How to register a company in Scotland? - YB Case 2024

Registering a company in Scotland


Scotland is covering a third part of the island of Great Britain. The financial center is the capital of Scotland - Edinburgh. Scotland is not included in the "black lists" of offshore countries and in fact is onshore. That is why is country is suitable for many businessmen that are going to register a foreign company.

Great Britain is known as a country with standard taxation conditions, so no one perceives it as a "tax haven". However, the United Kingdom law allows to register an offshore company in the UK, that is, a non-taxable company - Limited Partnership (LP).

Open a business in Scotland: types of companies

Private Limited Company. Register your business in Scotland as LLC company requires a minimum 1 of shareholders. There are no requirements for authorized capital. The capital is divided into shares. The company is managed by a director (board of directors).
  1. Limited Liability Partnership is a partnership formed by two (or more) participants in order to make a profit. The registration of the partnership in Scotland entrusts the co-founders with personal responsibility for the company's debts. The partnership is governed by the 1980 Partnership Act.

Registration of the Scottish partnership LP:

Taxes in Scotland. If you want to register a Scottish partnership company, they are not taxed. For his income, the responsibility is borne by the partner, not by the partnership itself. Taxes are imposed on partners in the jurisdictions of their location.

Scottish LP - tax-transparent companies, they do not submit reports, provided that they do not do business in the UK. Company registration in Scotland assumes an annual submission to the tax service of the zero declaration. The process of submitting declarations is controlled by the tax service (HMRC). For violation of the reporting standards, serious fines (up to criminal liability) are foreseen.

If you decide to buy a ready-made company in Scotland, the minimum amount of its authorized capital should be 2 GBP.

For the remote registration of business in Scotland, at least 2 partners are required (one is the General Partner - is fully responsible for all the partnership's obligations, the management of the company, the second is the Limited Partner does not participate in LP management and is only responsible for the size of its participation in the partnership). Partners can be both legal entities and individuals.

  • Scotland LP does not pass the audit.
  • A meeting of partners can be held outside of Scotland.
  • Nominee shareholders are allowed as well as directors.
  • If you want to open a company in Scotland, remember that its legal address must be in Scotland.
  • Information about the LP owner is confidential (provided only to the registration agent).
  • The company secretary is not required.
  • If you decide to set up a partnership in Scotland, keep in mind: every year you need to prepare and submit financial statements.

When choosing a name for the registration of the Scottish LP partnership, it is necessary to take into account the fact that some words require additional verification (Association, British, England, Group, Patent Office, National, Trust, University, Welsh, etc.)

Activities of non-resident Scotland LP:

  • international trade operations;
  • consultation and personal service;
  • holding for companies with limited liability;
  • ideal for running an internet business.

Creating a partnership in Scotland can be extremely beneficial to your business. Unlike England and Wales, Scottish LP can act as independent legal entities, which allows them to acquire property, enter into contracts, and start litigation.

To arrange a company in Scotland remotely is an ideal solution for you. To buy a company in Scotland means to get a number of important advantages:

  • prestige of the region;
  • the opportunity to gain access to one of the most developed world banking systems;
  • the possibility of expanding the geography of activities;
  • there is no need to maintain accounting records and file financial statements;
  • under certain conditions the company may not pay taxes;
  • there is no currency control;
  • there are no risks to reputation;
  • to the owner of the company there are no requirements regarding citizenship (an offshore company in Scotland can be registered as a citizen of any country);
  • the opportunity to use the nominal service (when opening a representative office in the region).

Contact our experts that can help you to register your own business in Scotland.

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