Why non-UK residents form an LLP? Benefits using of an LLP - a limited liability partnership is an alternative way of doing business, a halfway house between a company formation and a limited partnership, it offers a number of benefits. If you're curious and want to know more, contact Coddan LLP startup agent for help. Aimed at global partnerships between teams of lawyers and the like, it has spread to a number of different fields, including property investors, investment funds, not-for-profits companies, overseas clients and dormant partners in all kinds of businesses.
ANNUAL FEES FROM £105.00
This most economical and coincidentally-friendly solution to open a limited liability partnership for international clients. You need to have two members to comply with this option.
We included the following services into this package:
ANNUAL FEES FROM £455.00
We can register an LLP for worldwide clients in just one hour! Everything you need to get LLP started for your overseas business, this offer comes with the registered address and one offshore nominee member.
Everything you see listed in the first LLP creation option, plus:
ANNUAL FEES FROM £805.00
We can start an LLP for non-residents in just one hour! Everything you need to get LLP incorporated for your overseas business, this offer comes with the registered address and two offshore nominee members.
Everything you see listed in the second LLP startup option, plus:
ANNUAL FEES FROM £805.00
One complete year of London registered address, two nominee offshore members and apostilled set of documents, plus free reminders to the annual accounts and returns.
Everything you see listed in the third LLP establishment option, plus:
Non-resident LLP formation in United Kingdom: as another possible way to use an LLP is to have the UK incorporated LLP with offshore members, who are not associated to your main business at all as a part of your current services providers. There are many ways to use an LLP in your business, all you need is to think how and in which particular business needs you can use an LLP for your current business. To clarify your enquiry, or discuss how the establishment of an LLP in Great Britain might help with your situation, please contact us, and we will explain the pros and cons of using a partnership for your current or future needs.
An LLP limits the liability of certain partners to their capital investment, so it carries similar protection to a limited company creation with the tax advantages of a partnership and, therefore, near sole trader status. Using a partnership can help minimise National Insurance Contributions and is an exceptionally tax efficient structure when organised correctly. Overseas clients can find this particularly beneficial as they can conduct all their various business through the LLP company incorporation and then withdraw their profits in an efficient way.
Just two LLP members are required to be held liable for filing accounts and other secretarial duties. These designated members then remain constant, but aside from them others are free to come and go, if you want, we can setting-up an LLP with nominee members. This encourages short-term allegiances on one-off projects and has helped property developers come together to pool resources. An LLP can also borrow against its assets, so a construction company can secure a loan against the development site. All the liability lies with the LLP, rather than the individual members, which is a safety net for all involved. This theory also encourages dormant partners to invest money in businesses, as it limits their risk to the capital they invest.
So there are a number of advantages to an LLP creation. If you need help or advice, contact Coddan for more information and helpful advice.
LLP creation for non-UK customers: if you're a non-resident and want to do business in the UK, an LLP can be an exceptionally tax efficient structure and offers a number of advantages over a traditional limited company. If you want to know more, Coddan can help. We have helped many overseas clients by creating LLPs and advising on how to exploit them. If you want to do business, own property or even borrow money against assets in the UK then withdraw profits in the most tax-efficient way possible, an LLP, or limited liability partnership, is a business structure you need to consider. If you need an assistance with LLP creation, you can also speak to our business advisors between 9.30am-6.00pm Monday to Friday by telephoning + (0) 207.935.5171 or + (0) 330.808.0089 (national rates).
As far as you know, a limited liability partnership is an alternative to a private company and provides much more flexibility as well as limited liability, as the name implies, for certain partners. In truth there are a number of advantages with an LLP, not least is that the LLP is considered a full legal body and is liable for the debts it runs up, as with a limited company, rather than the individual members. Also certain members of the partnership are protected from massive claims arising from the actions of other members of the LLP, which is especially useful in global partnerships.
The limited liability partnership Act came into force in April 2001, and it was aimed at worldwide partnerships like legal practices, or business service providers, where the members in one nation simply could not have full knowledge of the actions of their partners in another country. It has been adopted by a number of other industries en masse, though, as they have seen the benefits of LLP creation and wish to take advantage.
Financial services companies have jumped on the LLP bandwagon, especially with fund management ventures. The LLP's flexibility allows for close or loose management, and accounts for the differing earnings and bonus schemes that can skew various partners' earnings radically.
UK LLP registration has also proved popular with commercial property developers as partnerships can come together on a loose basis to pool resources for a particular investment. With an LLP individual members are free to come and go without the need to restructure the business officially, which allows for casual allegiances to form for short periods without generating huge amounts of paperwork.
An LLP can borrow against its assets a construction partnership could even use a development property in progress to secure a loan without the members being individually liable. As long as two designated members remain constant, the LLP can change its membership, as it needs. The burden of liability for filing accounts and for proper practice lies with the designated members, too, so other members of the LLP are relatively protected. There is not even a legal requirement for an LLP agreement, although Coddan company formations agent still recommends a clear written contract to ensure that a dispute later on can be dealt with effectively.
Non-profit companies, and non-for profit organisations like museums and galleries have found the advantages of an LLP, too; when they want to establish the joint venture with an outside body or private individual. Any profits from this arrangement go to the members who then pay tax, effectively, as sole traders.