Partnership with partners – Offshore company in Scotland
An offshore company Scotland LP is a relatively new tool for businesses that has recently become very popular. Offshore company in Scotland provides a unique status to your European business and your profits get fully exempted from taxes. The Scottish Parliament, forming its own legal system, has passed the law of 1907 adopting a unique form of a limited liability partnership – the so-called Scottish limited partnership, SLP.
Scotland limited partnership is a legal entity, but as an integral structure it is not regarded as an independent taxpayer. A company divides the profit between the partners in pre-agreed shares, and each of them pays taxes separately. This LP is similar to the typical British form of standard LLP, but actually has a number of lucrative benefits for taxpayers.
Scotland is actually a part of the UK but in fact is not an offshore. This is an onshore territory, combining the advantages of UK tax and benefits – such as an opportunity not to submit reports when a company is properly structured. A properly structured company combined with tax minimisation schemes can reduce your taxes to zero. Partnership with partners who are not residents allows not to pay taxes at all. On May 1, 2012 Scotland received more tax independence from Britain.
Since SLP is a legal entity it can hold a variety of assets, attract new investors as limited partners, own property, enter into contracts and borrow.
Offshore company Scotland LP has several advantages:
- SLP is not obliged to submit financial reports to the register unlike the English LLP
- Not required to pass audit
- No additional costs of bookkeeping
- Zero tax
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If you wish to register an offshore company in Scotland our team will be happy to help you there and provide you with more detailed information, you can contact us at [email protected]
Offshore company Scotland
Related page: Scotland company formation
