United Kingdom: company formation and banking
United KingdomEuropeOverview
A UK private limited company (Ltd) is incorporated with Companies House and is UK tax resident from day one, wherever its directors live. It pays corporation tax on its profits, files accounts every year and appears on a public register that anyone can search. That transparency is part of its appeal: customers, platforms and payment providers recognise a UK company without further explanation.
The Economic Crime and Corporate Transparency Act 2023 has tightened the rules. Since 18 November 2025, new directors and people with significant control verify their identity before they are appointed. Companies also need an appropriate registered office and a registered email address, and they confirm every year that their activities are lawful.
For founders abroad, the UK company usually works as a trading or invoicing entity with access to a wide range of banks, EMIs and multi-currency providers. It is not a low-tax vehicle: profits are taxed in the UK, and the owners are taxed where they live on what they take out.
Redomiciled coordinates incorporation and banking introductions; UK chartered accountants and solicitors give the tax and legal advice.
UK limited company formation for international founders
A UK private limited company (Ltd) is a separate legal entity, owned by shareholders and run by directors, that non-residents can register online with Companies House. As of October 2026 registration usually takes 24 hours, and directors and people with significant control must first verify their identity.
Incorporation runs through Companies House online, either directly or through an authorised corporate service provider. The application covers the company name, registered office, directors, shareholders, people with significant control and the articles of association; most small companies adopt the model articles. Companies are usually registered within 24 hours.
Identity verification is now part of incorporation. Each director and each person with significant control verifies once, either free of charge through GOV.UK One Login with a biometric passport from any country, or through an authorised corporate service provider. The result is a personal code that is quoted in the filing. Directors appointed before 18 November 2025 verify when their company files its next confirmation statement.
Because it is incorporated in the UK, the company is UK tax resident even when its directors and shareholders live abroad. It registers for corporation tax, keeps accounting records, files annual accounts with Companies House, sends a confirmation statement at least once every 12 months and submits a company tax return to HMRC.
Since 18 November 2025 companies no longer keep their own registers of directors or people with significant control; Companies House holds that information. From April 2028, accounts can only be filed through software.
A UK chartered accountant handles the filings and tax advice, and solicitors advise on legal questions; Redomiciled coordinates the setup and the banking introductions.
Who it suits
Founders selling to UK and international clients
You want a company that customers, marketplaces and payment platforms accept without questions.
Payments-heavy online businesses
You need access to the UK's broad market of EMIs and multi-currency providers for collections and payouts.
UK founders moving abroad
You are leaving the UK and need to know what keeping, closing or replacing your existing company means for tax.
Groups adding a UK subsidiary
You want a UK contracting entity for customers, staff or a future office.
Requirements
- Required
At least one director who is a natural person
Aged 16 or over, of any nationality and place of residence.
- Required
Identity verification
Every director and person with significant control verifies with Companies House and receives a personal code.
- Required
Registered office in the UK
An appropriate address in the part of the UK where the company is registered; a PO box is not accepted.
- Required
Registered email address
Used by Companies House for official contact and not shown on the public register.
- Required
Shareholder and PSC details
One shareholder can own the whole company; anyone with more than 25% of shares or votes is recorded as a person with significant control.
- Required
Statement of lawful purpose
Given at incorporation and repeated in every confirmation statement.
- Depends on your case
Company secretary
Not required for a private company; some appoint one to handle administration.
- Depends on your case
UK business address or UK-based director
Not required by law, though some banks look more favourably on a UK presence.
Documents
- Memorandum of associationSigned by each subscriber to confirm they agree to form the company and become members.
- Articles of associationThe model articles suit most single-founder companies; bespoke articles help with investors or several share classes.
- Statement of capital and initial shareholdingsNumber, class and nominal value of the shares each founder takes.
- Companies House personal codesOne for each director and person with significant control, issued after identity verification.
- Passport and proof of addressRequested by the service provider and later by banks, in addition to the Companies House verification.
- Marginal relief band
- £50,000 to £250,000; standard fraction 3/200Limits are divided by the number of associated companiesAs of 2026-10-25 · [11]
- Online registration time
- Usually within 24 hoursAs of 2026-10-25 · [2]
- Confirmation statement
- At least every 12 monthsAs of 2026-10-25 · [7]
- Minimum board
- 1 director who is a natural person, aged 16 or overAs of 2026-10-25 · [16]
- Tax residence of a UK-incorporated company
- UK resident by incorporation (CTA 2009, s.14)As of 2026-10-25 · [13]
- Accounts filing deadlines
- First accounts 21 months after incorporation; then 9 months after year endAs of 2026-10-25 · [12]
- Corporation tax payment
- 9 months and 1 day after the accounting period endsAs of 2026-10-25 · [12]
- Own registers of directors and PSCs
- No longer kept by the company since 2025-11-18As of 2026-10-25 · [8]
- Software-only accounts filing
- From April 2028As of 2026-10-25 · [9]
- VAT registration threshold
- £90,000 taxable turnover in 12 monthsAs of 2026-10-25 · [14]
- UK withholding tax on ordinary dividends
- NoneAs of 2026-10-25 · [15]
Timeline
- 1Name, shareholders and articlesCheck the name, decide who holds the shares and whether the model articles fit.
- 2Identity verificationDirectors and people with significant control verify through GOV.UK One Login or an authorised agent and receive their personal codes.
- 3Online incorporationFiled with Companies House; companies are usually registered within 24 hours.
- 4Tax registrationsRegister for corporation tax when the company starts to do business, and for VAT once turnover passes the threshold or registering helps.
