At the end of 2023, I decided to conduct an experiment by forming a company in the UK using the service 1st Formations. My goal was to evaluate how practical and efficient this process is and to determine whether I could recommend this approach to others. As e-commerce business owners often benefit from operating through a registered company, I believed this was worth exploring.
Initial Steps: Contacting 1st Formations
I started by having several calls with a representative from 1st Formations, where we discussed important topics such as taxation and specific registration requirements. These discussions helped clarify the process and address potential concerns. After the initial consultation, I paused the process for a while, which I shared in my Telegram channel here.
It’s important to note that 1st Formations only assists with the company registration process itself. They do not guarantee help with setting up a business bank account, which is a responsibility that falls on the business owner. However, they do work with individuals from many countries, making it a viable option for non-UK residents.
Choosing the Package and Preparing Documents
I selected the Non-UK Residents package for several reasons. I paid using a non-UK bank account, and I confirmed my address with a bank statement. At the time of forming the company, I was living outside of the UK, which allowed me to use my multi-currency bank account to make payments and verify my address.
Here is the list of documents I needed for the registration:
- A valid passport;
- A foreign bank account (in my name);
- Proof of residence outside the UK.
It’s worth mentioning that, depending on your circumstances, you can use different forms of identification or documents in line with the requirements of the registration process.
Company Registration Process
Once I completed the payment and filled out the necessary information on the website, 1st Formations sent me detailed instructions via email with the next steps. The process was straightforward, which I found reassuring.
Once all your documents are accepted, a representative from 1st Formations will notify you. After your company is successfully registered, you will receive an email with your company’s registration documents, officially completing the process.
Final Thoughts
Overall, my experience forming a company in the UK through 1st Formations was smooth and transparent. However, it’s important to remember that setting up a business bank account and managing the day-to-day operations are separate tasks that require additional attention. If you are considering running an e-commerce business, this could be a great option to explore, especially for those seeking to operate internationally.
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