Can the company you form be foreign?

[seasky]

With full UK permanent establishment? (e.g. open the UK arm of foreign company)

[zimba]

This is answered in Immigration Rules of multinational companies under Paragraph 48(b) Appendix A:

Multinational companies that are registered as UK companies with either a registered office or head office in the UK are considered to be UK businesses for the purposes of Tables 4, 5 and 6.

Appendix A of Immigration Rules: https://www.gov.uk/guidance/immigration ... attributes