Establishing a company in England
England is the main country of the United Kingdom (including also Scotland, Northern Ireland and Wales). It is an island located west of the European continent, bordering on Scotland to the north, Wales in the west, and the English Channel to the south – separating between England and the French coasts. The country also has over 100 small islands close to its various shores. In the distant past England was still connected to the European land mass by a land bridge, but in time separated and migrated westward with the rising sea level. The name originally stems from the Angles - a Germanic tribe that settled in the area in the 5th and 6th centuries, and the official language is of course English. Population is currently estimated at 53 million, and that of the UK 80 million. It is a sovereign state within the British constitutional monarchy, the official head of state is Queen Elizabeth II and its actual political leader is the prime minister.
England is one of the central and most powerful countries in the world, and particularly in Europe. It is not a full member of the European Union and has cautiously chosen to keep its local currency – the pound sterling (GBP). Along with Wall Street in New York and Hong Kong to the Far East, the English capital, London, is one of the world’s central financial centers. Establishing a company there is an attractive opportunity, not only because England is a global financial center, but also thanks to the enormous range of advantages for registering companies.
- The earliest settlers reached England during the early Palaeolithic period (the Stone Age).
- The Jewish community in England is considered one of the largest and most powerful Jewish communities outside of Israel, numbering close to 250,000 people, the majority of which live in London’s north western neighborhoods. The English Jews in the city and generally the country are a relatively rich and successful minority.
- In addition to the great London-based financial sector, in recent years the city municipality has been working diligently to develop a local high-tech center, termed the “Silicon Roundabout”. This ambitious project in East London extended the existing technological base in the region after the 2012 Olympics, and the state and city municipality are currently offering excellent conditions for international companies. Most of the world’s leading high-tech companies already have offices there, and executives in the field say that the Israeli high-tech industry provided a great deal of the inspiration for this project.
- The “City of London”, the central financial district (along Canary Wharf in East London) covers a mere one square kilometer but includes a huge number of international financial institutions. The City has its own local authority responsible for local processes, including a local commissioner responsible for the management of the district working vis-à-vis the London Municipality, although the area has very few residents.
- London has several particularly impressive and unique skyscrapers, such the “Gherkin” of the Swiss Re Tower, a new office building titled the “Cheese Grater”, and the massive “Glass Shard” building close to the London Bridge.
England has one of the biggest economies in the world, although it has undergone dramatic upheavals in the shift of recent decades from a production-based economy to ever-increasing reliance on the financial sector. The local currency it still the pound sterling (GBP), one of the globes strongest currencies. GDP is estimated at 2.7 trillion USD and per capita income at 50,000 USD. From an economy that previously maintained a delicate balance between the public sector and between work unions and employers, the English and British economy has transformed into an incredibly diverse free market. Excluding the financial sector, which is the most significant in terms of national revenues, England still maintains a developed manufacturing sector, as well as an extensive services sector, and it relies on high local consumption rates. Tourism is also an important revenue source, and local agriculture provides 60% of national consumption needs, employing on 2% of the labor force.
The financial sector is based primarily within London, and in some respects the English economy can be divided into two categories – the first including London and regions to the south of the city, and the second includes areas north of the state capital. Tax policies are relatively convenient and competitive in relation to other European countries, including corporate taxes and individual taxation. The country is a member of the EU but not part of the euro zone.
General
Type of company |
Public Limited Company (PLC / Ltd) |
Relevant Companies Law |
Companies Act 2006 |
Offices |
Law requires companies to provide a local office address |
Language of original incorporation documents |
English |
Finance and Taxation
Currency |
GBP |
Corporate tax rate |
25% |
Standard share capital |
1,000 GBP |
Office Holders
Company Secretary (Secretary) |
|
Obligation to appoint company secretary |
Not required |
Obligation to appoint local secretary |
Irrelevant |
Type of entity that may function as company secretary |
Irrelevant |
Director |
|
Obligation to appoint company director |
Required |
Obligation to appoint local company director |
Not required |
Minimum number of directors |
1 |
Type of entity that may serve as company director |
Individual and/or company |
Shareholders |
|
Obligation to register shareholders |
Required |
Obligation to register local shareholders |
Not required |
Minimum number of shareholders |
1 |
Type of entity that may register as shareholder |
Individual and/or company |
Type of shares |
Registered shares |
Accessibility of Information
Company registrar |
Information regarding office holders accessible to the public |
Annual Assembly and Reporting
Obligation to hold annual assembly |
Not required |
Obligation to prepare financial reports |
Required |
Obligation to submit financial reports |
Required |
Accept
