The benefits of buying a company in Scotland in 2019
Scotland is a part of the United Kingdom and occupies about 1/3 of the island of Great Britain. The official languages in the jurisdiction are English, Scottish. This country is recognized as onshore. There are many advantages of setting up an organization in this particular jurisdiction.
Features of registration of the organization in the country
Scotland is especially attractive for starting a business because of the special form of organization of its activity - such an OPF, such as SLP, is most often chosen. The advantage of opening such a company is that under certain conditions, the partnership may not pay taxes. Since the country is respectable, the partnership can be used as a substitute for offshore organizations, if doing business with countries pursuing a policy against offshore companies.
The main activities of the organization:
• Perform international operations;
• Consultation and service;
• Holding for LLC;
• Doing online business.
There are many advantages of design partnership in Scotland. The country has a positive reputation, stability from a political point of view. In addition, there is no currency control.
• The ability to access one of the most developed banking systems;
• Ability to expand the geography of work;
• There are no residence requirements;
• In some cases, you can use a nominal service.
At the same time, there are some negative aspects of doing business in this jurisdiction. The partnership must submit a tax return every year. If the partners are non-residents of the UK, there is no possibility to apply double taxation avoidance agreements. Establish a non-tax partnership status can be from publicly available sources.
Characteristics of the partnership and its opening
An SLP partnership may be established under British law. It can enter into contracts and dispose of assets on its own behalf. One or more general partners with unlimited liability must be present in the partnership.
In addition, the organization must have at least one partner with limited liability. It is responsible within the limits of own contribution to capital. The company can not take part in management.
If the partners do not have the status of a UK resident, it is possible to avoid British fees, if the business is not organized within this jurisdiction, the general partner does not have the status of a UK resident, the source of income is located outside the territory of this state. The distribution of income is carried out proportionally according to the share of the contribution of each of the partners.
The average registration time is about 20 days, but you can buy ready-made companies. To get advice on this issue, contact our IT-OFFSHORE specialists.
To open a partnership, the following requirements must be met:
• There must be at least two partners;
• Names of offshore organizations must have LP ending;
• The person must have a legal address;
• Requires a registration agent.
Conditions for the size of the share capital is not provided. The fastest way to design a company is to buy a ready-made organization. If the company opens from scratch, more time is required.