UK LLP Non-resident Company Formation
The United Kingdom’s legal system, developed over centuries, serves as the foundation for common law legal systems utilized in most Commonwealth countries. The British economy stands as one of the world’s largest. Typically recognized as a mixed-market economy, it has embraced numerous free market principles while maintaining a robust social welfare infrastructure.
The Limited Liability Partnership (LLP) combines elements of a limited company and an ordinary partnership, offering its members limited liability, organizational flexibility, and tax transparency. Although an LLP agreement is not obligatory, it is highly recommended and may be customized by its members to align with their specific needs.
A UK LLP is a business entity where members benefit from limited liability, ensuring the protection of their assets and absolving them of responsibility for the debts of the LLP.
As a transparent business structure with significant advantages, the LLP is not subject to corporate taxation. Instead, members of the UK LLP Non-resident Company pay individual income tax on earnings derived from the business operations of the LLP. When structured correctly, a UK LLP Non-resident Company can achieve tax-exempt status.
UK Limited Liability Partnerships, including UK LLP Non-resident Companies, are not categorized as offshore companies, as there is no offshore legislation in the UK.
All companies, including UK LLP Non-resident Companies, are formed under the same legislation, whether they engage in business within the UK or beyond its borders.
Companies that neither generate income from sources within the UK nor have members who are UK residents are exempt from taxation as UK LLP Non-resident Companies.
For additional information about UK LLP Non-resident Companies, you can check the site Consil Formation.
Advantages of UK LLP Non-resident Company Formation:
If you are interested in the UK LLP N0n-Resident Company Formation, you can contact us any time.
Summary of UK LLP Non-resident Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Limited Liability Partnership (LLP) |
| Corporate Legislation | Limited Liability Act 2000 The Income and Corporation Taxes Act 1988 English Common Law |
| Taxation | For Non-resident sourced activities - Corporation Tax – 0% Tax on Dividends – 0% Territorial taxation system 0% for non-residents that do not derive any income from sources in UK. |
| Currency | Standard Currency - Pound sterling - GBP£ Share Capital can be in GBP or EUR |
| Paid up capital requirement | No paid up capital required (1 GBP£) |
| Time zone | GMT (UTC) |
| Directors (Members act as Directors/Shareholders) | |
| Minimum no. required | 2 |
| Local Member required | No |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | No |
| Local Secretary required | No |
| Registered office required | Yes, local |
| Share Capital | |
| Standard Currency | GBP£ |
| Standard Authorized Capital | Not standard but usually 100 GBP£ |
| Minimum paid up capital | No |
| Accounting Requirements | |
| Preparation of accounts | Required (can be completed by Consil Formation) |
| Requirement for audit | No |
| Accounts public accessible | No |
| Requirement to file Annual Return | Yes (can be completed by Consil Formation) |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your UK LLP Non-resident Company
- Document Notarization per document: € 500
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.