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Reasons to incorporate a limited partnership in Scotland: a limited partnership incorporation in Scotland offers different benefits to businesses than other company structures. Among them are that they can hold assets in their own name, and there are significant tax advantages that set them apart from limited partnerships in England and Wales.
If you are considering incorporating a limited partnership in Scotland, the first thing you need to be aware of is that the process is different to elsewhere in the UK, as Scotland has its own partnership laws.
It is therefore hugely beneficial to get the expertise of an experienced business formation agent in handling your limited partnership incorporation. At Coddan, our expert consultants can advise you at the outset of registering a limited partnership in Scotland, right the way through to completion.
We have a range of limited partnership incorporation packages to suit all circumstances, starting from only £92.00 and with no extra or hidden charges. A business address in Scotland is required in registering a limited partnership, but if you don't have one, because you're either not living in Scotland or are a foreigner, we can provide one for you.
The official office address we provide for limited partnership incorporation purposes is where Companies House deems you engage in your business, and all official correspondence from the authorities will be sent there, and we can forward it on to you.
A limited partnership in Scotland is registered at Companies House in Edinburgh, and is basically a structure where there's a general partner or partners as well as one limited partner at least. The limited partner or partners will add capital to the enterprise, or property.
The general partners in the business are then responsible for the entirety of its obligations, and any debts that might occur during its trading life. However, the limited partners are only responsible for what they put into the business, but they are not allowed to run or control the business, nor are they permitted to take out what they have contributed to it.