Starting Business in the UK As a Foreigner In 2024
                     5/25/24, 10:45 AM Easy Guide: Starting Business in the UK As a Foreigner In 2024
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Home » How to start business in the UK as a foreigner in 2024? Quick 
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UK Investor, Innovator, Business visas | 8 min 
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How to start business in the UK 
as a foreigner in 2024? Quick & 
Easy Guide
– UK Business Visa Consultant in India – Mumbai, 
Delhi & Bangalore
Don’t have time to read? You can listen to our 
article!
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5/25/24, 10:45 Easy Guide: Starting Business in the UK As a Foreigner 
AM In 2024
Start a business in the UK as a 
foreigner
The SmartMove2UK • By The SmartMove2UK • Feb 16, 
2023 Shar
00:00 e
08:09
Table of Introduction: Starting Business in the 
Content UK As a Foreigner
1. Introduction: Starting 
Business in the UK As a Entrepreneurship is encouraged and promoted in the United 
Kingdom. Though
F2o. rWeihgante arre the different the legal framework to start a UK business as a foreigner is 
pretty much
types of businesses in the streamlined, you can still face challenges if you fail to 
UK? understand what is3. What are the steps you required of 
must follow to start business you.
in the UK as a foreigner? In this blog, we will go over everything you need to know 
about starting
4. How can you establish a business in UK as foreigner, including the various types of company 
foreign company branch in structures,taxation, administration, and the various visas you can 
t5h
apply for.
. eW UhKa?t are the different types 
oBfu sUinKess What are the different types of businesses in 
Visas?
6. What is the UK the UK?
Taxation for businesses? There are several business types in the UK, and you must choose 
the one that
best  ts your company’s structure. You can choose from the 
following:
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7. You can also watch our Being a sole 
video on: Can Foreign proprietorHaving a Partnership 
Nationals Start a Business in rm
Having a Limited Liability Partnership rm – which is also 
t8h. eD Uo Ky!ou need help in known as LLP
starting a Having a Private Limited 
rm
Name The legal business structure you select will affect many 
* aspects of your
company, including taxation, personal liability, and the amount of 
Email administrative
* work you must 
perform.
Contact 
Nos*
Information on (No Enquiry on Sole 
Job / Work Visa)* Proprietor
pro ts after you’ve paid your taxes. You are personally liable for any 
losses your company suffers. When it comes to running and naming 
SUBMIT
ymousrt  caodmhpearen yt,o y coeurtain rules. As a sole proprietor, you have the 
following duties
and responsibilities:
1.Keep track of your income and 
expenses
2.Every year, le a self-assessment tax 
return
3.Pay your income tax
4.Pay for national insurance classes 2 
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–Value Added Tax (VAT)
You must register for VAT if your business meets the threshold.
–Choosing a Company Name
You can either trade under your own name or use a different name 
for your business. If you want to prevent others from trading under 
your company name, you must register it as a trademark
Our MOST TRENDING Blog: How the UK Expansion Worker 
visa will help businesses to set up a branch in the UK!
Partnership Firm
A partnership  rm is the most straightforward way to set up a 
company in the UK as a foreigner, for two or more people who 
would like to run a business together. The duties of a partnership 
business structure are similar to those of a sole proprietor, with the 
exception that you have one or more business partners. When you 
form a partnership rm, you must have a formal agreement 
outlining
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5/25/24, 10:45 Easy Guide: Starting Business in the UK As a Foreigner 
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the agreed-upon split of earnings, losses, liabilities, and 
ownership. When forming a business partnership, you 
must:
1.Select a name
2.Select a nominated partner – the ‘nominated partner’ is 
responsible for the partnership’s tax returns and  nancial 
management
3.Become a member of HM Revenue and Customs (HMRC)
Limited Liability Partnership (LLP)
A Limited Liability Partnership can be formed to conduct business 
with two or more members (LLP). A member can be an individual or 
a company (referred to as a “corporate member”.
