Thursday, July 7, 2022
UncategorizedHow to start a business in Edinburgh

How to start a business in Edinburgh

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Edinburgh is the capital city of Scotland and one of the most prolific cities in the country.

Large numbers of investors from various parts of the world find it very attractive because of the many tax incentives granted by the local authorities.

Not only individual investors find Scotland and Edinburgh appealing, but also large entities such as international companies seeking to expand, and which have found a good niche for their services.

What does it take to set up a company in Edinburgh? Let’s find out below.

Edinburgh Calton Hill
Image: Daniil Vnoutchkov on Unsplash

Researching the Scottish market

All investors know that market research is the first step in starting a business in a foreign country. Those who want to explore specific sectors like the medical one should know that they should try to offer competitive prices. For example, the creation of a hair transplant clinic should match the affordable hair transplant prices found in Turkey.

A feasibility report will also help in establishing the right direction of the business once it takes off.

Choosing the type of structure and registering it

Once the research is complete, the investor will have to direct their attention to the available legal entity which suits his or her business needs.

From this point of view, the limited liability company can represent a good option because it is versatile and can be used for various purposes, among which that of a holding company.

When considering the holding status can offer tax benefits just like an offshore company and a good example in this sense is the Belize holding company, the limited liability company seems like a very good option.

It is also worth noting that the registration of such a business form is quite simple as it can be completed in a matter of days.

Applying for the necessary business licenses

While the tax registration is completed during the business incorporation procedure, the licenses which allow the company to start its activities must be obtained separately.

The licensing phase depends on the authority issuing the business permit, however, Edinburgh is one of the most modern cities in the country when it comes to internet connection and most of the licensing procedures are completed online.

Those seeking to expand their Edinburgh-based companies have various options depending on the country they target.

Those looking for countries where English is commonly spoken can decide to open Singapore subsidiary companies or branch offices, depending on the control they want to exercise on the satellite company.

Starting a business in Edinburgh is quite easy as the modern facilities offered by the local authorities are very helpful. Also, the tax deductions for a quite impressive number of industries make a foreign investor feel like home.

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