Scotland

Description

Scotland: this part of the Great Britain is considered to be a prestige area with one of the most liberal taxation system in Europe, which fully exempts limited partnerships from taxation. Scotland jurisdiction ensures stability and reliability of financial transfers, high security level, is a competitive jurisdiction comparing to other European jurisdictions, at the same time being one of the most affordable ones in Europe.

General information about Scottish LP

  • Number of partners: minimum two
  • Status: private individuals or legal entities
  • Residence: may be residents of any country
  • Beneficiaries: the data about beneficiaries and authorized persons are kept in the UK companies’ registry Companies House and are not publicly available
  • Nominal shareholders: allowed
  • Standard registered share capital: 100 GBP

UniverseLAW offers full range of professional services, associated with business organization in Scotland.

Advantages

  • Facilitated requirements for annual reports filing (fixed payment once a year)
  • Extremely simple administration
  • Partners are exempted from taxation in Scotland, if they do not perform business activity in United Kingdom
  • Nominal services possible
  • The price for company registration in Scotland is significantly lower then in other European countries
  • Legal address and office in Scotland (Edinburgh, Glasgow, etc.), is welcomed by the banks and financial institutions all over the world
  • Company registration in Scotland means registration of company in prestige country, which is not listed in any black lists

Taxation

In case the founders are LP non-residents of Great Britain, and the company does not receive any income in Great Britain, the taxation in Scotland is 0%

Obtaining a taxpayer status (UTR – Registration of Unique Taxpayer Reference)

According to the English tax legislation, a partnership must be registered in HMRC (HM Revenue & Customs). The registration in the tax authority is performed by specifically appointed registration agent. He also keeps the accounting and regularly submits documents to HMRC.

Documents

Required documents:

Scanned passport copy

Time required for a company registration:
Ready-made: 1-2 working days

Free option (with own name):
Customized – companies with own name and/or specific shareholders
Time period required for registration of a custom-made company: from 2 to 3 weeks

 

All ready packages of documents are certified by notary and apostilled, accepted by banks and financial institutions

 

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