Choosing a SIC code and share structure as an overseas founder

You can select up to four SIC codes at incorporation, but banks, especially electronic money institutions, use them for automated risk scoring, and vague or mismatched codes such as generic 'other business activities' where the real trade is cryptocurrency or money remittance are a common reason non-resident applications get delayed or declined.

Codes can be updated later via the confirmation statement, but getting it right at incorporation avoids an early flag on your banking application. If your business genuinely spans two activities, list both rather than picking the closest single code.

Issue shares in round, easily divisible numbers, since splitting one share later among co-founders or investors is more awkward than starting with a sensible total. A single class of ordinary shares with equal rights is standard until there is a specific need for different classes.

Decide the nominal value per share and how much, if anything, is paid up at issue, since unpaid share capital remains a debt the shareholder owes the company. Overseas founders sometimes issue shares as fully paid to avoid this liability sitting on the balance sheet unnecessarily.

Our fixed monthly packages for a UK limited company start at £89 plus VAT and run to £169 and £289 plus VAT as bookkeeping, VAT, payroll and reporting are added. One-off filings are sold at fixed prices, and the Companies House fees we pay for you are charged at cost with no VAT added. Overseas owners are quoted on exactly the same published prices as UK-resident clients.

Rates, thresholds and deadlines here reflect the 2026/27 UK position and current Companies House and HMRC guidance. Check GOV.UK, or ask us, before relying on them for your own company.