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Company registration in Scotland
- Price:from 1300 EUR
- Term:3 weeks
Scotland is a part of the United Kingdom that combines European status, tax incentives and the affordability of creating an international business. Although the jurisdiction is autonomous from Britain, it inherits the best English traditions and laws.
A popular destination in Scotland is the registration of a tax-free LP company, in fact, offshore. Such a business structure is suitable for conducting cross-border trade, Internet business, consulting services, holdings. Scottish partnerships are recognized as a legal entity and, accordingly, have the right to enter into contracts, transactions and hold assets on their behalf at the international level. With the right legal approach, Scottish partnerships will be an excellent alternative to classic offshore companies.
- identification of the client according to the KYC procedure
- preparation of draft documents
- registration procedures
- payment of the registration fee
- services of a legal address for a year
- preparation of a package of corporate documents under apostille and notarization
- corporate seal
- legal and tax advice
- one courier delivery
- verification of the company's compliance with all compliance and KYC criteria
- legal support of the company
- services of a legal address for a year
- preparation of an annual static report on the company
- legal and tax advice
Opening a business account for a company in the Payoneer or Emerald24 payment systems is a comprehensive service from our company. This service does not require additional payment, as we strive to ensure the most comfortable start of your company and emphasize the importance of our cooperation. You pay only bank fees in accordance with the requirements of the payment system, and we take full responsibility for communication with the payment system and collection of documents.
Please note that this offer is valid only if the company's activities comply with the specified payment systems (high and ultra-high risk are not included in the list of permitted activities).
- 1Scotland is not offshore, but is used as a tax-exempt jurisdiction
- 2Profitable trade links with EU and EEA
- 3Non-resident partnerships are fully exempt from local taxation
- 4No annual reporting requirements for partnerships
- 5Foreign citizens are entitled to 100% ownership of the company
- 6You can set up a company in Scotland at minimal cost
- 7Possibility of acquiring local real estate
- 8Registration of a Scottish company takes place completely remotely
Scotland, as an autonomous part of Great Britain, uses the English system of taxation. The main advantage for non-residents is the complete tax exemption if the partnership income is generated outside the Kingdom. Non-resident partners pay taxes at the place of their registration. In turn, if residents of Scotland are appointed as partners, the basic income tax rate of 19% will be applied to the company.
VAT is payable only when trading within the country, and mandatory registration as a VAT payer is required for resident companies if the annual turnover exceeds 85 000 GBP.
In Scotland, the law allows the formation of a company limited by shares (private or public), partnership, limited partnership, branch or representative office.
When non-residents consider registering an offshore company in Scotland, a limited partnership (LP) is suitable for this purpose, which, with the right corporate structure, allows you to avoid taxation.
- Capital – no minimum size specified.
- Partners - a private or corporate person of any residency. Minimum two partners required.
- Director – the functions of managing the company are performed by the general partner.
- Secretary - optional, appointment is not mandatory.
- The register of beneficiaries is open, data on ultimate owners are publicly available.
- Available information - about the name of the company, legal address, the size of the authorized capital, partners, beneficiaries.
- Substance requirements – not applicable.
- Legal address - an office in Scotland is required.
Scottish partnerships do not file annual financial statements and are not audited if non-residents are appointed partners and all activities are carried out outside the UK.
Despite such benefits, LP companies are required to file zero tax returns (Tax Return) every year, as evidence of the lack of activity and income in the jurisdiction. There is also a requirement to update the registration data for the company by filing an annual static report (Annual Return) with the Registrar.
- 3 desired company names
- description of directions for future work
- national and foreign passports of each partner
- proof of registration address for each partner (eg utility bill) in English