As in a regular business partnership, each member pays tax on their 
share of the pro ts, but is not personally liable for any obligations 
that the business is unable to pay. The following are the  rst steps 
in forming an LLP:
1.Choosing a Business Name
https://smartmove2uk.com/starting-business-in-the-uk-as-a- 2.Possessing a registered address 5/19
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3.Having at least two members
4.Having a written agreement outlining how the LLP will be run
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5.Members’ Duties and Responsibilities After Registering the 
LLP with Companies House
6.You must always have at least two “designated members” who 
have more responsibilities than other members
In some cases, your company may be registered as 
one of the structures listed above but operate in a 
different sub-category, such as:
1.A franchise – is a company that already exists and has a good 
reputation. If you own a franchise, you own the rights to use 
the established company’s business plan and operate under 
their brand
2.A freelancer – is someone who uses their skills and experience 
to provide a service (such as writing or photography). This type 
of self-employment works by acquiring clients for whom you 
will perform services
3.A social enterprise – is a business that works to help society or 
the environment in some way. To ensure that they continue to 
work towards societal or environmental goals, these businesses 
https://smartmove2uk.com/starting-business-in-the-uk-as-a- must be open about the pro ts they reinvest 6/19
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4.A charity  rm – is a charity’s goal, like that of a social 
enterprise, is to serve the greater good of society. It is, however, 
unique in that all of its pro ts come from donations.
Each company has its own set of rules and criteria. You may 
want to seek a professional’s legal advice before proceeding.
Private Limited Firm
A Private Limited business must be administered by an appointed 
Director in addition to any shareholders. The  nances of a limited 
company are separate from your personal nances as the founder. 
If you are the company’s sole employee, you can still register as a 
limited company by naming yourself as the Director.
The following are some of the Director’s responsibilities:
1.Follow the guidelines outlined in the company’s articles of 
incorporation
2.Maintain a record of the company’s activities and report any 
changes
3.Accounts and corporate tax returns must be  led
4.Corporation Tax must be paid
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Although employees can be hired, a Director is still legally 
responsible for the company’s records, accounts, and performance.
Because it is a separate legal entity, the company has its own bank 
account and is subject to corporate tax. Corporation tax can be 
registered at the same time as your business is registered with 
Companies House, but unlike income tax, all
pro ts made by a business are taxed, so there is no tax-free 
exemption. In contrast, the government allows for expenses and 
deductions that may reduce the amount of corporate tax owed.
Our MOST POPULAR Blog: How The SmartMove2UK is 
helping the business to set up their business branch in the
 UK?
What are the steps you must follow to start business in the UK as a 
foreigner?
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5/25/24, 10:45 Easy Guide: Starting Business in the UK As a Foreigner 
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Determine your legal standing
This means, any EU citizens who lived in the UK before January 1st, 2021, may be eligible for the EU 
Settlement Scheme, but most of the applicants will need to apply for a UK business visa before starting 
business in the UK as a foreigner.
Fill out a visa application
If you need a visa, you should apply for one ahead of time. The UK offers various visas that cater to 
different businesses. You must only apply for the visa that aptly suits your business type and purpose.
Create a business plan
Entrepreneurs must have a business plan before starting business in the UK as a foreigner. This also 
includes basic market research that will help you determine whether your business concepts are likely to 
thrive and be long-term viable in the UK.
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5/25/24, 10:45 AM Easy Guide: Starting Business in the UK As a Foreigner 
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Determine your business 
Bsetrfourec tsutarreting business in the UK as a foreigner, you must decide the best-suitable business structure 
for your company.
Choose a company name and address
If you are a sole proprietor, you may use your own name. You will need an address when registering 
your UK business for tax purposes and entering the company register.
Only a few businesses are required to register their names; however, you may do so as a trademark to 
prevent others from trading under the same name as your business.
If you are forming a Private Limited Company, you must appoint Directors and a Company Secretary, 
calculate your shares and shareholders, write your memorandum and articles of organization, open a 
separate bank account, and register for corporation tax.
Become a member of HM Revenue and Customs – also known as HMRC
You must register your UK business with HMRC for tax purposes. Private Limited companies must 
also register with Companies House.
Check any additional rules that apply to your industry
Depending on the nature of your UK business, additional requirements such as permits or licences 
may apply.
