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The British LLP Companies, or rather UK or United Kingdom companies, if used in a particular manner, can be, for all intents and purposes, considered offshore companies with zero taxation. The United Kingdom includes England, six counties in Ireland, Scotland, Wales, and Northern Ireland. The United Kingdom is much more than just England.
LLPs are limited liability companies administered in partnership through a written agreement that specifies how it will be administered.
Potentially, LLPs in the United Kingdom with two offshore companies acting as partners, won’t pay any taxes on the companies or personal income taxes in the United Kingdom, provided that the members or partners of the offshore companies don’t reside in the United Kingdom, and that they don’t carry out economic activities in or with the United Kingdom and that control of the LLP is exercised abroad. Taxation in the United Kingdom will, therefore, be qual to zero.
If the company doesn’t operate in the United Kingdom, the partners don’t pay taxes
The members or partners who don’t reside in the United Kingdom will pay income taxes on physical persons (or company taxes in case of a company), only on the profits obtained from economic activities inside the United Kingdom. Furthermore, the members of the LLP can take advantage of more than 100 treaties on double taxation signed by the United Kingdom.
An LLP (Limited Liability Partnership) of the United Kingdom with all partners (members or partners) not residing in the United Kingdom will have to declare their profits in their from operations in the United Kingdom in their income tax declarations; therefore, if there haven’t been any economic exchanges in the United Kingdom, the LLP’s income declaration in the United Kingdom will be presented blank. The balances of the partnerships, including activities abroad, must be archived at the Companies House.
British LLP companies are perfect for subjects NOT residing in the European Community, who want to undertake business in this economic area. The partners can be two natural or legal persons. Using two offshore companies as members or partners, anonymity can be obtained, but it can create problems with the banks that will want to know the (the final beneficiary); therefore, this operation can significantly increase the cost of opening a bank account. Instead, using two physical persons facilitates the relationship with the banks, but can create disadvantages with the automatic exchange of information if these are located in the European Community.
10 advantages of LLPs in the United Kingdom:
- Zero company taxes on the condition that the activity isn’t being undertaken in the United Kingdom. It’s not necessary to present reports, nor is an annual general assembly required.
- Zero income taxes if the members of the LLP carry out their activities outside of the United Kingdom.
- Authorized zero capital or minimum deposit
- Only two members are necessary to form an LLP in the United Kingdom.
- Quick registration, within 24 hours if done within 24 hours.
- An LLP in the United Kingdom must choose a unique name that can’t be similar to an already existing LLP, company name or names.
- An LLP in the United Kingdom must have a legal address which we will furnish in a packet together with a landline or mobile phone, whichever you prefer.
- An LLP in the United Kingdom must have at least two members. The United Kingdom allows both private or legal persons and these must not be residents. We furnish the resident secretary.
- LLPs in the United Kingdom must not have directors or managers because the members act as administrators, even though it is possible to nominate an administrator if you so desire.
- Registration and member data are public.
- British LLP companies with physical person foreign partners
Initial price: EUR 1,600.00
Annual renewal of company and services: EUR 870.00
- British offshore LLP companies with foreign legal persons partners
Incorporation, legal headquarters, postal address (including any proof of address), landline or mobile phone as desired, company secretary, 2 corporate partners (Panamanian offshore company), Agreement between partners.
Initial price: EUR 4,100
Annual renewal of company and services: EUR 2,070.00
- British offshore LLP companies with foreign legal persons partners (company and foundation)
Incorporation, legal headquarters, postal address (including any proof of address), landline or mobile phone as desired, company secretary, 2 corporate partners (Panamanian offshore company and foundation), Agreement between partners.
Initial price: EUR 5,100
Annual renewal of company and services: EUR 2,170.00
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