If you were asked about the best investment jurisdiction to consider for offshore company formation, what would be the answer? To select a good offshore jurisdiction, it is important to check its potential to help your enterprise operate profitably and grow into a successful multinational. One jurisdiction that has stood out from peers for decades is none other than the UK.
As the globe emerges from the devastation caused by COVID-19, the UK has raced fast to provide investors with the right environment for boosting business growth. Keep reading as we demonstrate why this is the perfect moment for registering an offshore company in the UK.
Important Things You Need to Know about the UK
- The UK is a highly developed social market and market-driven economy.
- Its economy is the fifth largest on the globe based on nominal GDP.
- The country is the fifth largest exporter on the globe and also enjoys the third largest inward foreign direct investment.
- In 2020, the UK traded with 27 members of the EU, accounting for 49% of the nation’s exports.
- The service sector contributes about 81% of the UK GDP every year.
Why You Should Register a Company in the UK Now
One of the reasons making the UK attractive to foreign investors in 2022 is its ample supply of qualified and talented labor. The country is home to some of the most prestigious universities, from the University of Cambridge to the University of Warwick, which are renowned for producing top talents in different niches on the globe. So, whether you want to set up a software development company or pharmaceutical firm, the country has an ample supply of talents to drive the targeted growth rate.
Other reasons why you should go for an offshore company in the UK now include:
Offers a Perfect Boost to Business Credibility and Prestige
Whether running an e-commerce store or financial venture, its credibility comes in handy, especially when expanding to neighboring markets. The fact that your company is UK-based gives it some sense of credibility, which might be all you need to drive more sales. So, grab this opportunity and set your offshore enterprise apart for success.
For more than 100 years, the UK has progressively invested in state-of-the-art infrastructure to ensure that both people and goods can be moved with ease. It boasts of the largest air transport in Europe and a network of seaports that you can use to efficiently move raw materials for processing and finished products to the market. Your offshore company in the UK will also be able to use sustainable energy and high-speed internet to keep the cost of operations low and efficient.
Outstanding Government Support
When opening a company offshore, the primary target is to ensure that you optimize profit and retain the bulk of it. This is only possible when working in jurisdictions, such as the UK, that provide ample tax incentives. The corporate tax in the UK is 19%, which is pretty low compared to other nations on the globe. Again, the tax is only charged on the profit generated from transactions completed in the UK only.
Your company might also qualify for R&D expenditure credit (RDEC) tax relief for expenses related to research and development. Consider working with accounting experts at ICD Fiduciaries to correctly calculate the tax relief to claim.
The benefits we have listed above are only a scratch on the surface of what to expect for your business in the UK. However, we must say that registering an offshore company in the UK is never easy because of the long list of documents and other technical requirements. Instead of trying to register your company alone and risking failure, the best option is to seek expert help from ICD Fiduciaries.
The experts at ICD Fiduciaries will help you to professionally prepare the documents for company registration and finish the process fast. The agency will also come in handy to help with strategy formulation, and accounting, among other executive operations.