The United Kingdom is a jurisdiction of preference for a lot of businesses wishing to trade in Europe. UK companies offer a wide range of advantages other than tax advantages that are often overlooked by many businesses before they set up in the UK.
The UK enjoys a good reputation worldwide for trading; using the UK as a hub for your international business creates an element of trust - FACT
If a company does not trade in the UK, then no taxes are to be paid in the UK - MYTH
All UK companies must pay UK corporation tax on their worldwide income/profit. Business can however benefit from the wide network of tax treaties in order not to be taxed twice.
Limited companies are expected to file their accounts - FACT
Limited companies have to file their accounts with Companies House and HM REVENUE and CUSTOMS on a yearly basis or not more than a period of 18 months.
UK banks are safe in any circumstances - MYTH
We see that banks can sometimes be under serious criticism and restriction from governments and they are therefore banned from trading. This mainly happened in jurisdiction where there are compliance issues or where there are economic crisis. As a result the central bank/government will often freeze all the accounts and it usually takes quite a long time before any issues are resolved. In these cases, business will find them without a bank account and more importantly their funds will be blocked thus starving their cash flow. However, the likelihood of it happening here is less due to the high level of control.
Directors and Shareholders
The directors and shareholders can be of any nationality - FACT
A minimum of 1 natural director is required and the shareholder can be a corporate body
A UK Ltd must have a bank account in the UK - MYTH
There is no requirement to have a bank account in the UK. The company may decide to have a bank account in every country where they trade in order to facilitate trading and benefit from local banks.