BENEFITS OF REGISTRATION :
LTD (A Private company limited by shares)
- The high international prestige of Great Britain as a member of the EU
- Ability to use the company as a nominal holding, non-resident company of Great Britain
- No foreign exchange control
LLP (The Limited liability partnership)
- The high international prestige of Great Britain as a member of the EU
- No requirements on the registration of a working agreement of partners, which regulates the internal affairs of the company, distribution of profits among partners.
- Limited liability of partners.
- Only the final annual report (no monthly accounting reports).
- VAT records – once in three months.
- No foreign exchange control.
Applicable Law
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The Companies Act 1985 (as amended)
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The Income and Corporation Taxes Act 1988
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Limited Liability Partnership Act 2000
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Limited Liability Partnerships Regulations 2001
Requirements for companies
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The name can not be identical (similar) is already registered names.
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The name should end with `Limited`, `Ltd` or `LLP`.
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The words `Insurance`, `Bank`, `Chamber of Commerce`, `Cooperative`, `Credit Union`, `Group`, `Holding`, `Building Society`, `Royal` and others may be used only after permission approval by the appropriate state Body
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LLP Founders – should be formed by at least two partners (parties), but there exist only one, then – for a period of not more than 6 months, individuals or legal entities, residents of any country in the world
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Articles of Association/ Memorandum LLP, LTD – mandatory
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Minimum Capital LLP, LTD – there is no requirement on the minimum amount of capital and payment of shares
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LTD – only registered shares with a nominal value of
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Shareholders (LTD) – enterprises or individuals anywhere in the world, the minimum quantity – one
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Director (LTD, LLP) – legal or natural persons of any country in the world (minimum – one director)
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Registered legal address (LLP, LTD) – mandatory
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Resident Agent (LLP) – mandatory, (LTD) – is not necessarily
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Secretary (LTD) – legal or natural person of any country in the world; LLP – not necessarily
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Taxation -the tax rate on companies profits in 2009. (The rates are taken from the site of the UK state bodies of the Tax – HM Revenue & Customs (HMRC) http://www.hmrc.gov.uk/rates/corp.htm)
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If the company is not resident in the UK, it does not pay tax on dividends received, capital gains tax on profits derived from activities outside the UK.
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Annual Meeting of Shareholders LLP – no requirements; LTD – Required
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Disclosure of information publicly LLP, LTD – is not disclosed, there is complete confidentiality;
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Accounting LLP, LTD – is required
Treaty on avoidance of double taxation nearly 100 countries -
LTD is subject to double taxation treaties.
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LLP is not subject to double taxation treaties
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Possibility to purchase shelf company – law allows
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Possibility to use nominee services – nominee shareholders and directors
DOCUMENTS REQUIRED FOR REGISTRATION
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The person who is granted power of attorney, a copy of his passport
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A copy of the passport or the constituent documents of directors (if the director is not rated)
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A copy of the passport or the constituent documents of the shareholder (if the shareholder is not rated)
In price for company included:
- Incorporation Fees
- Certificate of registration
- Memorandum and Articles of Association
- Share certificate
- Minutes of first meeting of Directors
- Register of Members
- Register of directors
- Resolution of director in writing
- Letter of resignation
- Share certificate
- Declaration of Trust
- Agreement for the provision of nominee services
- Apostle for all documents
- Delivery of documents to Ukraine
- Stamp
