Setting up or expanding your business into the UK is straightforward, and you'll typically choose to set up as either a branch, subsidiary or joint venture. See definitions and advantages and disadvantages for each of these business types.
A branch is simply a UK office of an overseas company (your existing company). It's also known as a 'representative office' or a 'UK establishment'. A branch is not a separate legal entity. A legal entity is any company or organisation that has legal rights and responsibilities, including tax filings. It typically takes one month to set up a branch.
You can choose this type of company if you want to create a separate legal entity in the UK to your existing company. You can set up a new subsidiary or acquire an existing subsidiary. Setting up a new one typically takes one day. A subsidiary usually takes the form of a 'limited company'.
If you plan to set up a subsidiary as a limited company, you must register it with Companies House, the government agency responsible for company registration in the UK.
Another business type to consider is a joint venture with a UK partner. A joint venture can take the form of a company or partnership, or operate as a contract. You need to allow a few weeks to months of research and negotiation in order to set up a joint venture.
Once you've set up a business presence in the UK, you'll need to obtain various types of insurance cover for different parts of the business. For example, UK law requires you to have third party motor insurance if you use a vehicle for business purposes.
Other things that might have to be insured include assets, income, liabilities and people.
If you decide to employ people in the UK, you must get Employers' Liability insurance as soon as you become an employer.
You can search for businesses providing UK insurance expertise in our Investment Support Directory.
