online registration with standard Articles of Association. If you choose to use a different set of Articles, the fee increases to £40.
Postal registration:
If you prefer to register your company by post, you will need to pay a fee of £40, which includes the cost of the standard Articles of Association. If you want to use a different set of Articles, you will need to pay an additional £30 fee.
Same-day registration:
If you need to register your company urgently, you can use the Companies House Same Day Service. The fee for this service is £100, which is considerably more expensive than the other options.
It’s important to note that these fees are just for the registration process itself. You will also need to factor in other costs, such as legal and accounting fees, office rental, and equipment.
You can work with a consulting agency like Business Globalizer, which specializes in completing all the required processes with their affordable company formation service in the UK from Pakistan.
What Do I Need to Register my Business in The UK from Pakistan?
If you’re a Pakistani entrepreneur looking to expand your business to the UK, registering your company is the first step. Here’s a list of things you’ll need to have in place before you start the registration process:
- A clear structure of your business, including the name of the owner, secretary, and other relevant details.
- 2. Directors’ and shareholders’ information including name, address, nationality, date of birth, and occupation.
- 3. Information on the type of the company along with the work it’s focused on. For example-company activities and offered services.
- 4. Proof of ID and address of officers owning the company. For identification, your current passport, NID or driving license will work. For address, current (in the last 3 months) utility bills, mortgage statements, or utility bills will do.
- 5. For registration you will need a valid email address and a valid debit or credit card. You will also need a valid UK address, to register a UK address for your business.
Having all of these documents ready will make the registration process smoother and more efficient.
UK Bank Account Details For Pakistani Business Owners
One important step to take after registering your business in the United Kingdom is to set up a business bank account. A separate account for your business transactions can help you manage your finances more effectively and avoid confusion with personal expenses.
To open a business bank account, you will need to provide some documentation, such as your business registration certificate, identification documents, and proof of address. Depending on the bank you choose, you may be able to apply online or you may need to visit a branch in person.
While many business bank accounts have no monthly fees, it’s important to compare different options and read the terms and conditions carefully. Some accounts may charge fees for certain transactions, such as international transfers or cash withdrawals. Additionally, some banks may offer additional services, such as accounting software or business loans, that could be useful for your specific needs.
Keep in mind that choosing the right business bank account is an important decision that can affect the financial health of your business. Take the time to research different options and consider consulting with a financial advisor or accountant to help you make an informed decision.
How To Register A Company In The UK from Pakistan?
You will have to apply online to get your company registered. The process of setting up a UK company as a non-resident can be complex and time-consuming. If you’re a non-resident looking to register your business in the UK from Pakistan, it’s important to understand the steps involved in the process.
1. Choosing a Business Name
Choosing a business name may seem straightforward, but it’s an important step that requires careful consideration. To ensure that your business name is unique, it’s a good idea to do a quick Google search to see if there are already any businesses in the UK operating under a similar name. If there are, you may want to consider tweaking your name to make it more distinctive. It’s also important to keep in mind that your business name should reflect your brand and be easy for customers to remember. Once you’ve settled on a name, be sure to double-check that it’s not already registered with Companies House. With a little bit of research and careful consideration, you can choose a name that sets your business apart and helps it succeed in the UK market.
2. Type of company
Once you’ve settled on a unique name for your business, the next step is to decide what type of company you want to register. There are four main types to choose from:
- Private Company Limited by Shares: This is the most common type of company, where the owners’ liability is limited to the amount they have invested in the company.
- Private Company Limited by Guarantee: This type of company is typically used by non-profit organizations or charities. The owners’ liability is limited to the amount they have agreed to contribute to the company in the event of its winding up.
- Private Unlimited Company: This type of company has no limit on the liability of its owners.
- Public Limited Company (PLC): This type of company can offer shares to the public and is subject to more strength regulations than the other types of companies.
Each type of company has its advantages and disadvantages, so choosing the one that best fits your business needs is important. Business Globalizer can help you decide which type of company is right for your business and guide you through the registration process.
3. Finding the right business or company form:
Now that you have a clear idea of the type of company you want to register for, it’s time to start the registration process. The main form you’ll need to fill out and submit is called OS IN01, which is available on the Companies House UK website.
The OS IN01 form will ask for information about your company, such as its name, registered address, and the details of its directors and shareholders. You’ll also need to provide a statement of capital, which outlines the amount of money invested in the company by its shareholders.
4. Company Details
The final step of the registration process involves filling out the company details section on the OS IN01 form. This step is crucial, so it’s important to provide accurate and complete information. The company details section will ask for information such as:
- Your business’s registered address in Pakistan
- The date of incorporation
- The number of current and former employees
- Mortgage charge sheets from Pakistani banks
- The previous name of your business, if you had any
It’s important to ensure that all the information you provide is accurate and up-to-date, as any errors or omissions could cause delays or complications down the line.
5. Payment And Submission
Once you have completed filling out the OS IN01 form with all the required company details, the final step is to pay £12 to Companies House UK. This can easily be done using your Visa debit
or Mastercard. Once your payment is processed, you will receive a confirmation notice and email, which means your registration process has begun.
The registration process typically takes around 24 to 48 hours, but it can take up to 4 to 7 days in some cases. So it’s important to be patient and expect the complete registration process to take up to a week.
Business Globalizer can be Your Savior:
Business Globalizer can guide you through each step of the process, helping you navigate the legal and regulatory requirements and ensure that your business is set up for success in the UK market.
The process typically involves choosing a suitable business structure, registering your company with Companies House, opening a UK bank account, registering for taxes, and obtaining any necessary licenses or permits. You can trust Business Globalizer to handle all your process and pricing needs.
Final Words
In conclusion, setting up a company in the UK from Pakistan may seem daunting, but with the right guidance and resources, it can be a smooth process. Remember to carefully consider the type of company you want to register with and ensure that you have all the necessary documents and information ready before filling out the application form.
If you find yourself struggling with any step of the process, don’t hesitate to seek the help of a business consultant like Business Globalizer. With their expertise and support, you can turn your dream of expanding your business to the UK into a reality.