This company was introduced by the United Kingdom Government in 2000. It is a perfect corporate vehicle for the international businessman who is not resident in the UK and who wishes to trade outside the United Kingdom.
Main Features
A United Kingdom Limited Liability Partnership ('LLP') is a form of legal business entity with a limited liability. It has the organisational flexibility of private limited company but is taxed as a partnership. In other words the LLP is fiscally transparent and the liability to taxation is assessed separately on the individual partners. Therefore, assuming that the partners are non UK resident, and all of the revenue is sourced from outside the UK, there will be no liability to UK taxation.
Who is it for?
- Expatriates
- Intermediate Consultants with no UK connections
- International Businessmen trading outside the UK
- International Businessmen investing outside the UK
What is it for?
- Rendering consultancy services to the International Community
- Trading with, and between, Asia, North America, South America, Middle East, Russia and Africa
- Investing in Asia, North America, South America, Middle East, Russia and Africa
- Holding intellectual property
Benefits
- Fiscally transparent
- Has the flexibility of a Company but is taxed as a partnership
- No UK taxation if revenue is sourced outside the UK and the members are non resident of the UK
- Low maintenance costs
- Incorporated in one of the largest economies in the World
- Incorporated in a full leading member of the European Union
- Not regulated offshore
The Type of Corporate Vehicle
Limited Liability Partnership Act 2000
Taxation
The members exemption from UK taxation is only applicable provided that no business or trade is carried out within the United Kingdom. The taxation base of a Limited Liability partnership follows the procedure operated for partnerships. The Limited Liability Partnership itself will not be liable for taxation on profits or gains arising. Taxation will be assessed separately on the individual, partners (members).
Special Promotional Fees
Total fees: USD 1800 including incorporation and first year's annual statutory maintenance fees.
Services included:
- Establishment Fee - Professional Fees for Incorporation
- Annual Fees - Registered office and statutory compliance
- Government Fees - Filing Fees upon incorporation and annual return filing
fees
Optional Services
- Provision of professional designated members
- Mail forwarding and virtual office
- Accountancy and Administration
Fast Track Procedures
Should you be interested in the establishment of a United Kingdom Limited Liability Partnership (LLP) please contact a consultant at our London office who will be pleased to assist.
Jon Dixon
GTA (London) Limited
3rd Floor
14 Hanover Street
Hanover Square
London W1S 1YH
United Kingdom
