Starting a business in the UK ⦁ 喺英國開公司

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Our user asked: What if i want to start a business with 50k GBP once i move to UK, what kind of business would you suggest? Also, which city is the best to start?

Registration is cheap

Registering a company in the UK is just £12. You can hire an accountant to do it as well as your bookkeeping, VAT submission, payroll, and everything relating to money. Bookkeeping can cost somewhere between £100-500 a month.

Rent is high in London

London will put your business forward to more people, but at a higher cost. If you can work from home that is probably the best when COVID-19 is still around. 

What costs to expect

You need to budget for branding and logo design, equipment, supplies, IT, marketing, payroll, office and office furniture, travel, insurance and professional fees. 

NI and bank account

Remember you need national insurance number and a business bank account ready for trading.

Forming company to buy property

Some are interested in forming a company to purchase property in UK for investment. We heard a company called “Get Ground” who can help with this set up.

If you were in the UK you could own and operate several properties through one company, while Get Ground insists on one property per company.

Most of the big UK estate agents probably have services for overseas landlords to do the company administration and pay the tax etc.

Image: Roberto Cortese on Unsplash

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