Company Setup for Pakistani Residents
The economy of Pakistan is the 24th largest in the world in terms of purchasing power parity (PPP), and 42nd largest in terms of nominal gross domestic product. Pakistan has a population of over 212.2 million with an immense talent. The exports of IT and IT-related services increased to $1.090 billion in the financial year 2018-19 as compared to $1.065 billion recorded in the financial year 2017-18, showing a modest growth of 2.44%, according to data released by the State Bank of Pakistan.
Issues faced by Pakistani:
The major issues faced by Pakistani entrepreneurs are:
- Receiving International Payments
- International Growth, Lack of knowledge.
Here are ACCOTAX – Pakistani Accountants in London, We under the problems faced by Pakistani entrepreneurs, and we have come up with a solution. Please see the Step by step Approach.
- Setup a Limited company in the UK
- Open business bank accounts.
- Setup PayPal/Stripe or other accounts to get payments from international clients
- Grow your business and we will take care of all the accounting & Tax hassle.
Being a Non – Resident in the UK, We can help you to setup a company in the UK while sitting aboard. We need following Information in order to setup a limited company by shares. We can help you to setup a company in a day as long as information is correct and there is no objection from the companies house.
- Proposed Company Name – Kindly provide us 2-3 names just in case, your preferred name is not available.
- A copy of each director’s/Shareholder’s passport (first page)
- Proof of address of each director/Shareholder i.e. driving license or a utility bill
- Registered Office Address – we only charge £120 plus vat a year
- Service Address – Using our address will cost you £120 plus vat per year.
- Any other directors/ Shareholder full name & address.
- Date of birth of each director
- Country of Birth of each Director/ shareholder ( for Security Purpose)
- Eye Colour of a Director/Shareholder (for Security Purpose)
- Share capital details – we normally Issue 1 ordinary share or £1 each to each shareholder
- The nationality of each Director/ shareholder
- The Occupation of each Director/Shareholder
- Contact Telephone Number of Each Director/Shareholder
- Principle Activity of the business
Please not the cost to setup a company is £100 plus vat ( £120.00). Please see other company formation packages that we offer.
Once we have above information, we shall submit the application to companies’ house. We will contact you as soon as we hear from the companies’ house.
Step 2. Open business bank accounts.
Once the company has been setup, the next step is to open a business bank account. You can try opening a bank account with online banks, You can try opening bank accounts with one of the following banks.
- Transferwise Borderless
- Anna Business Bank Account
- Mettle by Natwest
- Starling Bank
- Revolut. com
But if you struggle then we can help you to open a business bank account with another online bank that we work in partnership with. But that comes with the cost. There is an upfront fee to open a business bank accounts starting from £300 plus vat (one off) and then monthly fee that is charged by the bank (minimum £50 plus vat per month).
Step 3. Setup PayPal/Stripe Accounts
Once your bank account is opened, you can setup a PayPal accounts and start trading.
Step 4: Run your business and leave rest on us.
Once everything has been setup, Being a Chartered Accountants for Non Resident in London, we will take care of everything on your behalf. We offer competitive monthly packages for small business based on your business needs.
We have given a complete guide in relation to your responsibilities once you have a limited company in the UK. Please visit ‘’ requirements of a UK limited company guide’’. Should you have any questions , Please feel free to contact us.