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Offshore companies in Great Britan

Great Britain is a respectable offshore jurisdiction, although it doesn’t fall under the definition of a classic offshore territory. However, opening or acquiring an offshore company in Great Britain is a great move to optimize and protect your business assets. Indeed, this country has a centuries-long tradition of entrepreneurship and the fact you may be a non-resident doesn’t usually make things more complicated.

Great Britain company register: pros and cons

Without a doubt, the most significant benefit for any Great Britain offshore company is an opportunity to benefit from a prestigious and solid business reputation. For GB-registered companies, it’s easier to open an offshore account in Great Britain’s banks. 

 

Still, this country imposes an income tax on any company registered on its territory, and online casinos aren’t an exception. The tax rate varies depending on the business size; the minimal rate is 20%. 

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Great Britan

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Apart from the income tax, companies in Great Britain are required to pay VAT if their annual turnover is more than £70,000. Additionally, the threshold for the authorized capital is £50,000.   

 

Offshore companies in Great Britain, like the UK firms, are required to submit a standard set of accounting information, Annual Return and Annual Accounts, in order to pay income tax and VAT (if applies). 

 

It should be noted that GB approved an extensive list of agreements aimed at helping businesses avoid double taxation. However, they apply only if an offshore company registered in Great Britain pays taxes on the territory of this jurisdiction.

How to open a Great Britain offshore company

 

The application process is somewhat different from the one used in most offshore jurisdictions. Typically, it consists of the following stages:

  • submitting the required set of papers. Note that the list of documents will differ depending on the ownership type you’ve chosen: LLP or LTD
  • presenting a resolution assigning a nominee director and a nominee shareholder as well as submitting a trust declaration
  • presenting a proof of solvency
  • getting a business address   
  • paying registration fees
  • submitting an application form
  • getting a certificate of incorporation and a common seal

As you can see, Great Britain company formation process is quite lengthy. Our team has  great experience in helping business register the companies in Great Britain. We will send you an updated list of application papers, help calculate the costs and pay the fees on time.