Why the UK is Best for Non-Resident Business Owners

1. Reputation & Stability: The UK is known for its transparent and well-regulated business environment. It offers a stable economy and a globally respected legal system.
2. Ease of Incorporation: Even if you’re not a UK resident, incorporating a company in the UK is quick and hassle-free. You can handle most of the process online.
3. Global Business Gateway: With a UK company, you can easily access both European and international markets, boosting your business’s credibility.
4. Simple Tax System: The UK offers a competitive tax regime with corporate tax rates as low as 19%. There are multiple options for tax deductions, and the tax system is easier to manage compared to other countries.

VAT and Tax Benefits

• VAT Registration: If your annual revenue exceeds the VAT threshold (£85,000 as of now), you are required to register for VAT. Once registered, you can charge VAT on your services and products.
• Corporate Tax: Non-residents only pay taxes on income derived from UK sources, making it a flexible system for international entrepreneurs.

Opening a Bank Account

Even as a non-resident, once you’ve incorporated your UK company, you can open a UK-based business bank account. Many banks allow this through online applications or in-person visits. Additionally, non-residents can use international banking solutions that work with UK companies.