How We Helped a Contractor Set Up in the UK
When discussing international expansion of business, one would assume the business to be a large corporation – however, businesses can come in all shapes and sizes, from a company of 1000 employees expanding into international market to a contractor who wants to go global and have a corporate entity in their own right. Here, we explore the latter, and how Galvin International can help contractors establish their businesses abroad.
Being a company employee versus being a contractor is a very different experience. A contractor can enjoy certain freedoms that an employee cannot, such as a higher salary, a lowered tax bill and more freedom to work as they please – which can also translate into more freedom of when and how long to take holiday for. When coming to the UK from abroad and setting up as a contractor, there are two ways to do so —through an umbrella company or through your own limited company. Expanding your business abroad and setting up a company for yourself can seem like a daunting task, especially in an international market – which is where Galvin International comes in.
Setting Up a Corporate Entity in the UK
A great example of our services can be seen through a recent case, in which we helped an individual through the process of setting themselves up as a contractor in the UK, as they no longer wanted to be a company employee.
One of the main concerns raised by our client was their uncertainty towards administering tax and compliance arrangements themselves. However, the cost of outsourcing this process worried them. Here at Galvin International, these concerns should never stand between our client and the success they wish to achieve, which is why we work hard to find the best solution for each situation.
How We Can Help
As mentioned before, contractors have two options, setting themselves up through an umbrella company or creating their own limited company. In the case of this specific client, after talking them through the compliance requirements they would have to follow as a contractor in the UK, they chose to contract our help to set up their own entity in the UK. As Galvin International employs specialists in all areas of international business expansion, we were able to connect our client with the right person to talk them through all the procedures for setting up a corporate entity in their own right. We then further explained the ongoing tax and other compliance requirements that they would need to follow once the entity was set up.
As the only company offering a comprehensive international expansion concierge service, Galvin International has many trusted partners all around the world to help out with global solutions. In this instance, we were able to connect our client with a partner in the UK who specialises in entity set up and tax and accounting services to UK contractors from a low-cost country base. We worked with the partner to ensure we came up with a proposal that met our client’s needs, both price and compliance wise – ensuring the happiness of our partner and client. Our client has been thrilled with the solution we came up for him – he is finally his own boss and knows that all his needs are being taken care of, hassle-free.
Setting yourself up as a contractor internationally doesn’t have to be difficult, and as we did with this client, Galvin International is capable and ready to help any potential international contractors figure out the best plan for them when expanding into international markets. Get in touch with us today to learn how we can best advise you and work together to find the solutions you need.
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