Can you really open a Brazilian company in the UK in 2 days?
Communication Team
Communication Team

December 23, 2022

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Can you really open a Brazilian company in the UK in 2 days?

With strong ties between Brazil and the UK, many entrepreneurs from Brazil are considering setting up their business in the UK as it provides great benefits like low corporate taxes, unrestricted movement of skilled professionals, great demand for products and a well-developed infrastructure.

The best thing about setting up a company in the UK is that it can be done online. You don't have to leave your home country to get started, and plenty of resources are available online to help you with the process. It is, however, necessary for you to get familiar with a few legalities and processes before you start your business.

In this post, we'll walk you through the process and steps to open a company in the UK from Brazil.

Why are the UK markets a great match for Brazilian businesses?

There are many reasons why Brazilian businesses would be interested in launching operations in the UK. For starters, the country has a well-developed infrastructure with excellent communications and transport links. This makes it easy for companies to expand their reach across Europe and beyond.

Brazil and the UK have a long-standing and strong trading relationship dating back more than 200 years. It is the UK’s largest trading partner in Latin America with bilateral trade in goods worth billions.

While Brazil is simply a big market with industries like automotive, renewable energy & environmental solutions, healthcare and life sciences performing excellently in the local markets, there is a huge demand for these industries in the UK. The demand is predicted to grow in the coming years as well.

Having a presence in the UK will give Brazilian companies an edge with an open market to penetrate, and access to a large pool of talented professionals. In addition to the obvious advantages, Brazilian businesses operating in the UK can take advantage of a number of services and support programmes that are available specifically for multinationals.

Types of Companies in the UK

There are a number of different types of companies that can be set up in the UK. These include:

1) Private Limited Company (PLC): This arrangement limits an individual's liability to the amount that he or she owns in unpaid shares of a company.

2) Commercial Company: A commercial company is typically used for businesses with more than 10 employees. This type of company offers additional legal protections, such as limited liability and the ability to float shares on the stock market.

3) Limited Company: In this case, the members agree to contribute a certain amount when the company is wound up so creditors and others can collect their claims.

4) Sole Trader: A sole trader is someone who owns and runs their own business without any partners or shareholders. This arrangement offers significant flexibility in terms of how you run your business, but it can also be more difficult to formalise your financial affairs.

5) Partnership: A partnership is a type of company that shares ownership and management between two or more people. This arrangement can offer benefits such as economies of scale, which allow businesses to operate at a lower cost than they would if they were run individually.

Related: What do you need to open a business in the UK?

6 steps of incorporate a company in the UK

Step 1: Company name and business address

The first step is to choose a company name and business address. You can use either your own name or the name of your company's registered office, which is typically the same as its commercial address (your home or place of work). If you are setting your company virtually, you can also have a virtual address for running your business.

Step 2: Members, officers and Persons of Significant Control

Next, you will need to create a list of the members, officers and Persons of Significant Control (PSC). These are the people who are responsible for running your company.

Step 3: Memorandum and Articles of Association

The next step is to prepare a Memorandum and Articles of Association (MOA), which sets out the company's rules and regulations. The MOA should be signed by all members, officers and PSCs, as well as any registered agent you appoint.

Step 4: Share structures (Where relevant)

If your company has shares or other ownership rights, you will need to set out their share and voting structures in the MOA. This information is usually included in a schedule of securities (a document that sets out the terms and conditions of issuing new shares).

Step 5: Choosing a SIC Code

Your business must now choose a Standard Industrial Classification (SIC) code. This is a unique number that identifies your industry and helps businesses to market themselves more effectively.

Step 6: Submit your application

To incorporate your company in the Uk, you will need to fill out an application (form IN01) and submit it to the relevant authority. You can do this in three ways:

  1. The quickest way to register your company is through Companies House and HMRC -Limited company and Corporation Tax. The set-up cost is £12 (£27 in the case of a CIC).

  2. Paper Filing: You can file your application through the mail, or you can go to one of the government's authorised filing centres. The standard fee for this process is £40.

  3. Software: An incorporation application can be filed through software that is compatible with your country of residence. This is usually provided by a company formation agent. The standard fee for electronic filing is £10.

It’s possible to register your company in 2 days!

There are times when your application might take longer than expected due to the complex nature of the paperwork or your company's size or inaccurate information provided by you. In those cases, you can seek the help of professional bodies like wamo. The company helps small and mid-sized businesses to open a company in the UK from Brazil. It just takes 10 minutes to register yourself with wamo, and the rest all the process is taken care of by their team of professionals.

In fact, you can open your company in 2 days with wamo. You can get started right away after downloading the app from the Apple Store or Google Play. Additionally, you can visit wamo's website and register yourself for the process.

Related: Open a company in the UK as a non-resident in 2 days

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