We would like to present to your attention SCOTLAND , as the new jurisdiction, which we are offering to you for your business solutions and efficient tax planning.What are the characteristics of the Scottish Limited Partnership? Well, it’s pretty the same as the UK Limited Liability Partnership:
- At least 2 members (persons or corporate bodies, no matter where they reside or registered) – you could use nominee services as well;
- Registered office and also a registered agent in Scotland is required;
- The registration process takes approximately 2 weeks and the documents are received in up to 20-25 working days or less;
- Annual return reports with information about members must be submitted to the register
- If you are interested in registration of a company in this jurisdiction, you should know that the name of the company must include “LP” or “LIMITED PARTNERSHIP”.
What are the advantages of Scottish Limited Partnership?
If you want to use this type of a company for international trading, commercial activity or investment purposes, please be advised that it is tax transparent. On the other hand, income of the company is taxed as income of its members and taxation depends on this where the income is received and what is the citizenship or home jurisdiction of the members. Therefore, when a Scottish LP has members (persons or companies) which are not Scottish residents or companies and the SLP has source of income out of Scotland, the SLP won’t be taxed in Scotland. Only members could be obliged to pay some taxes but on the territory of their home countries or jurisdictions. For this reason, if SLP is well-structured and organized, its members are companies registered in jurisdictions where tax rate is 0 % and the SLP has no profit in Scotland, then SLP won’t be taxed.
For more information and prices, please contact us.
SAVA Management Ltd