UK Investment Guide
UK Investment Guide Service
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The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain is a sovereign state located off the northwestern coast of continental Europe. It is an island country spanning Great Britain, the northeast part of Ireland, and many small islands.
The UK is a developed country, with the fifth largest economy in the world, the UK has a gross domestic product (GDP) of US$2,345 billion (Source: World Bank, 2007) and is forecast to have the strongest business environment of all major European economies for the period 2007 to 2011 (Source: EIU, 2007).
With a population of 60.6 million (Source: ONS, 2007) and unemployment well below the EU average, the UK has a strong workforce to support the economy.
It is a leading global trading nation, as the second largest exporter and third largest importer of commercial services, and the seventh largest exporter and fourth largest importer of merchandise (Source: World Trade Organization, 2007).
The UK has a corporate tax rate lower than any other G7 country with a headline rate of 28 per cent (introduced in April 2008). An extensive network of double taxation treaties ensures that overseas businesses coming over here will not have their income taxed twice. Generous tax allowances such as R&D tax credits add to the UK’s attraction for overseas investors.Personal tax rates are also highly competitive and individuals becoming UK residents are entitled to a basic tax-free allowance.
1. The World Bank found that it takes 13 days to set up a business in UK, compared to the European average of 32 days. It ranks the UK first in Europe and sixth in the world to operate a business. Source: World Bank.
2. According to Transparency International, the UK is one of the most transparent (least corrupt) countries in the world. It has a higher rating than France, Germany, USA and Japan.
3. The OECD noted that the UK is second in the world for Product Market Regulation behind Australia, has the least barriers to entrepreneurship in the world and has the third least barriers to trade and investment in the world. Source: OECD.
4. To register a property, the UK is ranked above France, Germany, Ireland and Italy. Source: Cushamn and Wakefield.
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