Scotland

COMPANY FORMATION IN SCOTLAND

Scottish Limited Partnerships (LP) company formation

A Scots LP company is a privately owned Limited Partnership with 2 or more persons or corporate bodies being the Partners/Members of the LP. At least one of the Partners in the LP must be nominated as “General Partner (i.e. “Managing Partner”). The Members may be natural persons or corporate bodies from any legal jurisdiction worldwide. 

TAXATION OF SCOTTISH LP COMPANIES

LP companies in Scotland with Members outside the UK and no business activities in the UK are not regarded as UK-taxable entities unless they elect to be so regarded. According to general UK tax procedures, the income of the Scotland LP company is treated as being the income of its  Members, and therefore taxable in the Member’s countries of residence (usually the jurisdiction of incorporation, in the case of corporate Members),  in the respective proportions to which the Members will benefit from the company income. 

We recommend that in order to establish a clear position of Non-Residence for corporate taxation purposes, that the Members of a “Non-Resident  Scottland SLP company" should be companies from tax-effective jurisdictions outside the European Community.

REQUIREMENTS FOR COMPANY FORMATION IN SCOTLAND

• Minimum two partners in Scotland company (our package includes 2 offshore corporate partners)
• Registered company office in Scotland
• Company must file annual return with the Registrar of Companies in Scotland
• No obligation to file company annual accounts with either Companies Registry or Inland Revenue
• Company may file ZERO annual tax return with Inland Revenue for Scotland LP’s with non-resident Members which have no activities in the United Kingdom

SCOTLAND COMPANY FORMATION FEES 

TIME FRAME FOR COMPANY FORMATION IN SCOTLAND

• 12 – 15 business days for company formation in Scotland (allow 3 – 5 days for courier)
• Although look at the available ready made off the shelf Scotland companies

BANKING FACILITIES FOR SCOTTISH LP COMPANIES

For the Scottish LP company that operates outside of the UK, we can recommend opening an account with various banks located in Latvia, Estonia, Denmark or Cyprus. Please contact us for further details on bank accounts for companies registered in Scotland.

OFFICE OPTIONS FOR COMPANIES IN SCOTLAND

• Virtual office for companies registered in Scotland (includes telephone, fax and mail forwarding facilities): £100 per month payable quarterly in advance plus £300 deposit refundable within 30 days upon termination of your company office contract.
• Serviced office for Scottish company: cost as per requirement. Please contact us for more information on serviced office fees for companies registered in Scotland.

ACCOUNTING SERVICES FOR COMPANIES REGISTERED IN SCOTLAND

• Basic accountancy fee start from £650 per year based upon approximate number of monthly invoices and projected annual turnover of company registered in Scotland. Fees for larger companies may vary. Please contac us for accounting service fees for in Scotland registered companies.

HOW TO REGISTER A COMPANY IN SCOTLAND?

To open a Scottish company, we will require the following:

• 100% of the company in Scotland formation cost 
• A completed Scottish company registration application form
• A copy of each Scottish company's director/shareholders/beneficial owners’ passport
• A utility bill copy that is less than three months old showing residential address

Please send your documentation for company formation in Scotland  to:

SIA IBC Konsultants
Antonijas St. 22-4, LV-1010

Riga, Latvia
Fax: +371 67333957
Email: info@eurocompanyregistration.com
Skype: Contact_IBC

Printable version