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