Incorporating a company in the UK might appear to be straightforward but there are invariably complex issued that must be considered at the outset. This is particularly the case when the shareholders do not intend taking up residence in the UK or employing full time staff. These include:
Bank account opening requirements and provision of bank contact details for account opening.
Choosing and hiring a Chartered Accountant.
Selection of lawyers / attorneys that specialise in International Trade Finance or Commodity & Maritime law.
Company Secretarial services.
Arranging a bookkeeping service.
Maintaining a registered and or service office.
Registration for VAT
Establish UK web domain and Email accounts for (Optional).
Dealing with anti-money laundering procedures.
The first and biggest difficulty that a Brazilian individual or company must overcome is the establishment of a bank account with a reputable financial institution. Banks worldwide are now required to complete “thorough” due diligence on prospective customers . We are aware of individuals who have travelled to London, Hong Kong and the Middle East to open a bank account without success. The reason for this is as follows:
An introducer of strong integrity who is well known to a bank is required.
A business plan outlining the objectives of the proposed trading company is required.
There must be a clear process for the (European) bank to validate the identity of the Shareholders and Directors.
The Shareholders and Directors of the proposed trading company must demonstrate that they can meet UK statutory obligations. For example, financial accounting and ensuring company details remain up to date at UK Companies House.
Atlas’s engagement in the process means that the issues outlined above can be overcome.