Opening a business in the UK from Spain is a great way to expand your company, tap into new markets and start earning in British pounds. The UK is one of the most popular places in the world to explore when you’re looking to grow your business as it’s an exciting business hub in a great location with a positive and encouraging attitude towards entrepreneurship. With clear guidance and some useful tips, the logistics of registering your business in the UK can be done relatively easily. In this post we’ll share some pointers on how to do this, and offer some options of what might be most efficient for your company.
Laine Redpath
Things to think about and do when registering your business in the UK:
How to register a business in the UK?
There are all sorts of responsibilities to opening and running a business in the UK, or anywhere else in the world for that matter. These include: keeping on top of your taxes; managing and caring for any staff you might employ; and maintaining your customer base, for starters. If you’re already on track with most of these things and you want to take the next leap by registering your company and opening a UK business account from Spain, here’s a checklist that will be helpful to work through:
Find out if you need to register your company: once you’ve decided on the structure of how you will do business in the UK, you’ll have a better idea of how to register your company. There will be some paperwork involved and you’ll need to inform HMRC of your trading status. There aren’t set legal requirements for when you should set up your limited company once you’ve already started trading but it is recommended that you do it at least six months before the new tax year starts in April.
Gather the right documents for your application: Once you’ve decided on a company name and made sure it is available (you can do this through the Companies House name availability checker) it is time to start gathering all the documentation and information you’ll require to register your business in the UK from Spain. You’ll need to appoint a director, a guarantor and identify people with significant control over your company. Once that is sorted you will need to prepare a 'memorandum of association' and 'articles of association'. It might be best to hire an accountant to help with the accounting records and checks you’ll need to keep up to date with. For easy to follow steps on all of this, visit the gov.uk website.
Register your company: You’ll need to register an official address for your business in the UK as well as choose a SIC code that can identify the type of work you do before you register with Companies House. It is likely you can register for Corporation Tax at the same time, but if not, you can do so afterwards with HMRC.
Check that everything is correct after registering: Take your time to make sure you have everything in order. It’s worth reiterating that working with a third-party accountant might be very useful here – they will have a lot of experience on business in the UK and can help out with anything you might find challenging.
Importing from Spain to the UK
One of the critical aspects of trading in the UK is understanding the import process. Here’s a step-by-step guide to help you navigate this process:
- Classify Your Goods: Determine the tariff classification for your products. This classification will dictate the import duties and VAT you’ll need to pay.
- Obtain an EORI Number: You’ll need an Economic Operator Registration and Identification (EORI) number to move goods between Spain and the UK. This number is used by customs authorities to track and register your shipments.
- Hire a Customs Broker: A customs broker can assist with the paperwork and ensure your goods comply with UK customs regulations. They can also help you understand the duties and taxes applicable to your products.
- Arrange Transportation: Choose a reliable logistics provider to transport your goods from Spain to the UK. Consider factors like cost, delivery time, and the nature of your products when selecting a transportation method.
- Prepare Shipping Documents: Ensure all necessary documents, such as commercial invoices, packing lists, and certificates of origin, are prepared accurately. These documents are crucial for customs clearance.
- Customs Clearance: Your customs broker will handle the customs clearance process, ensuring your goods comply with all regulations and duties are paid. Once cleared, your goods can be delivered to your UK customers
How to E-commerce in the UK from Spain
Utilizing E-commerce Platforms
E-commerce platforms like Shopify, WooCommerce, and Amazon can help you reach a broader audience in the UK. These platforms offer tools to manage your inventory, process payments, and handle customer service efficiently. Integrating your business with these platforms can streamline your operations and enhance customer experience.
Digital Marketing Strategies
To succeed in the UK market, you’ll need a robust digital marketing strategy. Utilize social media, email marketing, and search engine optimization (SEO) to reach potential customers. Tailor your content to resonate with UK consumers, and consider running targeted ad campaigns to boost your visibility.
Customer Relationship Management (CRM)
Implementing a CRM system can help you manage interactions with your UK customers more effectively. A CRM system can track customer inquiries, manage sales leads, and provide valuable insights into customer behavior. This will enable you to offer personalized experiences and build long-term relationships with your customers.
Managing Currency Exchange and Payments
Currency Exchange Solutions
Dealing with multiple currencies can be challenging. Use currency exchange solutions to manage your funds efficiently. Services like wamo offer competitive exchange rates and low fees, helping you save on currency conversion costs.
Streamlining Payments
Offering multiple payment options can enhance the shopping experience for your UK customers. Ensure your payment gateway supports popular payment methods like credit cards, PayPal, and local UK payment options. wamo’s business accounts provide easy integration with various payment gateways, making transactions seamless for your customers.
