Scotland was once an independent country and had its own monarch, but is now part of a county comprising England, Wales and Northern Ireland, which is called the United Kingdom. In 1707, the parliament of Scotland joined the parliament of England to become the Parliament of Great Britain.
You may be wondering, what are the best places and countries to open a new company, where the state itself will facilitate the business activity but not create a string of problems?
Well, an offshore LP company in Scotland is a relatively new tool for businesses, that has recently become very popular. Offshore companies in Scotland provide a unique status to your European business, making your profits fully exempted from taxes. The Scottish Parliament has adopted a unique form of limited liability partnership – the so-called Scottish limited partnership, SLP.
The UK is internationally known as a jurisdiction with a standard level of taxation; hence it has no image of a ‘tax haven’. At the same time, the UK law provides for the possibility to incorporate and use companies with zero tax rate - LP (Limited Partnership).
There are 2 main tax exemption conditions in relation to Scottish companies:
- 2 and more Great Britain nonresident participants
- no real activity on the territory of Great Britain
- no income from residents of Great Britain
The main advantages of a Scottish LP:
- SLP is not obliged to submit financial reports to the register unlike the English LP
- Financially sound and reputable country
- 0% taxes on company profits
- Minimum capital, which must be paid on incorporation – only 2 GBP
- Not required to pass audit
- No additional costs of bookkeeping
We believe a true entrepreneur knows better how to invest his profit. That's why we keep our clients updated with the coolest new locations.
Stay tuned for new awesome places to start your business in Scotland!
