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UK company start-up advice

It’s exciting to expand or set up a business in a foreign country and it should be a time for celebration. A trusted partner can help you channel your energy so that you can focus on making your operation succeed. Our UK business migration service can take care of the regulations and administration, and provide you with key start-up advice, so you don’t have to worry about unforeseen circumstances.

Bridging the gap

Many of our international clients attempt to copy their local employment contracts and apply them in the UK. Unfortunately, the UK legal system does not always allow for this. Whatever type of entity you want to set up, our advice will be tailored to your specific circumstances. We understand your concerns and work through them to ensure that your UK setup is as smooth as possible.

Opening a bank account

Most overseas companies trading in the UK will require a UK bank account to conduct business. Over the last two decades we have built up strong relationships with several banks. Even with our help, the process of setting up an account can be time consuming.

Before setting up a bank account for new customers, UK banks must undertake customer due diligence. This is part of the anti-money laundering (AML) regime and is a key requirement of the Money Laundering Regulations 2007 in the UK. It will usually take about two months to open an account.

Thanks to our experience in helping our clients set up UK bank accounts, we are be able to tell you exactly what kind of information your business will be required to submit to the banks. This will help expedite the process and ensure that your application has the highest chance of success.

As chartered accountants, we are also required to carry out checks on our clients before we can act on their behalf. These “Know Your Client” procedures consist primarily of identifying the client, the source of their funding and the ultimate beneficial owner(s) of the business.

The main UK banks will usually accept the due diligence procedures we perform on our clients’ behalf and, with your permission, we can pass that information onto the chosen bank. This will reduce the time involved in opening the UK bank account. Until your real account is operational, we provide a temporary Client Trust Account.

Operating your UK bank account

The majority of our clients choose us to operate their electronic banking to make the most of their payments. This service includes payroll payments to the employees and HM Revenue and Customs. Payments can be authorised by the client via email or authority can be delegated to us for routine payments. Many of our clients also choose to appoint us as cheque signatories to facilitate manual payments. This is more efficient and enables us to keep costs down while providing UK support to your team whether based here or overseas.

Do you have questions about starting up a UK company? Contact us to speak to an expert consultant.

Contact our business relocation team

South Africa

Regent Square
Doncaster Road
Kenilworth 7708
Cape Town
t: +27 (0) 21 657 2120

United Kingdom

Castlewood House
77/91 New Oxford Street
London
WC1A 1DG
t: +44 (0) 20 7759 7514

Australia

Suite 8.06
9 Yarra Street
South Yarra
Melbourne VIC 3141
t: +613 (0) 86 514 500

Hong Kong

Level 1102
The Lee Gardens
33 Hysan Avenue
Causeway Bay, Hong Kong
t: +852 3959 8681

Our phone lines are currently down for scheduled maintenance. Please email us at accounting@sableinternational.com if you need to contact us urgently.

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