SWT Stevia is a producer of stevia extract, founded in 2006 from start-ups in Chile and Mexico.
After acquiring land in Mexico and the US for their own production of stevia leaves, the company developed the first organic process of extraction and purification of the sweetener without using artificial ingredients.
With their market and knowledge in sugar substitution formulation in the Americas, Asia and Europe, the company decided to approach the UK market, where they were already selling their products to one of the largest soft drinks companies. The demand for a natural, non-caloric solution for the consumers has increased significantly throughout the years.
“We had a chance to work with UK universities to improve the health of the British population and setting up the UK presence was mandatory to cooperate” said Gary White, UK Export Manager.
EBS established UK subsidiary, HS Ingredients Limited in October 2020 and has been providing legal compliance services, including Registered Office address and Company Secretary since, as well as management accounts, VAT compliance, payroll and more.
“The questions about how to establish our UK entity where quickly answered by the EBS team during our initial call back in 2020. Apart from knowing exactly what has to be done, EBS impressed us with their understanding of our needs as a foreign business, who doesn’t know the UK legal and tax environment”- said Javier Sainz, the Director of SWT Stevia.
“It was so easy to get started using EBS for the set-up and administration of our British company. It was quick and much cheaper for us that way than trying to deal with the process ourselves” Javier added.
Although the UK company was established very quickly, it was extremely difficult to open a UK bank account, and that is when the company asked EBS for help again.
Martin Williams, MD of EBS said: “We see it very often- UK banks are not able to open an account for the company with foreign ownership and no Directors living in the UK, and this is an exact description of our typical client. We had to come up with a solution, which meant that our clients can be fully operational in the UK immediately after setting up a legal entity”.
“I am pleased to say that over the last few months we have built Anti Money Laundering and Know Your Customers controls into our business to be able to comply with the requirements and teamed up with two of the largest high street banks in the UK to provide banking solution to EBS clients”.
Using EBS’s banking service meant that HS Ingredients Limited could finally enable them to fully operate in the UK market.
Today, HS Ingredients has its laboratory at Burnley College at the University of Central Lancashire, where undergoes further research and development of stevia and has a motivation to improve the nutrition of the UK population while meeting the goal of Public Health England to reduce sugar by 80% plus in the coming years.