Scotland LP Offshore company

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Scotland LP Offshore Company Formation

Scotland has a Western-style open mixed economy closely linked with the rest of Europe and the wider world. Traditionally, the Scottish economy has been dominated by heavy industry underpinned by shipbuilding in Glasgow, coal mining and steel industries. Petroleum related industries associated with the extraction of North Sea oil have also been important employers from the 1970s, especially in the north-east of Scotland.

Part of the United Kingdom that covers the northern third of the island of Great Britain, Scotland, is a leading global business and financial center and an important jurisdiction for international tax planning.

A Limited Partnership registration in Scotland offers different advantages than other company formation in the UK. Scottish LPs are considered legal entities and therefore can hold assets in their own name, as well as having significant tax benefits that distinguish them from the structures available in England & Wales.

Scottish Limited Partnerships are not considered as offshore companies as there is no offshore legislation in UK.

All companies are formed under the same legislation, whether they do business in UK or outside of the territory.

Companies that do not derive any income from sources in UK and have partners who are not UK residents are not subject to tax.

Scotland LP Offshore Company Formation

Scotland LP Offshore Company Formation Advantages

  • Separate legal personality: SLPs have a separate legal personality which means the SLP can own its assets, enter into contracts, own property directly (rather than through the General Partner), borrow money and grant certain types of security.
  • 0% Corporation tax – Corporation tax is only charged on profits derived within the territory of UK or if the partners are UK residents.
  • The Partners may be corporate bodies or natural persons from any legal jurisdiction worldwide;
  • There is no minimum authorized or issued share capital requirement;
  • There is no withholding tax on interest, dividends and royalty, no capital gains tax in UK;
  • Interim dividends distribution is allowed. Distribution to foreign entities or individuals are not taxed in UK;
  • Nominee services are available;
  • The partners are only responsible for the amount they contribute to the business;
  • Board Meetings can be held anywhere in the world.

Scotland LP Offshore Company Formation Summary and Main Characteristics:

General Information 
Type of companyPartenship
Corporate LegislationLimited Partnership Act 1907
TaxationFor Non-resident sourced activities - Corporation Tax – 0% Tax on Dividends – 0%
Territorial taxation system 0% for non-residents that do not derive any income from sources in UK.
CurrencyStandard Currency - Pound sterling - GBP£
Share Capital can be in GBP or EUR
Paid up capital requirementNo paid up capital required (1 GBP£)
Time zoneGMT (UTC​)
Directors (Partners – General Partner)
Minimum no. required1
Local Director requiredNo
Location of MeetingsAnywhere
Shareholders (Partners – Limited Partner)
Minimum no. required1
Location of MeetingsAnywhere
Company Secretary
RequiredNo
Local Secretary requiredNo
Registered office requiredYes
Share Capital
Standard CurrencyGBP£
Standard Authorized Capital100 GBP£
Minimum paid up capitalNo (1 GBP£)
Accounting Requirements
Preparation of accountsRequired (can be completed by Consil Formation)
Requirement for auditNo
Accounts public accessibleNo
Requirement to file Annual ReturnYes (can be completed by Consil Formation)
Further Information
Bearer sharesNo
ConfidentialityYes
Nominee servicesAvailable
Need to travelNo
ApostilleYes, Hague Convention 1961
OwnersIndividuals or Corporate

Company Formation Fee

  • Company Formation – with all services included for the first year:  €950;
  • Certificate of Registration;
  • Pre-Incorporation Agreement;
  • Mutual Partnership Agreement and General Operating Provisions;
  • Appointment of Partners, Distribution of Shares, Minutes, Resolutions in accordance with banks requirements;
  • Share Certificate(s);
  • Personal manager assistance for the entire period.
  • Authorized Share Capital of £100;
  • Local Registered Office Address;
  • Registered Agent;
  • Preparation & Filing of Annual Return;

Renewal Fee after one year – with all services included for the next year: €850

  • Personal manager assistance for the entire period.
  • Local Registered Office Address;
  • Registered Agent;
  • Preparation & Filing of Annual Return;

Further Optional Services:

  • Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review – €75 / hour;
  • Nominee General Partner – Individual or Corporate as per client’s request – €350;
  • Nominee Limited Partner – Individual or Corporate as per client’s request – €350;
  • Power of Attorney – General / Special POA Notary Legalized with Apostille, in accordance with official institutions and with banks requirements – €350;
  • Certificate of Good Standing with Apostille, in accordance with official institutions and banks requirements – €300;
  • Certificate of Incumbency with Apostille, in accordance with official institutions and banks requirements – €300;
  • Apostilled & notarized set of company documents – €310;
  • Apostille per document – €180;
  • Notarization per set of documents – €150;
  • Notarization per document – €120;
  • Company Seal – €65;
  • Company Rubber Stamp – €45;
  • Courier – €80;
  • Bank Account opening service – Quotation based on each particular case;

If you are looking to open a bank account in the particular country or bank, please contact as by e-mail office@consilformation.com
or call our Banking Department at +34 685 28 86 93

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