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Digital Company Formation

UK Non-Resident LLP

Tax Haven Jurisdictions

Synopsis:

The UK Limited Liability Partnership Act of 2000, introduced the concept of a Limited Liability Partnership (LLP) into UK law. The primary purpose was to afford limited liability to professional firms such as solicitors and accountants hitherto prevented from establishing an ordinary limited liability company due to their respective professional bodies' restrictions. However, despite the relatively narrow original function of the legislation, LLP's have found favour with a much larger audience than expected. In particular, it was found that LLPs could be set up in such a way that they could be administrated outside of the UK and, in effect, potentially transferring their tax obligations outside of the UK to a tax free or low tax jurisdiction. One of the greatest unexpected advantages was that a UK non-resident LLP could apply for a British VAT number in the Isle of Man but without being subject to UK corporate taxes. The SCF Group has the capacity to establish both a Manx VAT number for a non-resident LLP together with full management and control facilities in a number of fiscally advantageous jurisdictions.

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General LLP benefits

  • LLPs are separate legal entities like private limited companies
  • LLPs can be administrated outside of the UK
  • Non-resident LLPs can apply to register for VAT in the Isle of Man
  • Non-resident LLPs can be managed and controlled in a tax free/low tax area
  • LLPs can be registered in as little as 3-5 working days
  • The Limited Liability Partnership Act of 2000 is highly flexible
  • Non-resident LLPs can have a UK based 'Serviced Office' facility even if the UK is not the cent re of management and control
  • Prestige of being a UK legal entity
  • Annual Accounts must be prepared but do not result in tax consequences if the management Centre is in a tax free zone
  • Annual Returns are simple

Popular options

  • Corporate Combined Register (Completed) & Company Seal: Taken by almost all our offshore clients, this includes all appropriate minutes, including where appropriate pre-signed transfer minutes, pre-prepared bearer or named share certificates, registers for members, directors, interests, allotments, transfers and of course your company's certificate of incorporation - Cost US$150.00.
  • Apostilling of company documentation pursuant to the Hague Convention of 1961: Many banks now require official company documents to be legally confirmed as original under the internationally accepted apostilling procedure which SMB can provide at the registration/pre-transfer stage of your company incorporation. Before ordering please confirm whether this process will be necessary with your bank - Please refer to fee schedule.
  • Company administrators/nominee directors: In certain circumstances clients may wish to use the services of nominee directors/administrators as a method of separating themselves from their company and its contractual relationships with third parties. Alternatively, and/or in conjunction with the above it may also be necessary to establish real external management and control in order to maximize tax efficiency (please seek advise from your professional advisor). If you require this service we can arrange for third party nominees to administer your company and will take instructions directly from them. If you want more details on how this service works please contact us by e-mail, telephone or facsimile.
  • If you have any other requirements please contact us by e-mail, telephone or facsimile as we can provide virtually all offshore services including recommending a bank that will accept standard/apostilled company documentation.