United Kingdom

England, UK – LLP/Other jurisdictions

The United Kingdom is one of the leading financial and business centers in the world and a significant jurisdiction for international tax planning. The country is known in the world as a jurisdiction with a standard level of taxation, and therefore does not carry any signs of a “tax haven”. At the same time, UK law provides an opportunity to register and use companies with a zero tax rate - LLP.

LLP (Limited Liability Partnership) is a partnership of at least two founders - is entered into the Register of Enterprises of England or Wales (Companies House) on the submission of approved forms (form LLP 2). After the completion of the official procedure, Companies House will issue a certificate of Incorporation to the company. At the same time, all other company documents are being developed - general powers of attorney, letters of compensation, etc.

English companies LLP with foreign founders that do not conduct commercial activities in the UK and do not receive income on its territory is not subject to taxation here. According to the tax laws of the Kingdom, LLP is not considered in this country as a separate taxable subject, and taxes on LLP profits - in proportions according to the shares owned by its founders ('' Members '') - should be paid at the place of its residence.
 
For example, the British company LLP, having as founders one Panamanian company and one company from BVI and receiving its income only outside the UK, will not be taxed in this country - taxes, if this is provided zack islation a particular country, the founders will be paid at the place of its registration. Under this scheme, since the tax on BVI and Panama is 0%, the total taxation of the British company LLP will also be 0%.  

As a result, the English LLP with legal correct corporate structure and nominal founders from tax-free jurisdictions can be a tool with a zero tax rate.

  • Basic information about jurisdiction

    Area – 244.755 sq. кm
    Population – 60.500.000
    Government – monarch
    Capital – London
    Official language – english
    Official currency – pound sterling (GBP)
    Time zone – GMT +/– 0

  • Company type

    Limited Liability Partnership (LLP)

  • Directors of the company

    The legislation on LLP companies provides for the management of LLP by its founders (“Members”), who can also serve as directors.

  • Shareholders of the company

    Quantity: at least two
    Status: natural or legal persons
    Residents: residents of any country
    Information on founders: only in the register of enterprises
    Nominee founders: allowed

  • Secretary Company

    There are no requirements for the position of secretary

  • Authorized capital of the company

    Standard declared capital - 1.000 GBP.
    Minimum paid-in capital - no requirements.  

  • Company name

    The name should end with the abbreviation '' LLP ''. Registration of names containing the words '' Bank '', '' Insurance '', '' Trust '', etc., is allowed only if there are appropriate licenses. 

  • Information about the real owner of the company

    Information about the real owner is submitted only to the registered agent and is confidential.

  • Annual Return

    An annual report is submitted every 12 months after registration.

  • Financial Statement

    The financial statement is submitted to the Register of Enterprises (Companies House) annually.

  • Taxation

    In case if the founders of LLP are non-residents of Great Britain and the company does not receive income on its territory, taxation of LLP companies –  0%.

  • Double tax treaties

    Since LLP companies are not UK taxpayers, they are not subject to the interstate agreements concluded by the UK.

  • The term of registration of a new company

    12-15 business days; The term of receipt of the full package of documents is 6-7 weeks.

  • Acceptance of third-party companies for service FIVECONSULT

    Only in coordination with the previous serving agent in the UK.

  • A set of constituent documents of the company

    1) registration certificate (Certificate of Incorporation);
    2) statute / articles of association (General Operating Provisions);
    3) Minutes of the first meeting of founders on the appointment of officers of the company;
    4) the general powers of attorney (General Power of Attorney), signed by the nominee directors, with the purchase of the company are filled in with a specific name;
    5) nominal service agreement ( 6) Share Ownership Certificates signed by nominee directors;
    7) companies stamp.

  • "Ready-made" companies

    Buying ready-made companies is possible. Ready-made LLP companies are constantly available.
  • FIVECONSULT comment:
    The English LLP is an ideal solution for those entrepreneurs who prefer to operate within a company registered in EU countries and at the same time have a completely tax-free instrument in their hands. Considering these advantages, British LLP companies today are one of the most popular forms of international business.
    However, the prestigious status of this tool also imposes certain obligations - the existing financial reporting standards must be strictly observed, because of the late submission financial statements apply significant penalties.

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