SCOTTISH PARTNERSHIP LP (SLP)

Afortis Group offers professional legal services for the company incorporation in the UK. Our team of professionals will help you to register/buy a shelf company in the UK in the shortest possible time.

With a prudent reputation, UK is a leading economic, financial and business centre especially when it comes to tax planning. Even though the United Kingdom has a unitary system of government, some powers have been devolved to Scotland, Wales and Northern Ireland. This country is known worldwide as a jurisdiction with a standard level of taxation. However, UK legislation provides the opportunity for incorporating and operating companies with a zero rate of tax, that become offshore under certain conditions.

Scotland, often referred to as a tax haven, is the most popular jurisdiction for the international tax planning.

A Scottish LP (Limited Partnership) is not liable to tax in the UK. It is a partnership with at least two founders (participants) who may be natural persons or corporate bodies from any legal jurisdiction. An LP is registered by submitting registration forms (form LP 5) to Companies House.

Given a fully tax-exempt vehicle, the number of registered companies in Scotland is growing every day. Scottish LP is perfect for various types of business: trading companies, export/import of goods and services from the EU to the countries of the CIS and Asia.

An offshore company registration in the UK – Scottish Partnership – Prices

Basic

590
  • Company registration, including payment of fees
  • Legal address
  • Set of registration documents
  • Registered agent
  • Stamp of the company
  • Apostille of documents

Standard

740
  • Company registration, including payment of fees
  • Legal address
  • Set of registration documents
  • Registered agent
  • Stamp of the company
  • Apostille of documents

Premium

950
  • Company registration, including payment of fees
  • Legal address
  • Set of registration documents
  • Registered agent
  • Stamp of the company
  • Apostille of documents
  • Nominee partners — legal entity
  • Issue of a general power of attorney

Premium+

1150
  • Company registration, including payment of fees
  • Legal address
  • Set of registration documents
  • Registered agent
  • Stamp of the company
  • Apostille of documents
  • Nominee partners — natural persons
  • Issue of a general power of attorney
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Scottish 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 the LP in their place of residence according to their share of interests. For example, a Scottish 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 Scotland and other issues related to the operation of your business.

How to register an offshore company in Scotland?

The company incorporation starts with documents filing to the Companies House. There is an electronic filing through suitably enabled software or web without a personal presence. In fact, a company becomes offshore when entering into the partnership with classic offshore companies (it is recommended to use a a nominee service).

Steps to forming a tax-exempt LP

  • Choosing a company name
  • Filling incorporation documents
  • Payment of fees
  • Registration in the Register of Companies
  • Notarization and apostille of company documents (if required)
  • Delivery of documents to the client

What is required to register a company in Scotland?

  • Passport (scan copy)
  • Proof of address (scan copy, confirming the place of residence, for example: stamp of registration, utility bill or a copy of a similar document)

What you get:

  • LLIN01 Registration Form of Application for Registration
  • Certificate of Registration (Certificate of Incorporation)
  • Pre-Incorporation Memorandum of Association
  • Partnership Agreement
  • Minutes of the First Meeting of Members
  • Share Certificates (2 Certificates of Shares)
  • Resolution of Members
  • 2 Instruments of Transfer (the Instrument of transfer of rights) *
  • Letter of Resignation (Undated (on request) exemption letter from the Nominee Director) *
  • Nominee Agreement (the Agreement of using the Nominee Service) *
  • Power of Attorney*
  • Declaration of Trust*
  • Certificate of Non-Trading*

* Provided in case of using a nominee service

  • A Scottish LP is a perfect solution for those businesses who prefer to operate with an EU-incorporated entity but to have a fully tax-exempt vehicle at the same time.
  • The UK has a reputation for prestigious jurisdiction and enjoys credibility with European Banks.
  • Compared to the English Limited Liability Partnership (LLP), there are no significant differences with the Scottish Partnership, except for submitting of financial statements. It is necessary to submit information about partners (annual return) to Companies
  • House (if you have an agent, all financial statements are submitted on his own). It is not necessary to submit an annual report, neither to Companies House, nor to the tax inspection.
  • A Scottish 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
  • Works for the international business tax optimizing.

Non-resident Scottish LP is perfect for:

  • holding / asset management, real estate;
  • ownership of company shares;
  • international trade;
  • service companies – for example, consulting.