United Kingdom

United Kingdom

A Guide to the Use of Limited Liability Partnerships in the United Kingdom

The United Kingdom offers an excellent and reputable entity for international trading and as a holding entity.

 

A limited liability partnership is a form of legal business entity with limited liability. The main feature of a limited liability partnership is that they have organizational flexibility but are taxed as partnerships. In many other respects they are very similar to companies.

 

Every limited liability partnership must at all times have at least two, formally appointed designated members.   Designated members are equivalent to the executive directors and the company secretary of a company.   If there are less than 2 members, than each is deemed a designated member.

UK LLPs should be established with the intention of making profit and for the purpose of international trade of goods or services either as principal or agent or for the provision of consultancy or related services. UK resident members are precluded from undertaking business in the UK, ownership of property or shares and the sale of membership interests within the UK.


All members must agree that one member shall become a designated member at any time. Designated members enjoy the same rights and owe the same duties towards the limited liability partnership as any other member. These mutual rights and duties are governed by the limited liability partnership agreement and the general law. 

 

However, there is no tax on offshore profits. Members of the partnership can be non-resident.  

 

 

 

 

 

Aspen Global Incorporations Limited assists in offshore company formation & international business structures; virtual offices, company management, and secretarial services.  Formation and administration of trusts & foundations.  We can assist in the development of efficient international tax planning.  We make banking  referrals; provide accounting & audit services, and more in United Kingdom.

 

 

 

 

 

 

 

Schedule of fees available upon request. 


Contact us today for United Kingdom companies and trusts.  We are located at Suite 2302-3 Pacific Plaza, 410 Des Voeux Road West, Hong Kong.  


Tel: (852) 3175 8758


Fax: (852) 3175 8456 


E-mail: enquiries@aspenoffshore.com


Website: www.aspenoffshore.com