How to Import and Export Between the UK and Spain
Efficient Return Policies
Having a clear and efficient return policy is crucial for maintaining customer satisfaction. Make sure your return policy complies with UK consumer protection laws. Offer convenient return options and communicate your policy clearly on your website.
Providing Excellent Customer Service
Customer service is a key factor in building trust and loyalty. Offer multiple channels for customer support, including email, phone, and live chat. Respond promptly to inquiries and resolve issues efficiently. Providing excellent customer service can set you apart from competitors and enhance your reputation in the UK market.
How to open a UK business account from Spain
It’s become substantially easier over the past few years to open a UK business account from Spain and many other locations outside of the country. If you’re in Spain, there are many online platforms you can use that offer these services, including wamo. This post has already outlined how to register your company through Companies House but of course there are other options to have external service providers to help open a company in the UK from Spain for you. This is usually a better option as they will have more experience registering companies and subsequently opening a UK business account from Spain. They’ll be able to let you know what documents might be missing so you don’t need to restart or delay the process. International trading is easier than it’s ever been before. You no longer need to be a resident in the UK, with a valid address and phone number to be able to start benefiting from doing business with a UK business account. wamo will help you get a virtual business account in the UK – all in 48 hours or less. This will help get your company up and thriving in no time! You will probably have heard of the more recognisable or traditional High Street banks, such as Lloyds Bank, HSBC, Barclays Bank, Santander and Natwest, if you’re from Spain and are familiarising yourself with doing business in the UK. You can open a UK business account from Spain at any of these but the process will ultimately be more complex and expensive. This is particularly the case for international entrepreneurs, and all the more reason for you to look into alternatives to the mainstream.
İlayda Birol
How to start doing international business locally, with minimal hassle
If you are an entrepreneur, a freelancer or run a small business and want to expand your international presence without having to move, the UK is one of the best places for that. The UK economy is developed and the business scene is filled with talented people and interesting companies. You can easily start doing international business in the UK like a local, from the comfort of your home in Spain. Here are some things to think about as you get started:
Setting up your new company in the UK: We’ve talked a bit about the logistics of choosing the structure that works best for your company and how to go about registering it with Companies House. The set up of your business in the UK will also include choosing a name, having an address, nominating a director (this could be you or someone else) and selecting at least one shareholder (an individual or another company). You could do all this on your own, or alternatively work with a company who knows the ins and outs of how to do business in the UK as an international entrepreneur.
Laine Redpath
Incorporating your existing Spanish company into an existing British entity: If you already have your business up and running in Spain and want to branch out to attract a UK customer base, you can think about incorporating your company into an existing or new British entity. Many of the same regulations will apply as what we’ve covered in setting up a new company in the UK. Third-party services can walk you through the process of doing business in the UK from Spain.
Registering yourself as self-employed: If you’ve earned more than £1,000 in the tax year as a freelancer in the UK, you will need to register yourself as self-employed. You can sign up with the HMRC and register for self-assessment, where you’ll receive your Unique Taxpayer Reference number to prove that you’re registered as self-employed.
Open your business account with wamo in just 10 minutes
At wamo we believe in making things as straightforward and as easy as possible! It is super fast and easy to open a business account in the UK from Spain with wamo, especially when compared to options provided by more traditional institutions. As a financial management service provider and a payments platform in one, wamo is much more than a traditional institution and operates differently to the traditional financial institutions you know. Our services and features are streamlined to best suit small businesses and entrepreneurs, with human-centred support every step of the way.
You can open a business account from Spain with wamo by downloading wamo Business from Google Play or the App Store or directly from the wamo website. Your wamo account can be used on your smartphone or from your desktop or laptop - whatever best suits your needs.
You’ll need to share some basic information about you and your business when registering. We’ll also ask you to verify your identity by recording a very short video and asking you to scan your ID. Security is a top priority at wamo so we won’t be using your data for anything other than verifying that you are who you say you are. We also don’t run any credit checks.
Lastly, you’ll need to decide what subscription plan you want to usefor your business in the UK. Take some time to think through what will suit your company best. If you have a big team, for example, having free virtual and physical debit cards as and when you need them makes it worth opting for the higher monthly subscription amount, easily covering this cost every time. At wamo we work hard to provide the best people-centred customer service to make sure you feel supported and empowered along your business journey - from opening a UK business account from Spain to doing business in the UK and everything that it entails. We hope this post has helped nudge you to expand your business horizons from Spain and that it’s offered some useful direction to get it all rolling. Please reach out if you have any questions or want to share any tips we’ve missed. You can contact us via email on support@wamo.io or via the chatbox on our website. We’ll always reply to your emails personally and never send you messages via a no-reply email account.
