Offshore company in Great Britain LLP

UK legislation provides flexible conditions for registration of foreign companies in the form of LLP. The country cannot be called a classic offshore zone in the traditional sense, but the registration of companies in the UK does not become less in demand due to this.

General information

Opening a company in the prestigious European jurisdiction you get a registered office in London. The country did not set requirements on the size of the share capital. The standard size is considered to be 100 000 GBP, it is enough to pay 2 GBP from this amount. The company should include at least two members - companies or individuals without residency requirements. Limited Partnership may issue common shares with voting rights or preference ones without such right, but with guaranteed dividends. UK offshore companies that operate abroad are taxable at zero rate. For registration you must provide a package of documents (articles of incorporation, certificate of registration, application and so on) and to make the down payment (30%).

Entrepreneurs who decided to buy offshore in the Great Britain must annually submit reports, have an office and registered agent within the jurisdiction. Firms are restricted to conduct charitable activities. Registration of company in the UK does not provide a further shift of jurisdiction and transition to a different zone. The country attracts by its stable economy, developed banking system.

Documents required to establish LLP

When registering a company within the UK shareholders can choose a ready one from the list proposed by the “Prifinance” officers or create their own from scratch. The procedure involves submission of the following documents:

• copies of the statutory documents with the Apostille;
• completed application and registration certificate;
• partnership agreement and memorandum of association;
• protocol made at the first meeting of the company participants.

Documents that should be submitted in originals and signed by the nominee partners:

• Form LP5 - Application for registration;
• Certificate of Registration;
• Pre-Incorporation Memorandum of Association;
• Partnership Agreement;
• Minutes of the First Meeting of Members;
• Resolution of Members;
• 2 Certificates of Capital;
• 2 Instruments of Transfer;
• Certificate of Non-Trading - Confirmation of the absence of commercial activities (included also if the company is bought ready-made);
• Declaration of Trust;
• Legalized Power of Attorney - General Power of Attorney under the Apostille (for 1 year or until the renewal date of the company);
• Letter of Resignation - Refusal letter with an open date;
• Nominee Services Agreement.

Advantages of the jurisdiction

UK Offshore zone provides entrepreneurs with a lot of benefits in case of the registration of companies, has high authority of a prestigious jurisdiction. Nominal service will ensure the confidentiality of personal data. When using it the owner of the company is provided with apostilled power of attorney for one year with a possibility of extension.

Advantages of not less importance:

• zero taxation for LLP, founded by two offshore companies and running operations outside of England;
• the removal of obligations to make auditing (under certain conditions);
• no government foreign currency control - it is only important to submit reports in a timely manner, reflecting at least one operation that will show the company’s activity
• good investment climate;
• stable legislation;
• developed economic and banking system.