Structural types of British corporate immigrants

1. Structural types of British corporate immigrants

1, Self-employed If you want to be a self-employed person or start your own business in Britain, you can become a businessman. As a trader, you can keep all the business profits. You must make your own arrangements to pay income tax and national insurance. You should take personal responsibility for all business debts. Freelancers in Britain are also classified as businessmen. To be a freelancer in Britain, all you have to do is register as a freelancer and make sure you pay the correct taxes and national insurance.

2. General partnership

This type of enterprise involves the establishment of two or more individuals (or companies), and the responsibilities are shared equally by the partners. Profits are also distributed equally, and each partner should pay taxes according to his own share and be jointly and severally liable for debts and losses. This structure is usually suitable for small businesses.

3. Limited partnership

These partnerships are similar to general partnerships, but at least one general partner runs the enterprise and is personally responsible for any commercial debts. A partnership enterprise also has at least one limited partner, who makes a pure financial contribution and is only liable for the amount of its contribution at most.

4. Limited liability partnership (LLP)

This partnership agreement does not involve any partner taking personal responsibility for debts that the enterprise cannot pay. This partnership requires a written LLP agreement and must be registered with the British company registration agency.

5. Private Limited Company (Limited Company)

This type of enterprise is a legal entity different from the operator. To register and establish a limited liability company in the company building, at least one director and one shareholder are required. Company shares cannot be traded publicly.

6. Public Limited Company

The difference between PLC and limited liability company is that its shares can be publicly traded. You must own at least 50,000 pounds of capital stock, and you must pay at least 25% of the capital stock before starting.

7. Unlimited Company

This type of company is not common in Britain. It involves shareholders' unlimited joint and several liability for commercial debts, that is, if commercial assets cannot repay debts, they can be covered by personal assets.

8. Social enterprises

This is a British type of enterprise, and its purpose is to use any profits obtained to meet charitable, social or community goals, rather than to distribute them among shareholders.

The structure of social enterprises is similar to limited liability companies, including charities, cooperatives and community interest companies (CIC).

9. unincorporated groups

This is an unregistered and unregistered non-profit organization, which can include voluntary groups, small community groups and sports clubs.

10, offshore company

The country where the offshore company is established or registered overseas. In the global popular offshore financial centers and tax havens, offshore company registration is a simple process.

Offshore structure can bring a wide range of benefits to companies and company leaders, but before it is established, you need to fully study the rules.

2. Steps for British immigrants to start businesses

1. Check whether you can conduct business legally.

You need to make sure that your immigration status allows you to start a company. For non-EU/EFTA countries, this may mean ensuring that you have the necessary visas and residence permits.

Write a business plan

British entrepreneurs need a business plan. This will help you determine whether your business idea is likely to be successful and sustainable.

You need to study the market and prepare the budget forecast. You can download the business plan and cash flow forecast template from the British government website.

Step 3 determine your structure

As mentioned above, you need to choose the business structure that best represents your enterprise.

4. Select company name and address

If you are a trader, you can use your own name as needed. You need an address to register your British business (for tax purposes) and join the company registration.

Only a limited liability company needs to register its name, while other companies can register as trademarks to prevent anyone else from using the name for transactions.

If you want to set up a limited company, you must appoint a director and a company secretary, calculate the shares and shareholders, prepare the outline and articles of association, open a separate bank account, and register the company tax.

5. registered in HMRC.

For tax purposes, you need to register your British business with HMRC. Limited company needs to register, and the fee is 12 (online) or 40 (by mail).

6. Check any other rules related to your business type.

Depending on the nature of your business in the UK, there may be other requirements, such as:

License or permit (for example, selling food, playing music or trading on the street)

Rules to follow when buying and selling goods or storing personal information abroad:

As long as you have the right to work and live in the UK, you can be a freelancer, self-employed or start a business in the UK.

For non-EU/EFTA nationals, this may mean having relevant work visas and biometric residence permits.

3. Visa types of British immigrants

1, innovative visa

The innovator visa has similar rules to the now abolished entrepreneur visa.

You must have an investment capital of at least 50,000 pounds, or you have invested this amount last year. If you don't invest by yourself, it must come from a fund competition approved by the government, a venture capital fund registered with the Financial Conduct Authority, or a British government department.

You must also abide by other rules, such as showing that you are from a country where English is the main language, or taking an approved English exam.

Visa fee 1, 02 1, valid for three years. If you meet the requirements, you can extend your visa for another three years.

2. Entrepreneurship visa

If you are recognized by British higher education institutions or organizations that support the history of British entrepreneurs, you can apply for a business start-up visa.

You need to prove that your business idea is novel, innovative and has growth potential. Costs range from 308 to 363.

You can stay in Britain for two years with a visa. You can't extend your business visa, but in some cases, they can use it after the business visa expires.

3. Investor visa

If you have 2 million pounds to invest in the British economy, you can apply for an investor visa. The application fee is 1 623, and the earliest time to submit an application is three months from the planned trip.

An investor visa allows you to stay in the UK for up to three years and four months. If you meet the requirements, you can extend your visa for another two years.

Foreign companies set up branches or subsidiaries in Britain.

4. Set up a non-profit company in the UK.

The procedure of establishing a charity in Britain is slightly different from that of a profit-making company. * * * There are six steps:

Find at least three trustees for your charity.

Ensure that enterprises comply with government regulations for charitable purposes.

Choose a name for your company.

Choose one of the four charities recommended by the government.

Create a management document (rulebook) for your charity and explain to the trustee how the company operates.

If you can prove that your charity has an annual income of more than 5,000 pounds or is listed as a charity, you can formally register with the charity committee as a charity now.