Great Britain

 

The island state in Western Europe. The capital – London.
State language – English.
Monetary unit – English pound sterling (GBP).
The legal system is founded on a general law.
The head of state – Queen Elizabeth II (I came to the throne on February 6, 1952). The form of government – hereditary monarchy. The legislature is presented by a two-chamber parliament: the upper house is called as chamber of lords (House of Lords) and the lower house – the House of Commons (House of Commons).

Great Britain is one of the leading financial and business centers of the world and significant jurisdiction for the international tax planning. This country is known in the world as jurisdiction with the standard level of the taxation therefore it isn’t classified as “an offshore zone”.

Great Britain is one of the leading financial and business centers of the world and significant jurisdiction for the international tax planning. This country is known in the world as jurisdiction with the standard level of the taxation therefore it isn’t classified as “an offshore zone”.

Organizational form of the company:
Private Limited Company (PLC or LTD) – the company with limited liability of shareholders. Is registered on the basis of Companies Act 2006.

The licensed kinds of activity:
Banks, insurance, investment and financial activity.

Name of the company:
The name has to come to an end, the word Limited or an abbreviation of Ltd.

Special permission is demanded by such names which contain words: England, British, Royal, Queen, Trust, Bank, Insurance, Assurance, and so forth.

Size of authorized capital:
Standard authorized capital of 1 000 GBP (as a rule, 1 000 actions with the par value of 1 GBP).

The minimum paid authorized capital makes 2 GBP.

Minimum number of directors:
One. Also corporate directors are resolved, but there has to be at least one director the natural person.

Shareholders:
At least one. Shareholders nonresidents of Great Britain are resolved.

Registration address:
Yes, in the territory of Great Britain.

Secretary:
There is no obligatory requirement. Natural or legal entity (corporate secretary), residents of any country.

Share issue form:
Ordinary shares – common shares which allocate the shareholder with the privilege of a voice, but don’t guarantee to their owner receipt of dividends and if directors of the company in concrete financial year decide that in interests of the company dividends on common shares won’t be paid, this decision has absolute force;

Preference shares – the preference shares differing from simple in that their owners have no privilege of a voice, BUT dividends on them are guaranteed if the company has no losses and can’t pay in concrete financial year dividends. In that case their payment is postponed to the next year.
Bearer shares are forbidden.

Venue of meetings of shareholders:
In any place.

Nominal services:
Services of nominal directors, shareholders are available.

Requirements about opening of information on beneficiaries:
No.

Public register:
Is open.

Annual accounts:
Annual Return. Contains data on the registration address, partners and the operating bodies of the company. Submit each 12 months from the moment of the organization of the company. On submission of the account is 28 days.

Annual Accounts. Data on financial activity of the company. The first report has to be submitted within 10 months from the moment of the end of the reporting period. By default the reporting period is defined as the end of the month following after a month of anniversary of registration of the company. For out of time submitted accounts considerable penalties are charged. Usually the companies are used so that to submit “the dormant accounts”. The account submit on the basis of the declaration of the beneficiary made in a special form.

Currency control and currency regulation:
No.

Tax regime:
21% – for the companies which profit doesn’t exceed 300 000 GBP.
from 20% to 28% – for the companies which profit makes from 300 000 GBP to 1 500 000 GBP (the exact rate is calculated on a special formula).
28% – for the companies which profit exceeds 1 500 000 GBP.

VAT:
The company can register the VAT number (VAT).

Presence at the list of offshore zones of Ukraine:
No.

Agreements in force with Ukraine:
- about avoidance of the double taxation;
- about mutual protection of investments;
- about confiscation of income gained in the criminal way;
- about cooperation in the sphere of counteraction of legalization (washing) of income gained in the criminal way.

Great Britain

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Great Britain