Registering a foreign company in the UK, one of the world’s top financial centers, is what nearly all entrepreneurs aspire to. Please note that the most popular form of incorporation in England is LLP.
If you are considering registering an LLP in Great Britain, our team of professional lawyers will be happy to assist you with that
Things to be Kept in Mind
Registering an LLP in England requires compliance with a number of criteria, of which having a registered office in the UK and paying taxes are the two most important ones.
Please note that LLP owners must pay a number of taxes prescribed by law; however, if you intend to register an LLP in England, you will not have to pay any commercial ones. This is one of the most notable advantages of LLP registration in England.
Since an LLP will not conduct business in the UK, nor receive any income there, it will not be considered a tax resident and required to pay taxes. Registering an LLP in England means that taxes will have to be paid at its founders’ place of residence. Those seeking to register an LLP in the UK, should keep in mind that the number of founders (i.e. physical persons or legal entities) mustn’t be less than 2.
Establishing a UK partnership requires maintaining and filing annual financial statements with the Companies House. Partners’ liability is limited to contributed shares, whose number is predetermined and prescribed in the registration documents.
There are no clearly stated requirements for the registered capital. However, YB Case recommends that the amount of the registered capital be no less than £1,000.
Typically, registering an LLP takes from 2 business days. Please note that fees, including those charged by the government, are included in the cost of registering a British partnership.
It is also possible to open a partnership in England remotely. Individuals and legal entities seking to set up an LLP in England are required to provide the following documents:
- a passport;
- proof of place of residence.
Apart from that, legal entities will have to provide:
- a company’s documents;
- passports of a companys’ founders.
How to Register an English Company?
Looking to buy an LLP in the UK? Considering opening an account with a UK bank for a partnership? Need professional advice and assistance? Why not contact YB Case?