Limited Liability Partnerships (LLP) - for Non-UK Residents
Charge for services 35
Service Volume discount£ 0
Net cost of services 35
Warning
This service includes
- Ready to trade limited liability partnership
- Companies House filing fee paid by us
- Emailed PDF of Certificate of Incorporation
- Emailed PDF of Statutory Books
- Free Online Company Manager to Maintain your Companies
- Free Online & Telephone Support for the Life of your Company
- Web authentication code to update Companies House records
Optional Free Services
- 1 hour consultation with Accountants. Either face-to-face or by skype.
- Optional referral to bookkeeping and accounting bureau
- Introduction to online accounting software with introductory benefits.
Optional extra
- Registered Office
- Second Partner Service
- One set of documents delivered worldwide by DHL
- Bank referral with Guarantee!
Additional items available at checkout
You can add these items during the order process
Information for Non-UK LLP Company Formation
UK Limited Liability Partnerships
UK Limited Liability Partnerships (LLPs) are used by international businesses as tax efficient vehicles for non-UK international trading purposes.
Key Features of UK LLPs :
- Corporate status- owners (partners) assets are protected because of the partnerships liability is limited.
- Tax Neutral – No UK tax is payable by overseas partners on the partnership’s overseas earnings.
- The UK’s “light touch” approach to regulation means that statutory filing requirements are not onerous for small companies.
- Partners can be individual or corporate bodies.
- There are no restrictions on the residence or nationality of the members of an LLP
Formation :
An LLP is formed by registration at Companies House in the UK. It must have its official address (Registered Office) in the UK. An LLP must have two or more partners and must be a lawful, commercial venture operating for profit. Partners can be individuals or corporate persons, and there is no restriction relating to their nationalities, residency or place of registration.
Companies House will not allow an LLP to use the same name as another company or LLP on its register and the name must end with the words ‘limited liability partnership’ or the abbreviation ‘LLP’.
Partnership Agreement :
Partnerships do not need to file a written constitution with Companies House when they are registered; there is also no legal requirement to have a partnership agreement. However, to ensure a clear understanding between partners, it is recommended that a written agreement be entered into between the parties.
Usually, a partnership agreement would be expected to include details of the nature of the business, members’ shares and contributions, profit and loss sharing arrangements and management formalities as well as the duties of each respective member.
Even in the absence of a written partnership agreement, or if there are certain items not covered by the partnership agreement, default provisions are contained in the Limited Liability Partnership Regulations.
These provisions address, amongst others, the following matters:
- That all members are entitled to have equal share of capital and profit.
- That all members participate in management.
- That the LLP would indemnify members in respect of expenses incurred on behalf of the LLP.
Membership :
An LLP must have at least two designated members. Designated members are responsible for the management of the LLP and have statutory duties which ordinary members do not, such as:
- Signing the annual accounts.
- Ensuring accounts are filed at Companies House.
- Notifying Companies House of changes in the membership, location or name of the LLP.
- Appointing an auditor, if necessary.
A partner ceases to be a member when the LLP is dissolved. Membership also ceases in the event of death or by agreement. The partnership agreement can include provisions for the removal of a partner for breach of the partnership agreement.
Where the number of partners falls below 2 for a period exceeding 6 months, the remaining partner is liable for any the payment of any debts arising after the 6 month period has expired.
Accounts and audit :
An LLP must maintain records of its financial transactions in sufficient detail to enable the financial position of the LLP to be determined at any time.
Accounts must be delivered to the Registrar of Companies no later than 9 months after the relevant period end. There are penalties for late delivery.
Only LLPs that do not qualify as small are required to have their accounts audited. To be considered as small an LLP must meet 2 of the following three conditions for two out of the last three years:
- Annual turnover £6.5m or less.
- Balance sheet total £3.26m or less.
- Average number of employees not more than 50.
Taxation :
LLPs are ‘tax transparent’ which means that each member, not the partnership, will be assessed to tax on their share of the LLP’s income or gains. Any non-UK source profits or gains made by an LLP will not be subject to UK tax unless the members are UK resident individuals or companies.
There are no restrictions on the residence or nationality of the members of an LLP. If the members of the LLP are non-resident and the income of the LLP is derived from a non-UK source, the LLP will not be subject to UK taxation. It is, therefore, possible to have an LLP set up in such a way as to not be liable to any UK taxation.
There is an obligation for an LLP to file an annual partnership tax return whether the partners are taxed or not.
Second Partner Service
We offer a “second partner” service for clients based outside the UK and not having partners available to form an LLP. This allows individuals and single corporate clients to take advantage of the tax neutrality of LLPs even if they do not have an existing partner.
Our terms for entering into an LLP are as follows:
- We will be entitled to an administration fee of £90+vat
- We will own 1% of the partnership.
- Owning 1% of the partnership allows us 1% of profits after managing partner charges.
