Accountants offer helping hand to foreign businesses looking to set up subsidiaries in the UK

Despite the ongoing doom and gloom of Brexit, accountants Grunberg & Co has said it is standing by to help those businesses that are interested making the most of what the UK has to offer.

Due to the weaker pound and the country’s position as a leader in media and technology, London has seen keen interest from overseas businesses looking to capitalise on the lower costs of setting up a subsidiary or acquiring an existing business in Britain.

Grunberg & Co believes that the establishment of new businesses owned by overseas investors should be encouraged and is offering help with setting up new subsidiaries.

The firm is particularly experienced in this area thanks to its partnership with Reanda International, via its own UK subsidiary Reanda UK.

Through this collaborative relationship the experienced team at Grunberg & Co can gain instant access to expertise from other accountants in more than 30 nations around the world, particularly within China and South East Asia.

Robert Bean, managing partner at Grunberg & Co, said: “The UK has seen an increase in recent years of overseas businesses attempting to buy companies or set up their own subsidiaries in order to capitalise on what the country has to offer.

“Brexit has certainly reduced the cost of doing this, but outside of this ongoing issue there is genuine interest in the UK. Its leading position in the world of tech and media, its portfolio of important intellectual property and friendly attitude and incentives for businesses where some of the key reasons that companies wanted to branch out nationally.”

However, Robert said that those looking to open up shop in the UK should be aware of the various structures through which a business could be set up and the effect this could have on the responsibilities of owners and shareholders, as well as the company’s tax position.

“The UK is one of the easiest places in the world to set up and register a new company, but isn’t without its pitfalls,” he said.

“It is important to seek specialist advice before coming to the UK because the way you establish your business could determine the responsibilities and tax liabilities you face.”

To find out more about Grunberg & Co’ specialist services for UK subsidiaries, please visit www.grunberg.co.uk.