UK

UK

The United Kingdom with over 110 treaties and a world known investment centre makes it a good gateway into Europe. It continues to be a good location for companies that need a European presence.

• Currency: Great Britain Pound
• Language: English
• Type of law: Common law
• Type of company: Limited Liability Partnership
• Principal Corporate Legislation: Limited Liability Partnership Act 2000
• The income and Corporate Taxes Act 1988 (as amended)
• Uses: Commercial and trading activities, subject to trading restrictions as below
• Trading Restrictions: Cannot undertake business of banking , insurance, financial services, consumer credit or any other activities associated with the finance industry
• Company Name: Restrictions: similar or identical to existing company, name that suggests the patronage of the Royal family or implies an association with the government of UK. Names which include the words assurance, bank, building society, insurance, reinsurance, etc. Or equivalents in foreign language require the approval of the Secretary of State.
• Language of legislation and corporate documents: English
• Taxation: The LLP itself will not be the liable for taxation but the profit or gains will be assessed to tax separately on the individual partners
• Annual license fee: Not applicable
• Double Tax Treaty Network: Party to double tax treaties with many countries, but they are not applicable to partnerships income
• Registered Agent/Office: Must maintain a registered office address within the UK
• Members: Minimum number: Two
• Publicly accessible records: Yes
• Disclosure of Beneficial Owner: Not publicly available
• Directors: Minimum : two must be responsible for the affairs of the LLP
• Nationality: no restriction
• Publicly accessible records: Yes
• Location of meetings: Anywhere
• Secretary: Local or qualified: No restriction
• Share capital: Not applicable
• Annual Reporting: Must file Annual Return and Annual Accounts. Filing of audited accounts is required but small company exemption.