- Managing partner charges are charged by you against the profits in return for your management of the partnership.
- We will after the expiry of 12 months receive an administration fee of £90. If we do not receive the administration fee at the expiry of each financial year, we will terminate the partnership.
One set of documents delivered worldwide by DHL
We will deliver your printed incorporation documents using DHL’s Express Worldwide service.
Bank referral with Guarantee!
We now have a number of options for non-uk residents. Some that are available even include cashback up to £30.
Whatever happens, if you fail to open an account we will return this net fee (after £4 discount).
Apostille Service
Your document will be legalised by the UK Foreign and Commonwealth Office in accordance with the Hague Convention. The process normally takes about 5 working days. Faster options are available, please ask for details. The price is for a single document. Orders for more than 1 document will attract a 10% discount for each additional document. Postage to an address in the UK is free. Please contact our support team if you want your documents couriered to a destination outside the UK.
Corporate Hijack Protection
Receive an email alert whenever a change is made to your company's details at Companies House.
Certificate of Good Standing with FREE delivery to UK Address
Certificates of Good Standing are issued by Companies House and take approximately 5 days. Postage to an address in the UK is Free. You will be charged EXTRA for Delivery outside the UK
1 hour free Accountants consultation
We will refer you to an accountant who meets your selection criteria. You will be entitled to a free initial consultation. Either face-to-face or by skype.
Pre-submission Review
Use this service to check your application. We will ensure that you don’t make any costly mistakes that will need to be rectified after your company has been created.
Guaranteed Same Day Service
This service guarantees that your company will be formed on the day you place the order; providing the order is placed on a normal working day before 2.15 pm.
Telephone Answering Services
Option 1 - Receive calls and take messages with Free 0207 number.The charge for each message will be £1.25+vat. A non-refundable deposit of £25+vat is required for this service. The annual fee is £145+vat.
Option 2 – Free 0207 number with call divert to UK telephone number and message taking. The annual fee is £145+vat. The charge for each message will be £1.25+vat and diverted calls will be charged at cost+15%. Requires a further deposit of £100 of which £25+vat is not refundable.
Option 3 - Free 0207 number with call divert to overseas telephone number and message taking. The annual fee is £145+vat. The charge for each message will be £1.25+vat and diverted calls will be charged at cost+15%. Requires a further deposit of £200 of which £25+vat is not refundable.
UK Post Box Service
Add our post box service to your order and we will accept all your post and hold it for you to collect. That includes letters, parcels and signed for items such as registered or recorded mail. Unlike the Royal Mail we are able to accept signed for items from ANY courier source. You may collect or have your mail collected on your behalf. A handling fee of 17p per item of post will also be charged.
Warning: To be a director of a company or a partner in an LLP, you have to give Companies House your name, date of birth and residential address. Companies House will publish this information on their website, which is available for anyone to access. As a consequence your personal information will be available to complete strangers.
The risks are obvious:
- Identity theft: The amount of information that is available on social media and other websites about individuals makes it increasingly easy to steal their identity. Making a name, address and date of birth available on an open website makes it so much easier for fraudsters.
- Physical Risk: If your company operates a Business to Consumer (B2C) model, you can become the focus of a customer’s attention without being aware of the fact. Making your home address publicly available makes you vulnerable.
Director’s service address: Companies House will allow you to provide a service address, and that will be published instead of your personal address. If you do not have an office address that you can use as both Registered Office and Director’s Service address, you should consider using our Registered Office Service. The Director’s service address is provided free of charge.
Order Processing Time.
We cannot guarantee completion of your order in 3 hrs.
Unless you have asked for a pre-submission review, Your completed order will be submitted to Companies House as soon as you place it and they will take from 3- 24 working hours to process your it. The time taken by Companies House to process an order is completely outside our control.Companies House is open between 8.30am to 6 pm (Monday to Friday).
Same Day Service.
If you need your company formed on the day you place your order, we offer a same day service. We charge £23+vat to cover additional fees charged by Companies House. The guarantee is only effective if you place your order before 2.30 p.m. on a working day.
Registered Office Service
The discounted reg office price is £22+vat
Your Registered Office and director's service address will be 27 Old Gloucester Street,
London WC1N 3AX. Your personal address will not be on display at Companies House.
Package includes:
- Registered Office for 1 year.
- Free Directors service address for all directors for 1 year.
- Free delivery of official post (letters from HMRC, Companies House and the Courts) via our unique scanning service.
- Free maintenance of Statutory Records.
- Fixed annual renewal fee of £36+vat per year.
Please Note:
Please note that we provide a correspondence address and not a freight forwarding address. We will not accept parcels weighing more than 10 kilos or exceeding the following dimensions: 46cm x 33 cm x 27 cm.
We are rated Excellent by our clients
Rated 9.6 out of 10 by our customers