Foreign residents can take benefits from setting-up an LLP; the limited company formation is the well-established path for a new firm and it can be very effective, but it isn't always the best option. The limited liability partnership has found favour in recent years and offers a number of advantages. An LLP is governed by a combination of company and partnership law, which effectively protects the private property of the directors, but allows them to enjoy the same tax breaks as a simple partnership.
If you're a foreign resident and do business in the UK, you could streamline your affairs and save yourself serious tax contributions by incorporating a limited liability partnership with Coddan Ltd. We can incorporate your LLP efficiently and painlessly, making sure it complies with all the UK regulations, and can provide other essential services, too, such as a registered address and SAIL inspection address point for your records, as well as a open business bank account.
An LLP has become an increasingly common alternative to the traditional limited company and it offers a number of advantages. It can be used to reduce national insurance contributions even for UK citizens, but foreign residents can benefit even more.
Foreign residents, who may wish to bring all their business affairs together in one place and then withdraw profits to a tax haven such as Belize or Isle of Man. This would be a tax efficient way to withdraw profits and is completely legal.