Panoptic Insights is engaged in the analysis of European business markets. Based on big data, we collect objective information about the state of the economies of the eurozone countries in the segment you have chosen and describe the growth points with the maximum ROI marketing investment.

In a small note below you will find key information about the launch of a business in the UK.

Great Britain is the fifth-largest economy in the world and the second-largest in Europe after Germany. The country's economy is based on the principles of private property and the free market.

The UK economy largely depends on the services sector, which accounts for about 80% of the GDP. The country is home to many major international financial institutions, and London is considered one of the leading financial centers in the world. The production and construction sectors play an important role in the economy, while the agriculture and mining industries make a minimum contribution.

Panoptic Insights analysts identified several key trends in the fastest-growing segments of the country's economy. Business owners who will come to these industries will have the greatest chances of success.

• The technological sector includes software production companies and online stores.
• Health and social assistance. The aging of the population and the growth of healthcare costs are two factors that contributed to this growth.
• Professional, scientific and technical services. Including legal and accounting consulting.
• The construction sector. The growth of which is due to the growth of state expenses for the infrastructure.
• Financial and insurance services. London will remain a major world financial center since the UK continues to exert its influence on world finances.

Creating a company in the UK is quite simple. There is a lot of information on the government website about all procedures and the necessary documents.

For non-residents of the country, the procedure is as follows:

• Choose the name of the company: you will need to choose a unique name for your company, which is not yet used by another business. It is advisable to check whether the name you have chosen by searching in the Unified Register of Companies is available.
• Register. This can be done online or by mail. You will need to provide the name of the company, the registered office address, as well as the data of directors and shareholders.
• Get a tax number. After registration, you will need to receive a tax number, also known as a unique number for taxpayers (UTR).
• To appoint a UK resident as a director. To conduct economic activity, you need to appoint at least one director who is a resident of Great Britain.
• Get specific licenses or permits. Depending on the nature of your business, you may need additional licenses or work permits in the UK.
• Open a bank account. Opening an account will allow you to conduct calculations with your customers, pay salaries and participate in support programs.

At the opening of the company, people without registration in the UK have the same rights as the residents of the country. Any company opened by a foreigner must have as a key employee (general director, managing director, chief operating director) a citizen of the country and register at this residence.

In addition, government officials may request additional information about non-residents before making a decision to open your company.

It is important to note that the rules and provisions for the registration of the company can be changed. We recommend that you verify the current laws and rules for registering companies before serving and, if necessary, will turn to professionals.