History of the United Kingdom
The United Kingdom, situated off the North West coast of Europe, has one of the oldest constitutional monarchies in the world. Its capital, London, is the leading financial centre of Europe and one of the most influential cities in the world. Formerly a colonial empire, the country still has 14 overseas territories, and was the birthplace of the industrial revolution. Today, the United Kingdom is the world’s seventh largest economy.
The UK as an Onshore Financial Centre
The United Kingdom is an ideal choice for setting up onshore/offshore entities which benefit from a tax of approximately 5% through a holding company. Company formation in the UK is very simple thanks to its Common Law legal system and relatively low management fees.
The preferred type of onshore company is the Private Limited Company which, when combined with the UK Agency structure, makes it possible to significantly reduce tax leakage. The advantage of the United Kingdom is that for offshore entities, corporate income tax can be reduced to around 3% or 4% and VAT does not apply. Additionally, the country’s excellent international reputation is beneficial for brand image and public perception.
United Kingdom Summary
London is the world’s leading financial centre. It is part of Europe, and has many advantages, including a low tax rate, resulting from an Agency structure, and an excellent reputation. The United Kingdom offers the best possible market conditions for international business and therefore is an ideal jurisdiction for all kinds of trading, service and holding operations.