When you start a business you must operate through a trading structure or "vehicle". Three types of structure are commonly used in the UK:
- The sole trader
- The partnership
- The company
Different vehicles can also combine to operate together as Joint Ventures, or as partnerships.
Under European regulations, two alternative vehicles can be formed in the UK for activities within the EU:
- The European Economic Interest Grouping (EEIG)
- The European company, Society Europaea (SE)
When you start a business in any other country than the UK (EU or otherwise) you will find a range of additional trading vehicles. These may be similar to those used in the UK, but different legal principles may well apply. In nearly all other countries you will need to appoint a local adviser to set up your business as it cannot be done remotely.