Formation of a UK Company from Hong Kong

Do you have a business establishment in Hong Kong? Are you an entrepreneur based in Hong Kong looking to set up your company in the United Kingdom?

Hong Kong offers many advantages for businesses in terms of ease of doing business, access to mainland China business opportunities & an attractive income tax framework. Yet, why would someone from Hong Kong want to open a company in the United Kingdom?

Yes, there are several advantages in registering your company in the UK. For instance, access to capital can be a primary reason why your successful Hong Kong business would want to establish your company in the UK.

The United Kingdom has the second most active and capital-intensive Venture Capital market in the world, with London being one of the top global hubs for startups and venture capital. The UK is home to a growing concentration of companies in Life Sciences, Healthcare, CleanTech, FinTech, Life Sciences and DeepTech – Artificial Intelligence, Robotics, Semi-Conductors and Quantum Technologies. 

The Venture Capital Unit of the Government connects the best UK early-stage and growth-stage companies with international corporate venture capital firms, venture capital funds and institutional investors.

Advantages of Registering a Company in the UK

London is a prominent financial centre in Europe, houses numerous Fortune-500 companies, making it an appealing destination for non-UK businesses. The robust UK economy and the strength of the British Pound Sterling create favourable conditions for non-UK enterprises. Hong Kong entrepreneurs are increasingly opting to establish businesses in the UK, and the following points outline some of the main reasons behind this trend.

• The UK provides substantial opportunities and capital for expansion, attracting investors, venture capital funds, and trusts.
• Global investors seeking new prospects can connect with potential businesses through the UK's Venture Capital Funds and Trusts.
• The UK is at the forefront of technology and boasts a robust infrastructure development.
• The process of incorporating a UK company is simpler and faster compared to many other nations. The taxation, reporting, and regulatory frameworks are also relatively straightforward compared to many other jurisdictions.
• Initiating a business in the United Kingdom as a foreigner allows active trading of goods and services, leading to profits. Operating through a British business enhances your brand's reception in both the domestic and EU markets.
• Businesses can leverage the highly skilled resources in the UK job market by hiring individuals with the Right to Work in the country.

Can a Hong Kong resident, Hong Kong citizen or a Hong Kong Company register a UK Company?

Yes, it is possible. Any one - any nationality - can start a business in the UK. The basic requirement is that the entity – a sole proprietorship, a company etc. must be registered in the UK (registered address of the entity must be within the UK jurisdiction).

You do not need UK-resident status for starting a company in the UK. You do not need a UK resident or British national to be a shareholder in your company to start your business in the UK.

Foreign nationals can acquire an address in the UK to register your company with the Companies House. This can either be an owned property or a rented property or the property another owner who agrees to have your business registered to their address, or a virtual office address. UBCS can help secure an address for your business - Contact UBCS for UK Address Service.

Does a Non-Resident Need a UK Visa to Start a Business in the UK?

There is no need for a visa to establish a business in the UK. You do not require a Work Visa / Work Permit to start a business in the UK or to register a company in the UK.

Also, it is important to note that starting a company in the UK does not automatically grant you the Right to Work in the UK. Work Visa / Work Permit gives you access to the UK job market, and this makes you eligible to work in the UK and earn ‘Salary’ income.

Speak to UBCS today to understand more about starting a business in the UK - Contact UBCS