The new domain names would operate along with the existing .uk portfolio, including .co.uk
Nominet, the non-profit body responsible for controlling all net addresses ending in the UK, has launched a consultation to introduce shorter .uk domain name with added security, a digital trust mark and malware protection.
The new domain names would operate along with the existing .uk portfolio, including .co.uk which already has more than 10 million registered domains.
Those companies who want a shorter domain name registered on their name will have to prove they are based in the UK and pay charges up to eight times more than what is charged for a ".co.uk" address.
Shorter '.uk' domain name will attract a charge of £20 per year compared to £5 at wholesale charge for a ".co.uk" address for two years, Nominet said.
The agency has begun a three-month consultation, which will last until 07 January 2013, to get feedback from key stakeholders and ensure that the final proposition will meet the needs of businesses, Nominet said.
Nominet CEO Lesley Cowley said With the UK internet economy estimated to be worth £121bn and increasing, the matters of security, ease of use, and choice are becoming ever more important.
"This new secure domain space would boost the growth of the UK internet economy," Cowley said.
"We are aware that it represents a significant change to the landscape of the.uk internet and we are committed to taking all points of view on board."
Internet Corporation for Assigned Names and Numbers (Icann) is currently developing hundreds of other top-level domains under a separate expansion laid down to create addresses that end in .home, .shop and .play.
Nominet's provides registered firms to use plc.uk and ltd.uk as substitutes to .co.uk, while schools can use .sch.uk; internet service providers can deploy net.uk; org.uk by non-commercial organisations and individuals can use me.uk.