November 13, 2020 Investing in the UK
The UK may be coming to the end of its Brexit transition period but it is still very much ‘open for business.’ That’s the message which the Government was keen to promote as it launched a new Office for Investment on 9th November.
The Office, which will be led by the Minister for Investment Gerry Grimstone, is to be based in the Department for International Trade. Drawing on that department’s existing strengths the Office will also look to utilise experience gained within government and the private sector in order to promote inward investment opportunities into the UK. Importantly these opportunities will be designed to align with key priorities such as infrastructure investment, net zero carbon, and advancing research and development.
The Government hopes that providing a single point of contact for those interested in bringing complex projects to the UK can help to smooth the way; resolving potential barriers such as planning or regulatory consent. As Gerry Grimstone commented: “The Office for Investment will make it easier for international investors by bringing the very best of the UK directly to them.”
Launching the project, International Trade Secretary Liz Truss said: “Our more strategic approach to inward investment will help level up the UK, creating more jobs and prosperity across the country. The Office will build our reputation as a world leader in industries of the future such as tech, services, advanced manufacturing and clean growth.”
Businesses which are looking to bring investment and development projects to the UK may well also decide to set up a UK subsidiary. This can benefit international organisations in a number of ways including being able to ring-fence the UK operation and access greater sources of capital through UK markets, as well as potentially carry tax and regulatory advantages. Setting up a UK subsidiary may be relatively straightforward but it is important that companies adhere to UK regulatory and legal requirements.
Those looking to ensure compliance may well decide to use the services of a UK based specialist. Elemental is a member of the Government’s UK Advisory Network. As such we are recognised as a specialist in assisting businesses to set up in the UK. Not only can we help with company formation we can also provide ongoing advice and assistance in areas such as tax and accounting, statutory returns and human resources support. We can also deliver company secretarial services including annual compliance and meeting support.