An LP – a partnership that has two founders of non-residents in the UK – is the most interesting in terms of tax optimization a company formation.
This type of company allows you to avoid taxes when doing business outside Northern Ireland. At the same time, it is totally legal.
Irish LP with foreign members, which does not carry on a business in the UK and derives no income on UK territory, is not liable to tax in the UK. According to UK tax law, an LP is not considered in this country as a subject of taxation. The founders should pay taxes from the profits received by an LP in their place of residence according to their share of interests. For example, an
Irish LP has as members one Seychelles company and one BVI, which receives the income outside the UK, is tax-exempt. The members will pay taxes in the country of their residence.
Given the above stated features, we advise our clients to have a registered Agent in the UK who will provide nominee services (participants from offshore zones, legal address, assist in receiving documents from Companies House, provide secretarial and other services). Our experts will help you resolve all issues related with the company incorporation in Ireland and other issues related to the operation of your business.