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Northern Ireland (UK) – Limited Partnership
  • Northern Ireland 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 registration forms (form LP 5) with the Registrar of Companies of Northern Ireland.
  • A Northern Ireland 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, a Northern Ireland 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 - 14,130 sq km
Population - 1,800,000
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/OfficersNorthern Ireland L.P. companies require a minimum of 2 Partners, who may be natural persons or corporate bodies from any legal jurisdiction.
Each Northern Ireland L.P. company must file information on its Partners with the Register of Enterprises of Northern Ireland.
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 a Northern Ireland 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 Northern Ireland 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 Northern Ireland 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 13 "Ready-made" companies available in this jurisdiction
Price of Northern Ireland L.P. companyEUR 1,450, 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: -
  • A Northern Ireland L.P. is an ideal solution for those who prefer to operate a company registered in prestigious European country and to have a tax-free corporate instrument at the same time.
  • A Northern Ireland L.P has no significant differences to an English LLP. However, Northern Ireland L.P. provides an opportunity to have a type of company that is used less frequently.
  • In the UK preparing of financial statements is mandatory for every type of company. This requirement is not eliminated by the fact that technically the Northern Ireland L.P. does not file the financial statements with Companies House. In addition, the filing of appropriate partnership tax returns is closely monitored by the UK tax office - HMRC (Her Majesty Revenue & Customs). Penalties are imposed for violation of reporting regulations, and in some cases even criminal liability is considered.