Licensing Criteria and Procedures for Applying for UK Crypto Exchange Company Setup
General information
Company structure
- At least one shareholder (natural person or legal entity, no restrictions with regards to citizenship or residence)
- At least one director (foreign residents are allowed)
Taxation
- In general, UK companies are subject to 19% corporation tax
- Special rate of 20% is applicable to unit trusts and open-ended investment companies
- Standard VAT rate is 20%, reduced rates are 5% and 0 %
Accounting requirements
- Submission of Accounts and Annual Return is obligatory
- Accounting records shall be kept in English
- VAT declarations are filed once in 3 months
Secretary - Not Required
Registered Agent - Not Required
Registered office - Not Required
Registered address - Required
Company name
- Language: Any
- Letters: Roman alphabet
- If a name includes words which imply specific functions e.g. “holding company”, “group”, etc. further information will be required
- Cannot contain such words as Bank, University, Society, co-op, etc. without being approved by relevant bodies
N.B.
- Restricted connections for company name: name of state, national or local government.
- Company name is restricted to be identical or similar that of an existing company.
In order to establish the Crypto Exchange company, the following steps will be carried out:
- Selection of preferable names by a client
- Preparation of required due diligence
- Initiation of the incorporation process once the company name is approved to be available
- Opening a bank account
In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents.
For that reason, please provide us with the following documents.
For each director and shareholder:
- A notarized copy of valid passport
- A copy of proof of residential address (ex. utility bill that is not older than 3 months)
If shareholder is a legal entity:
- Valid certificate of Good Standing
- Valid certificate of Incumbency
In order to open a bank account for the UK Crypto Exchange company, you will be required to provide the following documents:
- Certified copy of a valid passport (of each Shareholder and Director)
- Proof of address (e.g. recent utility bill of each Shareholder and Director)
- CV (of each Director and Shareholder)
- Optional: Bank reference (of each Director and Shareholder)
-
Optional: Legal reference (of each Director and Shareholder
N.B.
- If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
- Please ensure that notarization is in English language if not then please provide with notarized English translation.
- When Shareholders are legal entities, it is required to provide apostilled set of corporate documents and certificates of Incumbency and Good Standing.
Additional documents may be requested by the Company House or local bank at any point to verify specific information