Public Limited Company (PLC) in United Kingdom — Import / Export & Trading Formation Guide
Choose a jurisdiction with strong logistics infrastructure, favorable customs agreements, and access to major trade blocs (like the EU or US). Consider VAT deferral schemes and free trade zones.
Last verified: June 13, 2026
Corporate Tax
25.0%
State Tax
0.0%
Formation Cost
$134
Annual Fee
$67
Forming a Public Limited Company (PLC) in United Kingdom as a Import / Export & Trading means a total tax burden of 25.0% and an official formation cost of $134. The minimum capital requirement is 50,000 GBP. Standard formation takes 3-5 business days, or 1 business day (Same-day available) expedited. No local director is required; the process can be managed remotely. This guide covers the steps, tax breakdown, banking options, and compliance requirements — all from verified data.
First-year total cost
≈ $2,645
Ongoing (per year)
≈ $1,715
Why Public Limited Company (PLC) for Import / Export & Trading?
A business model focused on sourcing goods from one country and selling them in another. Success relies heavily on supply chain efficiency, customs compliance, and navigating international trade tariffs.
Ideal for
- Physical product brands
- Wholesalers and distributors
- Dropshippers scaling to bulk inventory
- Cross-border B2B traders
Challenges to watch
- Complex customs and import duties
- High shipping and logistics costs
- Cash flow management due to inventory delays
- Regulatory compliance across multiple jurisdictions
Key decision criteria
- Proximity to major ports or logistics hubs
- Availability of Free Trade Zones (FTZs)
- VAT and sales tax registration requirements (e.g., EORI in the EU)
- Double taxation treaties between sourcing and selling countries
Public Limited Company (PLC) formation requirements
Minimum capital
50,000 GBP
Standard timeline
3-5 business days
Expedited timeline
1 business day (Same-day available)
Local director
Not required
Registered office
Virtual office allowed
Notarization
Not required
Directors can be non-residents, but the company must maintain a registered office address in the UK, and all directors must complete mandatory identity verification.
Estimated breakdown (based on avg. $1,000,000 revenue)
Simulate with your own revenue →
VAT / Sales Tax
Standard rate 20%. Registration threshold: 90,000 GBP. Non-UK businesses providing digital services to UK consumers must register for and charge UK VAT, with no registration threshold.
Banking & payments for Import / Export & Trading
Opening a traditional high-street bank account (e.g., Barclays, HSBC) is notoriously difficult for non-resident founders and typically requires a UK resident director and an in-person visit. However, digital banking platforms like Wise and Revolut Business offer a much smoother, remote-friendly onboarding process. Strict KYC and AML regulations still apply, requiring comprehensive identity verification and proof of business activities.
Supported payment gateways
Remote-friendly accounts
Revolut Business
Excellent multi-currency accounts with fast remote onboarding for UK companies.
Wise Business
Ideal for international transactions with low FX fees and local account details in multiple currencies.
Tide
Popular UK fintech offering quick account setup, though primarily focused on companies with UK-resident directors.
United Kingdom incentives & advantages
R&D Tax Relief (Merged Scheme)
20% expenditure credit on qualifying R&D costs.
Full Expensing (Capital Allowances)
100% immediate tax deduction on qualifying capital expenditure.
Public Limited Company (PLC) formation steps
Choose a unique company name ending in 'PLC' or 'Public Limited Company' and verify availability.
Appoint at least two directors and one professionally qualified company secretary.
Complete mandatory identity verification for all directors and Persons with Significant Control (PSCs) via GOV.UK One Login or an Authorised Corporate Service Provider.
Prepare the Memorandum and Articles of Association tailored for a public company.
Allot the minimum share capital of £50,000, ensuring at least 25% (£12,500) is paid up.
Submit the incorporation application to Companies House and pay the £100 digital filing fee.
Apply for a Trading Certificate (Section 761) from Companies House to legally commence business and exercise borrowing powers.
Register for Corporation Tax with HMRC within 3 months of starting to do business, and register for VAT/PAYE if applicable.
Import / Export & Trading FAQ
Do I need a company in the country I am importing to?
Not always. You can often act as a Non-Resident Importer (NRI), but having a local entity can simplify customs, VAT registration, and local banking.
What is an EORI number and do I need one?
An Economic Operators Registration and Identification (EORI) number is required for businesses importing or exporting goods into or out of the European Union.
Should I incorporate in a Free Trade Zone (FTZ)?
FTZs offer tax exemptions and simplified customs procedures, making them ideal if you plan to re-export goods without them entering the local domestic market.
Ready to form your Public Limited Company (PLC)?
Trusted formation partners are coming soon.
Related guides
Complete Public Limited Company (PLC) guide
Taxes, requirements, banking, compliance
Public Limited Company (PLC) cost calculator
One-time and annual cost breakdown
🇧🇬 Import / Export & Trading — Single-Member Limited Liability Company (EOOD)
Tax 10.0% · formation $30
🇨🇾 Import / Export & Trading — Variable Capital Investment Company (VCIC)
Tax 15.0% · formation $180
🇨🇾 Import / Export & Trading — Company Limited by Guarantee
Tax 15.0% · formation $265
🇨🇾 Import / Export & Trading — Sole Proprietorship
Tax 0.0% · formation $100
🚀 SaaS Startup — Public Limited Company (PLC)
Same entity, different business model guide
📦 Amazon FBA & E-Commerce — Public Limited Company (PLC)
Same entity, different business model guide