What you need to know before starting a business in UK

What-you-need-to-know-before-starting-a-business-in-UK

Despite the discussions around Brexit, UK continues to offer good opportunities, in case you are intending to set up a business in the UK here are a few things that you can keep in mind:

Step by step instructions to begin a business in the UK:

1. Do you need a visa?

It is important to understand your UK Business visa status and check if you require a visa to operate your business in the UK.

2. Have you done a business feasibility study

UK business visionaries need a field-tested strategy. This will enable you to decide if your business thoughts for the UK are probably going to succeed and be economical. You’ll have to look into the market and furthermore get ready spending figures. It is necessary to undergo this study for a clear scenario for entrepreneurs Immigration UK.

3. Decide on your business lawful structure

Would you like to turn into a sole trader, partnership, limited company or also a freelance specialist?

4. Select a business name and address:

In case if you are a sole trader with challenges, you can simply utilize your very own name on the off chance that you need. You’ll require a location for with regards to registering your UK business for assessment purposes and joining the organization register in the UK. Only Limited Companies need to register their name, despite the fact that others can enrol as an exchange imprint to prevent any other individual from exchanging under the name

5. If you are setting up as a Limited Company

You should choose directors and a Company Secretary, work out your shares and shareholders, compose your memorandum and articles of association, and open a separate bank account to register for corporation tax.

6. Register with HM Revenue and Customs

You should enrol your UK business with HMRC for expense purposes. Restricted Companies need to enlist with Companies House for a fee.

7. Check for additional licence requirements if applicable to your business.

Contingent upon the idea of your UK business, there might be extra necessities, for example,

        • Licenses or permits (for example to sell sustenance or liquor, play music or exchange the road)
        • Insurance
        • Rules to pursue if you purchase or sell products abroad or store/utilize individual data

If you want to start business in the UK, you can speak to our UK Immigration Experts on +91 22 2850 9857 or +91 9819 025 362. or info@smi.legal and book your consultation appointment with our UK immigration advisor to know about the specific visa category and how you can apply for permission to remain the UK as an entrepreneur.