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England (UK) – Limited Partnership
  • England is a part of the United Kingdom, a leading global financial and business centre and an important jurisdiction for international tax planning. The UK is known internationally as a jurisdiction with a standard level of taxation. However, the UK law provides the opportunity for registration and operation of companies with a zero tax rate - Limited Partnerships (L.P.).
  • An L.P. is a partnership of at least two members that is formed by filing of registration forms (form LP 5) with the Registrar of Companies of England and Wales.
  • An England L.P. with foreign members, which does not carry on a business in the UK and derives no income on UK territory, is not liable to tax in the UK. According to the tax laws of Great Britain, the L.P. is not considered as a separate subject of taxation. The founders ("Partners") should pay taxes from the profits received by the L.P. company in their place of residence in proportions according to their share of interests belonging to them in the L.P.
  • As an example, an England L.P. which has as partners one Belize company and one BVI company, which receives the income only outside Great Britain, will not be assessed to tax. Taxes will be paid by the partners in their country of residence if it is stipulated by the legislation of that particular country.
  • The favourable tax regime of L.P. companies does not eliminate the requirements for preparing Financial Statements. Every L.P. must prepare and keep financial statements, and the relevant Partnership Tax return must be filed annually with HMRC (Her Majesty Revenue & Customs).

GENERAL INFORMATIONTotal area - 130,279 sq km
Population - 53,100,000
Location - click here to see the map of offshore jurisdictions
Political status - part of the Great Britain
Capital - London
Official language - English
Official currency - British Pound (GBP)
Time zone - GMT -/+ 0
Company typeLimited Partnership (L.P.)
Directors/OfficersEngland L.P. companies require a minimum of 2 Partners, who may be natural persons or corporate bodies from any legal jurisdiction.
Each England L.P. company must file information on its Partners with the Register of Enterprises (Companies House) of England and Wales.
ShareholdersThe capital of the partnership is divided between its Partners.
SecretaryThere is no statutory requirement for a Company Secretary to be appointed.
Authorised share capital Standard authorised capital = GBP 2,000.
Company Names The name of an England L.P. must end with the words Limited Partnership or the suffix "L.P.".
The names containing restricted words such as "Bank", "Insurance", "Trust", "Assurance", "Building Society", "England", "British", "European", "Irish", "National", etc. will not be permitted unless an appropriate national operating licence or special permit has been obtained by the company. Also the words "International", "Holding", "Group" are subject to individual acceptance by Companies House.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the partnership and is held by the agent on a confidential basis.
Filing of Annual ReturnThere is no requirement to file an Annual Return.
Filing of Financial StatementsEvery England L.P. must keep appropriate accounting records, and prepare a Financial Statements annually. Relevant Tax Declaration (form SA 800) must be submitted to Her Majesty Revenue & Customs annually.
Corporate TaxationLimited Partnerships that do not carry on any commercial operations in UK; do not derive any income from UK sources, and are managed and controlled by Members who are not UK residents, are exempt from U.K. corporate tax.
Tax TreatiesLimited Partnerships that do not carry on any commercial operations in UK; do not derive any income from UK sources, and are managed and controlled by Members who are not UK residents, are not regarded as resident for tax purposes in UK, and therefore are not entitled to take advantage of international Double Tax treaties concluded by the UK with other countries.
Timeframe for incorporation 10/12 working days. A complete set of company documents can be delivered in 5/6 weeks.
Takeover of management & secretarial services for an existing England L.P. companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in UK.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesToday we have 43 "Ready-made" companies available in this jurisdiction
Price of England L.P. companyEUR 1,430, including formation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 1,100 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
Also, there are additional payments for preparation of financial statement, depending on complicity of the statement.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • An English LLP is the ideal solution for those who prefer to operate with an EU-incorporated entity but to have at their disposal a fully tax-exempt vehicle at the same time.
  • Given the above-stated advantages, English LLP companies are very popular tools for conducting international business.
  • In the UK there are certain obligations, including submitting of financial statements, which must be fulfilled by every type of company including a LLP. For late delivery of financial statements, Companies House imposes considerable penalties, and criminal liability is considered under the law.
  • The favourable tax regime of a LLP is based on its “pass-through” status in that all profit received by the LLP is considered to be transferred to its members. Accordingly, if the members are resident in a taxpaying jurisdiction, they will be obliged to pay tax in their country of residence proportionally to their share of participation in the LLP company.