The law of England provides the opportunity to register and use companies with a zero-tax rate in the UK – LLP (Limited Liability Partnership).
Limited Liability Partnership assumes that liability is limited by shares or by guarantee. There are no requirements for authorized capital, there can be at least two partners.
A UK LLP opened by a non-UK citizen or nonresident can allow for earnings that are not taxed in the UK. You are not subject to UK tax if you are engaged in a trade or business outside UK. LLP partners are usually offshore legal entities, enabling companies to reduce international tax burden. LLPs are easy to manage, it takes a few days to incorporate an LLP, and an income tax is paid by the members of the partnership in the country of residence.
UK is not an offshore jurisdiction at first sight as all profits received on the territory of the state are taxed. Besides, a company is required to file annual financial and tax reports.
Reporting is standard: a company files an annual report including information about its partners, the registration address, as well as account information about all the financial transactions during the year. Despite this, English jurisdiction is still attractive to businesses. “Offshore UK” is just a name for foreign companies on UK territory, but if you look closer, it has a basis.
It will help you get started in one of the world’s leading financial centers and expand your business opportunities. The number of incorporated companies is growing every day, due to the modern financial instruments allowing to enhance business profitability. British LLP is perfect for various types of business, both for trading companies and for import/export business dealing with the European Economic Area, CIS Countries, Asia. We advise our clients to have a registered agent in the UK who will provide nominee service (members of the partnership from classical offshore zones), a legal address, help in obtaining documents from the Register of Companies, provide secretarial services and help maintain the business.