Local and foreign businessmen who want to invest in a startup in Manchester can benefit from various advantages provided by this city. Manchester is one of the most important economic centers in the United Kingdom (UK), which attracts international talent and investments in various fields. Our lawyer in Manchester can present more on the startup environment.
At a national level, Manchester accounts as the 1st most attractive region for startup registration in the Northwestern region of the country. Overall, Manchester stands out as the 4th most developed economic regions in the UK.
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Why register a startup in Manchester?
Given that in its region, Manchester is the center of the startup industry, investors can be tempted to set up their business here, as they will benefit from all the advantages and the infrastructure that are of importance for such businesses.
A startup in Manchester is simply a Manchester incorporated business that develops its operations in the technology industry. The main characteristic is innovation in this field.
Typically, startups will create different goods, products and services that can be used in a wide range of economic fields. The technologic breakthrough is central to a startup in Manchester or one located elsewhere.
One of the main reasons to invest here is given by the fact that the city benefits from a large pool of talent – from the entire population of the city, of more than 500,000 persons, a large part of it, 39.5%, has higher degree qualification (coded as Level 4).
The education system in the UK is created based on 8 basic levels (where 8 designates persons who have gained a doctorate in their respective field).
A key component of any successful startup center is the programs created to sustain this environment. Manchester benefits from various programs that are sustained at a public and private levels.
From funding to networking and business assistance, foreign investors who want to open a startup in Manchester can find numerous advantages. You can ask for the help of our Manchester solicitors if you need to know the legal pathway to funding for your business.
What are the registration fees in Manchester?
If you will register a company in Manchester or in other parts of the country you will pay the same fees, as they are regulated at a national level. Some basic fees investors will have to pay are:
- the registration of a company made through online application costs GBP 12;
- documents that are sent via postal services will cost GBP 40;
- the processing of documents sent by posts can take 8 to maximum 10 days;
- businessmen who want to register a startup in Manchester as fast as possible have the option to apply for expedite registration, by paying a fee of GBP 100;
- for online registration, the processing of documents can be completed in a very short amount of time, of only 24 hours.
What are the requirements for the registration of a private company?
Our Manchester solicitors can present the full legal framework for the registration of a private company, a very popular way to register a startup.
This company type is the most suitable way to register a business that has the characteristics of a small or medium sized company. For those who have a large capital to invest in a startup in Manchester, the public company can be a more suitable option.
After completing the company’s basic registration steps, the company will gain legal personality, which will determine the initiation of other important matters.
For instance, the investors (the shareholders of the company) have to appoint directors. The minimum number is of 1 director of the private company limited by shares.
In the UK, the minimum age the director can have is of 16 years old, compared to other countries, where the minimum age required by law is of 18 years.
For advice on other basic requirements, it is recommended to request legal advice from Manchester law firms. Our lawyer in Manchester is ready to assist you in any corporate matter, including in tax aspects.