Company in England for Conducting International Business
Currently, many entrepreneurs and investors prefer to register their companies not in classic offshore zones but in jurisdictions that provide significant advantages for conducting international business. England has long been a recognized global leader in this area, thanks to its stable political climate, reliable legal system, and transparent regulation.
The most sought-after and popular type of company in England is a Limited Liability Partnership (LLP).
Requirements for LLPs in England:
- registration with Companies House, customs, and tax authorities;
- a registered office in the country;
- a minimum of two non-resident members, which can be either legal entities or individuals;
- a minimum of two members must be "designated" members and bear additional legal responsibilities on behalf of the LLP members;
- information about Persons with Significant Control (PSC) must be provided;
- nominee shareholders and directors are allowed;
- annual report on address and partners, financial transactions, and tax return.
Taxation of LLPs
Tax optimization is one of the main advantages of a Limited Liability Partnership in the United Kingdom. If the partners are not residents and their income is earned outside the UK, the LLP will not be subject to taxation. In addition, the income received by the LLP can be shown as the income of the partners who established it, in which case the company is also exempt from paying taxes. When the founding partners of the LLP are tax-free offshore companies, it becomes possible to completely avoid paying taxes in the UK.
How to set up an LLP in England
To register a Limited Liability Partnership in England, it is necessary to prepare and provide the regulator with a package of documents:
- identity documents of the partners;
- proof of residential address of the members;
- LLP Agreement;
- bank statement confirming payment of fees and government charges.
The registration process for an LLP in England takes a few working days. To quickly start a business in England, contact the specialists at IT-OFFSHORE.
