UK LLP company

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UK LLP Company Formation

The British’s law legal system, developed over the centuries, is the basis of common law legal systems used in most Commonwealth countries. British economy is one of the largest in the world. Usually regarded as a mixed market economy, it has adopted many free market principles, yet maintains an advanced social welfare infrastructure.

Limited Liability Partnership combines elements of a limited company and an ordinary partnership that offers limited liability, organizational flexibility, and tax transparency to its members. A LLP agreement is not mandatory, however highly recommended and may be developed by its members according to their own specific needs.

UK LLP is a business entity with members who have limited liability. This means that like a limited liability company the assets of the members will be protected and the members will not be responsible for LLP’s debts.

As a transparent business structure with considerable advantages, LLP is not taxed as a corporation. The members of the UK LLP will pay individual income tax on any earnings generated from the business operations of the LLP. Correctly structured, UK LLP can be a tax free entity.

UK Limited Liability 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 members who are not UK residents arenot subject to tax.

UK LLP Company Formation

UK LLP Company Formation Advantages

  • Leading global business financial center and an important jurisdiction for international tax planning;
  • A Limited Liability Partnership has the advantage of taxation like a partnership combined with limited liability, separate legal personality and organizational flexibility.
  • 0% Corporation tax– Corporation tax is only charged on profits derived within the territory of UK or if the members are UK residents. An LLP is transparent for tax purposes with members being taxed individually on their share of the limited liability partnerships income or gains;
  • The Members 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 liability of the members is limited to the investment in the partnership.
  • Board Meetings of Members can be held anywhere in the world.

UK LLP Company Formation Summary and Main Characteristics:

General Information 
Type of companyLimited Liability Partnership (LLP)
Corporate LegislationLimited Liability Act 2000 The Income and Corporation Taxes Act 1988 English Common Law
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 - None required (Members act as Directors/Shareholders)
Minimum no. required2
Local Director requiredNo
Location of MeetingsAnywhere
Company Secretary
RequiredNo
Local Secretary requiredNo
Registered office requiredYes
Share Capital
Standard CurrencyGBP£
Standard Authorized CapitalNot standard but usually 100 GBP£
Minimum paid up capitalNo
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: €1.400;
  • 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;
  • Personal manager assistance for the entire period.
  • Share Certificate(s);
  • 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: €1.200

  • Local Registered Office Address;
  • Registered Agent;
  • Government annual fees;
  • Personal manager assistance for the entire period;

Further Optional Services:

  • Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review – €75 / hour;
  • Nominee Member Partner – Individual or Corporate as per client’s request – €350;
  • Nominee Second Member 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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