Malaysia Hotline: +603- 2141 8908
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.
Economy
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).
Tax Environment
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.
Key Advantages
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.
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my