- 5Bank and payment accountsApplications to banks, EMIs or multi-currency providers matched to the business; each runs its own checks.
- 6Annual complianceConfirmation statement, annual accounts, company tax return and corporation tax payment, each on its statutory deadline.
Tax notes
- Corporation tax is 19% on profits up to £50,000 and 25% on profits over £250,000. Between those limits marginal relief applies with a standard fraction of 3/200; the limits are divided by the number of associated companies and reduced for accounting periods shorter than 12 months.
- Under section 14 of the Corporation Tax Act 2009, a company incorporated in the UK is UK resident for corporation tax, wherever its directors live. Only a tie-breaker in a double tax treaty can displace that, and managing the company from abroad can create a taxable presence in another country as well.
- The UK does not withhold tax on ordinary dividends, and most non-resident shareholders pay no UK tax on them. They remain taxable in their country of residence, which is where most of the planning happens.
- VAT registration is compulsory once taxable turnover in the previous 12 months exceeds £90,000; voluntary registration is possible below that.
- Founders leaving the UK should review split-year treatment, the statutory residence test and the temporary non-residence rules before paying large dividends or closing a company. A UK tax adviser confirms the position for your dates and figures.
General information, not tax advice. Your position depends on your circumstances.
Banking fit
- EMIs and multi-currency providers are usually the quickest route for a UK company with non-resident directors; high-street banks may expect a UK address or a meeting.
- Expect questions on the business model, customer locations and expected volumes, and have contracts or invoices ready.
- Higher-risk or payments-heavy models narrow the field; our network includes institutions that consider them, subject to their due diligence.
Questions
Can a non-resident open a UK limited company?
Yes. Directors and shareholders can live anywhere. The company needs a UK registered office, at least one director who is a natural person aged 16 or over, and every director and person with significant control must verify their identity with Companies House.
How do I verify my identity for Companies House from abroad?
Through GOV.UK One Login, which is free and accepts a biometric passport from any country, or through an authorised corporate service provider registered with Companies House. Either way you receive a personal code that is used when the company is incorporated.
What is the corporation tax rate for a UK limited company?
19% on profits up to £50,000 and 25% on profits above £250,000, with marginal relief in between. The tax is payable nine months and one day after the end of the accounting period.
What happens to my UK company if I move abroad?
It stays UK tax resident and keeps paying corporation tax in the UK, while the dividends you receive become taxable in your new country. Timing matters: split-year treatment and the temporary non-residence rules can affect distributions, so take UK and local advice before you leave.
Can a UK company open a bank account if I live abroad?
Often yes, especially with EMIs and multi-currency providers that onboard remotely; traditional banks are more selective. Every application is subject to each institution's due diligence, and a clear description of the business shortens the process.
Banking in our network
We do not publish institution names: the right partner depends on your profile, and each institution keeps its own view on who it will serve.
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Banking partners
- High-street banks are often cautious with UK companies whose directors live abroad, while EMIs and multi-currency providers onboard many of them remotely. Every application is subject to each institution's due diligence.
- Banks look at where the business is run, who the customers are and how money moves, and they compare the application with what Companies House shows publicly. An accurate, up-to-date register helps.
- The UK is our largest banking network, spanning corporate banks, EMIs and multi-currency providers; the banking assessment shows which of them fit your activity.
Questions
What is the corporation tax rate in the UK?
Companies pay 19% on profits up to £50,000 and 25% on profits above £250,000, with marginal relief in between. The limits are shared between associated companies and reduced for accounting periods shorter than a year.
Does a UK company make sense if I do not live in the UK?
It can, as an invoicing or trading company that customers and payment providers recognise. A company incorporated in the UK stays UK tax resident wherever you live, so its profits are taxed in the UK and you are taxed at home on what you take out.
Is UK company information public?
Yes. Companies House publishes directors, people with significant control, filed accounts and the registered office address. Residential addresses and the registered email address are kept off the public register.
Videos
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Sources
- 1.Companies House: Companies House fees, retrieved 2026-10-25
- 2.GOV.UK: Set up a limited company, register your company, retrieved 2026-10-25
- 3.GOV.UK: Set up a limited company (directors, shareholders, PSCs, address), retrieved 2026-10-25
- 4.Companies House: Verifying your identity for Companies House, retrieved 2026-10-25
- 5.Companies House: When you need to verify your identity, retrieved 2026-10-25
- 6.Companies House: ECCTA outline transition plan, retrieved 2026-10-25
- 7.Companies House: Filing your company's confirmation statement, retrieved 2026-10-25
- 8.Changes to UK company law: company registers, retrieved 2026-10-25
- 9.Companies House: Update to accounts filing from April 2028 (23 October 2026), retrieved 2026-10-25
- 10.HMRC: Rates and allowances, Corporation Tax, retrieved 2026-10-25
- 11.HMRC: Corporation Tax marginal relief, retrieved 2026-10-25
- 12.GOV.UK: Accounts and tax returns for private limited companies, retrieved 2026-10-25
- 13.legislation.gov.uk: Corporation Tax Act 2009, section 14, retrieved 2026-10-25
- 14.HMRC: VAT Notice 700/1 supplement (registration thresholds), retrieved 2026-10-25
- 15.HMRC Savings and Investment Manual: SAIM5120 (non-residents and UK dividends), retrieved 2026-10-25
- 16.legislation.gov.uk: Companies Act 2006, section 155, retrieved 2026-10-25
- 17.Redomiciled client guidance: questions for founders leaving the UK (internal), retrieved 2026-10-25
Reviewed by the Redomiciled team on .
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