Frequently Asked Questions
What is Instantify?
Instantify is an AI-powered platform that helps you incorporate your business and open bank accounts in the United Kingdom. We leverage advanced AI and automation to simplify and accelerate the process.
Which jurisdictions do you support for company formation and bank account opening?
Currently, Instantify exclusively supports company formation and bank account opening services in the United Kingdom.
How long does it take to set up a company?
With Instantify, you can incorporate your business in as little as 24 hours. The exact timeframe can vary based on the jurisdiction and the completeness of your documentation.
What are the benefits of forming a company in the UK?
The UK offers unique advantages for digital nomads, indie developers, and solopreneurs, including a reputable business environment, access to a strong financial system, and a straightforward company formation process.
Is my business ready for banking and Stripe?
Yes, our setup ensures your business is ready for banking and Stripe payments in the supported jurisdictions, allowing you to operate globally.
What is the total cost and are there any hidden fees?
Our service offers transparent pricing with no hidden fees. We provide various packages covering incorporation, support for payment gateway setup (Stripe, PayPal, etc.), bank account setup, and ongoing support for your company. We have assisted thousands of founders worldwide in accessing the UK and global startup ecosystem.
What is a Director Service Address?
As a director of a UK Ltd company, you are required to provide a director's address for public records. Our director service address provides a correspondence UK address that appears in official public records, keeping your personal home address private. We will forward all official mail from HMRC and Companies House, or scan and email it to you at no additional charge.
Do you charge for mail forwarding?
We do not charge for scanning and emailing or forwarding your company's official mail. You can specify your preferred method via your admin panel; by default, accounts are set up for scan and email.
What is a Registered Office Address?
Every UK-incorporated company is legally required to have a UK registered office. This is the formal and official address of the company and does not need to be the place where the business operates. Companies House and HMRC will always send correspondence to this official address.
Can I integrate co-founders into my company?
For expedited incorporation, we focus on setting up single-person private limited liability companies (one shareholder, one director, preferably the same person). After successful registration, you can securely add additional shareholders or directors as needed.
What is considered official mail?
Official mail typically includes correspondence from Companies House and HM Revenue & Customs (HMRC), and may also include mail from HM Courts & Tribunals Service, Government Gateway, and the Intellectual Property Office.
Can I operate my UK company remotely?
You do not need to visit the UK for any part of the process, from incorporation and bank account setup to payment gateway integration. Our platform enables you to manage everything remotely from your home. KYC (Know Your Customer) procedures are conducted seamlessly through our technology partnership with Veriff, ensuring a smooth and entirely remote experience.
What is the difference between a company name and a brand name?
Your company's legal name can differ from your brand, trading, or website name. For example, your company could be 'ABC Ltd,' while your brand or website is 'XYZ,' and you can operate multiple brands under one company name.
What is a "Non-Resident" UK Company Status?
A company incorporated in the UK is generally considered UK tax resident. However, if the company's 'central management and control' (where strategic decisions are made) is genuinely exercised outside the UK, and a Double Taxation Treaty (DTT) applies, the UK-incorporated company may be treated as solely tax resident in that other country, effectively becoming a non-resident UK company for tax purposes.
Are non-UK sourced incomes exempt from UK Corporation Tax?
For non-resident UK companies, profits derived from activities and customers outside the UK are typically not subject to UK corporation tax. This makes the UK an attractive jurisdiction for businesses with a global client base and no physical presence or permanent establishment in the UK.
What is the Limited Scope of UK Taxation (Territorial Basis)?
UK corporation tax for non-resident companies primarily applies only to profits arising from specific UK-related activities, such as UK property income and gains, trading in UK land, or profits directly attributable to a UK Permanent Establishment (PE). Other UK-source income may be subject to UK income tax, though DTTs can often mitigate this.
What are the crucial considerations for maintaining Non-Resident Status?
To maintain non-resident tax status, it is crucial to ensure that 'central management and control' is demonstrably outside the UK, an applicable Double Taxation Treaty exists, and a UK Permanent Establishment is avoided for main trading activities. Compliance and genuine economic substance in the country of tax residence are also vital.
How does a UK Corporate Entity provide access to Global Financial Systems?
Establishing a UK Limited Company provides global credibility and trust, recognized by major payment processors like Stripe and PayPal, and fintech banking solutions such as Wise and Revolut Business. This legal and financial infrastructure enables entrepreneurs from unsupported regions to open accounts and process transactions through these services, including multi-currency business bank accounts with essential IBANs and SWIFT/BIC codes.