New UK Regulations
UK authorities are tightening regulation of companies. First of all, England, but not least also Scotland and Wales, have been one of the most attractive jurisdictions for international business for several decades. Elementary business registration and extremely low requirements for running companies annually attracted tens and hundreds of thousands of international entrepreneurs. However, from March 4, 2024, it was decided to subject certain aspects to greater control. Now the authorities will more seriously check companies’ contact information, registration addresses and reports with confirmation statements. In principle, nothing particularly terrible has happened so far, but we still recommend that our clients and partners pay attention to the state of their British companies. It is expected that warnings and notifications will come at first, but it is always best to act proactively in order to avoid unnecessary difficulties.