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How can you establish a foreign company branch in 
the UK?
Companies House requires foreign companies that are eager to do business or establish a branch in 
the UK to register as an overseas company.
If you own a company in another country and want to open a branch in the UK, you must 
complete and submit form OS IN01 to Companies House. The registration fee is £20.
×
g Important Note:
Except for sole traders and partnership  rms, many businesses in the UK require a separate 
UK business bank account. However, it’s a good idea to open a separate bank account to 
keep accounting operations simple.
Different Business visa UK from India and its types explained by our business 
consultant in India.
What are the different types of UK Business Visas?
Below-mentioned are the various categories of UK Business Visas for starting a business in the UK as 
a non-resident.
However, you must consult a UK Business Visa Solicitor or Lawyer to understand which category 
suits you the best!
https:/U/smKart mEovxe2puk.acomn/sstairtoingn-bu sWinesos-inr-tkhee-ukr-a sV-a- isa (UK Business Expansion Visa) 11
foreigner/ /19
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AM In 2024
A UK Expansion Worker Visa allows you to enter the UK and open a branch or subsidiary  rm 
of your existing overseas business
This is the most popular business visa category, as it requires ZERO Investment and is a self-
sponsored route This visa was launched just last year, in April 2022, as a replacement for the 
UK Sole Representative Visa You are also permitted to bring your partner and children (under 
the age of 18 years) to the UK with this visa
Know Everything About UK Expansion
 Worker Visa
UK Innovator Founder Visa
The UK Innovator Visa is suitable for those entrepreneurs who have an Innovative, Viable, and 
Scalable business plan Along with this, you are required to have experience in doing business in that 
industry
In order to apply for a UK Innovator Visa – you must  rst get an endorsement from a UK-
government authorised endorsing body
It is also mandatory for you to have £50,000 as investment funds
You are permitted to bring your partner and children (under the age of 18 years) to the UK with 
this visa
Know Everything About UK Innovator 
Founder Visa
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UK Self Sponsorship Visa
If you are seeking to establish a new business or venture in the UK or already own a business there, you 
might qualify for a Skilled Worker visa through self-sponsorship, where your own UK company sponsors 
you.
Know Everything About UK Self Sponsorship 
Route
UK Skilled Worker Visa
A Skilled Worker Visa holder must always be employed by a UK Sponsor Licence holder in order to 
keep their status However, a Skilled Worker also includes CEO, Managing Director, Director, and 
other owner manager roles
You are permitted to bring your partner and children (under the age of 18 years) to the UK with this 
visa
Know Everything About UK Skilled
 Worker Visa
What is the UK Taxation for 
businesses?
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For tax purposes, all UK businesses and entrepreneurs must register with HMRC and  le 
their tax returns Pro ts earned by self-employed sole proprietors and partnerships are 
subject to taxation
Private Limited companies and foreign corporations with UK branches must register for 
Corporation Tax Corporation Tax is levied at 25% of company pro ts
You must also register for VAT if your business is eligible for it.
×
g Please Note:
You still must apply for a UK Business Visa for starting a business in the UK as a EU citizen. 
There are also multiple investment opportunities in the UK for foreigners in various 
industries and sectors.
You can also watch our video on: Can Foreign Nationals Start a Business 
in the UK!
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5/25/24, 10:45 Easy Guide: Starting Business in the UK As a Foreigner 
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Do you need help in starting a business in the UK?
There are ample business opportunities in the UK for foreigners, make sure you follow our quick 
and comprehensive guide to starting business in the UK as a foreigner in 2024
Our UK-quali ed solicitors and lawyers will ensure a successful UK business registration for 
foreign nationals and also UK business visas for foreign nationals
Our UK Visa Expert is based in India – Mumbai | Delhi | Bengaluru and offers legal advice on all 
matters concerning setting up a business in the UK as a foreigner
If you want further assistance to start a business in the UK as a foreign national; We Are Just A 
Call Away!
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April 16th, 2023 | Categories: UK Investor, Innovator, Business visas | Tags: Business in the UK, Starting 
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