Sole Entrepreneurship (Sole Trader) Registration

Overview: Sole Entrepreneurship (Sole Trader) – is the most basic legal form to operate a business for an individual entrepreneur without forming a legal entity.

Purpose: Registration of a Sole Entrepreneurship (Sole Trader)

Main specifications:

• no minimum capital
• hiring staff is possible
• not a legal entity
• full personal liability

Registering authority: the UK Tax Authority (HMRC)

Term of registration: 5-7 working days

Personal presence: Not required

Conditions for registration:

• Entrepreneur: maximum 1 natural person with residence in the UK (UK citizenship/UK residence permit)
• Registered office address in the UK

Required documents:

• Valid UK passport or UK residence permit
• Document, authorizing to use of the registered office address (Copy of the Rental Agreement, Authorization Letter from the Owner, Certificate on Property)