Entrepreneurs from around the world set up companies in the UK every year and the process is relatively simple. Italian businesses have also expanded their footprints in the UK by bringing their limited companies to the country. In this article, we will guide you through the step-by-step process of setting up a company in the UK from Italy.
Do you need to travel to the country to open a limited company in the UK from Italy?
You’ll be happy to know that you can now open a company in the UK without having to physically go there. With new advancements in technology, it’s now possible to do everything online. You can even appoint a registered agent who will take care of all the paperwork on your behalf. This means that you can set up your business from anywhere in the world with ease- which includes setting up an Italian business in the UK.
Steps to open a company in the UK from Italy
1) Research the UK markets and research your competition:
The first step is to conduct a market analysis of the UK market. This will give you insights into your target audience, your competition and what the current trends are in your industry. This will help you make an informed decision about setting up your business in the UK.
Ask yourself these questions when researching the UK market:
- Who is your target audience in the UK?
- What type of product or service do you want to offer in the UK?
- Is there a demand for your product/service?
- What are the current trends in your industry in the UK?
- How will you be able to beat your competition and make a mark in this crowded marketplace?
2) Choose the right business structure:
Now that you have researched and analysed the scope of your product in the UK market, you must be dreaming of making your company the next big thing in the industry. But hold your horses, there’s a bit more to it than that!
As an Italian business starting a company remotely, you also need to choose the right business structure for your company. This is a crucial decision as it will have an impact on various aspects of your business like liability, taxation and management.
There are several options available for setting up a business in the UK such as sole proprietorship, partnership, limited liability partnership (LLP), a private limited company (Ltd) etc. You need to select the one which best suits your needs and requirements. For instance, if you want complete control over your business, you can go for a sole proprietorship. If you want to share the risk and management with another person or organisation, you can opt for a partnership. The most well-known type of business structure in the UK is the Limited Company.
It is important to choose a structure that suits your business needs and goals.
Some factors that you need to consider while choosing a business structure are:
- The type of business you want to set up
- The number of partners/directors involved in the business
- Whether you want to have limited liability protection
3) Choose a business name, get a virtual address and write a business plan
The most important thing for your business is its name. The name should be unique and reflect the nature of your business. Once you have decided on a name, you need to get it registered with Companies House which is the government body responsible for incorporating and dissolving limited companies.
You also need to get a virtual address which will serve as the registered office address of your company in the UK. This is because, as an Italian national, you are not allowed to use your home address as the registered office address of your company.
After getting the name and address sorted, you need to write a business plan. This will help you understand your business better and also act as a roadmap for your future growth.
4) Register your business with the Companies House
The next step is to register your business with the Companies House. This can be done online and you will need to provide some basic documents which include:
- Business name
- Company address
- Shareholder information
- Information about the director
- Articles of incorporation
Once the registration is complete, you will be issued a Certificate of Incorporation which is proof that your company has been legally incorporated in the UK.
5) Get a business bank account
After your company is registered, you need to get a business bank account in the UK to make your life easier! This will help you keep your personal and business finances separate. You can either open an account with a local UK bank or a fintech company.
Take your business to the UK, from anywhere
If this seems like a lot to you, we’re with you! The process of establishing a company from another country can feel a bit overwhelming, especially when you are not familiar with the UK legal system.
But there's no need to worry as we are here to help you! At wamo, we have helped hundreds of entrepreneurs from 31 countries (and counting!) to set up their businesses in the UK, from anywhere in the world. As a financial management and payments platform that offers a UK company formation service, wamo enables you to get a virtual address, local business account, and easy financial services all from one place, easily.
Additionally, you get excellent customer support, and constant support through the company registration process.
You'll be happy to know that as a busy entrepreneur, you can literally get started with wamo in 10 minutes and set up your company within 2 days.
Basically, the company is built to make the whole process as simple and straightforward as possible so that you can focus on your business goals.