Do i have to be resident to incorporate a business or company?
No, you do not have to be a resident to incorporate your company in the UK/US.
Requirements for registering a business/company in the UK/US.
Basically, the requirements for registering a business/company are your company’s information such as Name, Industry, Company Description, Local phone number, Company website and Company social media handles.
Also, the personal information of the founder(s), as the case may be, includes Owner’s full name, Owner’s email, Owner’s phone number, ID document (international passport and NIN slip), Address and proof of address (bank statement or utility bill).
*Note:* Any founder that owns 20% or more equity in the company would also need to provide the personal information above. Single owner/founder companies are also accepted.
Difference between C-corps and LLC
An LLC is a privately controlled company that isn’t looking to take on venture capital where they’d need to issue stock to investors. It’s similar to an LTD in Nigeria.
A Corporation is the opposite, whereby owners who are called shareholders have the ability to take on additional funding and even go public via an IPO. It’s similar to a PLC in Nigeria and the U.K. Startups in the tech space looking for investors are some of the kinds who incorporate as a Corporation.
Is there a restriction to the kind of business or company one can incorporate?
All legitimate businesses or companies can be incorporated in the UK/US.