Buy or register a Partnership in Wales (LP)

Afortis Group offers professional legal services for company incorporation in the UK. Our specialists will help you register or purchase a shelf company in the shortest time as a tax-exempt vehicle for your business.

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. Recently, a direct legislative regulation is developing, including in corporate and financial legislation.
Considering the recent changes in corporate and tax laws, when working with traditional offshore companies becomes more complicated, we started providing services of company incorporation in Wales (Welsh PC). They work perfectly with offshore schemes.

Wales is a country that is part of the United Kingdom and the island of Great Britain. It is located in the Southwestern part of the UK. 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.

Wales often referred to as a tax haven, is the most popular jurisdiction for the international tax planning. The number of registered companies in Wales is growing every day. An LP (Limited Partnership) is not liable to tax in the UK. Since Wales is a white-listed jurisdiction for creating a profitable business, European Banks are happy to see such companies among their clients.

Welsh 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.

Company Registration in the UK – Welsh Partnership – Prices

Basic

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

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
  • Nominee Director
  • 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
  • Nominee Director
  • Issue of a general power of attorney
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A Limited Partnership (LP) is the most popular form of Welsh company, which has two founders: at least one general partner and one limited partner at all times. Partners can be individuals or corporate bodies, and there is no restriction as to the nationality or residence of the partners.

A Welsh L.P. 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. The founders should pay taxes from the profits received by the LP company in their place of residence in proportions according to their Shares. For example, an LP has as members one Seychelles company and one from Belize, which receives the income outside the UK, is tax-exempt. The members will pay taxes in the country of their residence.

When an LP is registered, a Tax number is automatically assigned by the UK authorities (UTR number).

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 to the company incorporation in Wales and other issues related to the operation of your business.

How to register an offshore company in Wales?

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, the company becomes offshore when entering into the partnership with classic offshore companies (it is recommended to use 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 Wales?

  • 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

  • Registration Form LP5 of Application for Registration
  • Certificate of Registration
  • 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

  • Welsh Partnership L.P. 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.
  • Confidentiality. The main advantage of the Welsh partnership is a closed register of beneficiaries. Information about one the founders of the Partnership (partners) is stored in the Open State Register. When using the nominee service, the actual owner is not visible in the public domain. Information about the beneficiary of the Partnership is only available to the registered agent under complete confidentiality.
  • 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.
  • Welsh Partnerships (if the partnership does not conduct business in the UK, and its participants are non-UK residents) are not required to file a tax return and reporting. You have no additional costs for accounting services.
  • Simple account opening

Non-resident LP in wales is perfect for:

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