Scotland Non-resident Company

Scotland Non-resident Company Formation

Scotland boasts a Western-style open mixed economy closely intertwined with the rest of Europe and the global community. Historically, the Scottish economy has been characterized by heavy industry, with shipbuilding in Glasgow, coal mining, and steel industries serving as its cornerstones. The emergence of petroleum-related industries tied to North Sea oil extraction since the 1970s, particularly in the north-east of Scotland, has further diversified its economic landscape.

As an integral part of the United Kingdom, encompassing the northern third of the island of Great Britain, Scotland has positioned itself as a prominent global business and financial hub, holding significant importance as a jurisdiction for international tax planning.

For those considering business formations in Scotland, opting for a Limited Partnership registration presents distinct advantages compared to other company formation options in the UK. Scottish Limited Partnerships (Scottish LPs) are recognized as legal entities, granting them the ability to hold assets in their own name. Moreover, they offer notable tax benefits that set them apart from structures available in England & Wales, making them an attractive choice for international businesses seeking to establish a Scotland Non-resident Company.

It’s essential to clarify that Scottish Limited Partnerships are not classified as offshore companies, as there is no offshore legislation within the UK.

It’s worth noting that in the UK, all companies, whether they conduct business within the country or beyond its borders, are established under the same legislation.

One of the most compelling aspects of a Scotland Non-resident Company is its favorable tax treatment. Companies that do not derive any income from sources in the UK and have partners who are not UK residents enjoy the advantage of being exempt from taxation, making Scotland a sought-after destination for businesses looking to optimize their tax planning strategies through a Scotland Non-resident Company structure.

If you are interested in a Scotland Bank Account Opening, you can contact us any time.

Advantages of Scotland Non-resident Company Formation:

Leading global business financial center and an important jurisdiction for international tax planning;

Separate legal personality: SLPs have a separate legal personality which means the SLP can own its assets, enter into contracts, own property directly (rather than through the General Partner), borrow money and grant certain types of security.

0% Corporation tax – Corporation tax is only charged on profits derived within the territory of UK or if the partners are UK residents.

The Partners may be corporate bodies or natural persons from any legal jurisdiction worldwide;

There is no minimum authorized or issued share capital requirement;

There is no withholding tax on interest, dividends and royalty, no capital gains tax in UK;

Interim dividends distribution is allowed. Distribution to foreign entities or individuals are not taxed in UK;

Nominee services are available;

The partners are only responsible for the amount they contribute to the business;

Board Meetings can be held anywhere in the world.

If you are interested in Scotland Non-Resident Company Formation, you can contact us any time.

Summary of Scotland Non-resident Company Formation and main characteristics:

General Information

General Information
Type of company	Partnership
Corporate Legislation	Limited Partnership Act 1907
Taxation	For Non-resident sourced activities - Corporation Tax – 0% Tax on Dividends – 0% Territorial taxation system 0% for non-residents that do not derive any income from sources in UK.
Currency	Standard Currency - Pound sterling - GBP£ Share Capital can be in GBP or EUR
Paid up capital requirement	No paid up capital required (1 GBP£)
Time zone	GMT (UTC)
Directors (Partners – General Partner)
Minimum no. required	1
Local Partner required	No
Location of Meetings	Anywhere
Shareholders (Partners – Limited Partner)
Minimum no. required	1
Location of Meetings	Anywhere
Company Secretary
Required	No
Local Secretary required	No
Registered office required	Yes
Share Capital
Standard Currency	GBP£
Standard Authorized Capital	100 GBP£
Minimum paid up capital	No (1 GBP£)
Accounting Requirements
Preparation of accounts	Required (can be completed by Consil Formation)
Requirement for audit	No
Accounts public accessible	No
Requirement to file Annual Return	Yes (can be completed by Consil Formation)
Further Information
Bearer shares	No
Confidentiality	Yes
Nominee services	Available
Need to travel	No
Apostille	Yes, Hague Convention 1961
Owners	Individuals or Corporate

Register your Scotland Non-resident Company

Scotland Non-resident Company Formation – with all services included for the first year: € 2000;

Certificate of Registration;

Pre-Incorporation Agreement;

Mutual Partnership Agreement and General Operating Provisions;

Appointment of Partners, Distribution of Shares, Minutes, Resolutions in accordance with banks requirements;

Share Certificate(s);

Authorized Share Capital of GBP100;

Local Registered Office Address;

Registered Agent;

Preparation & Filing of Annual Return;

Personal manager assistance for the entire period.

Renewal Fee after one year – with all services included for the next year: € 1400

Local Registered Office Address;

Registered Agent;

Preparation & Filing of Annual Return;

Personal manager assistance for the entire period.

Nominee General Partner – Individual or Corporate as per client’s request: € 800

Nominee Limited Partner – Individual or Corporate as per client’s request: € 800

Power of Attorney – General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements: € 500

Certificate of Good Standing with Apostille, in accordance with official institutions and banks requirements: € 450

Certificate of Incumbency with Apostille, in accordance with official institutions and banks requirements: € 450

Legalization of Documents:

Document Notarization per document: € 500
Bundle of documents Notarization;
Document Apostillation per document;
Bundle of documents Apostillation.

Company Seal: € 100

Company Rubber Stamp: € 150

Bank Account opening service – Quotation based on each particular case;

Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review: € 75/hour

Accounting & Bookkeeping – Quotation based on each particular case.

Starting fee:

€2,000.00

Further optional services

Nominee Director: €850.00
Individual or Corporate as per client’s request

Nominee Shareholder: €650.00
Individual or Corporate as per client’s request

Power of Attorney: €450.00
General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements

Certificate of Good Standing with Apostille: €450.00
In accordance with official institutions and banks requirements

Certificate of Incumbency with Apostille: €400.00
In accordance with official institutions and banks requirements

Document Notarization per document: €500.00

Company Seal: €100.00

Company Rubber Stamp: €150.00

Options Amount: €0.00
Final Total: €2,000.00