Snap Inc, the company that owns Snapchat has announced that its international headquarters will be based on London.
The company has said that the UK is ‘a great place to build a global business’ and this is great news for the UK.
Many other technology companies like Apple, Google, Amazon and others have their international HQs in countries which offer them favorable tax, Apple and Google are located in Ireland and Amazon are located in Luxembourg.
More and more companies are coming under scrutiny in Europe for the way they conduct their tax affairs, so it is a good move for Snap Inc to set up their international HQ in the UK.
Snap Inc already has an office in the UK with 75 staff, this is located in Soho in London and the company will open another office in London shortly.
Source Sky News
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