This structure is a limited partnership with a limited company as its general partner, and it is a tax-transparent partnership. No tax in the UK as long as there is no UK income and there are no UK partners.
Key advantages
- Top reputation. The UK is one of the most important financial centres in the world.
- No withholding tax on outgoing profits. Ideal if you live in a low-tax country.
- No tax in the UK as long as there is no UK income (for example UK rental income) and there are no UK partners.
- The UK has double taxation agreements with more than 100 countries, which reduce the tax on income the partnership receives.
- Partners' rights and the profit split are set flexibly in a partnership agreement, which is not public.
Services included in the fee
- Formation of the partnership in Edinburgh
- Formation of the general partner Limited in Edinburgh
- Drafting of the articles, minutes and partners' resolutions
- Prestigious registered office in Edinburgh for 12 months
- Mail forwarding by scan and email for 12 months
- Tax registration of the companies and of up to 5 limited partners
- Partnership agreement drafted by a lawyer
- Support with transferring existing assets to the partnership
- Ongoing personal support from our team
- Basic compliance, including filing the annual confirmation statement of the general partner Limited
Formation facts
- No notary appointment
- No visit in person
- At least 1 director (residence and nationality do not matter; identity verification at Companies House)
- Minimum capital £1 per limited partner
- Formation time: 2 to 4 weeks
Discretion
None. The UK has a very open companies register in which every partner must be published. The register of persons with significant control is also very easy to access. Put simply, it shows every beneficial owner who holds more than 25% of the profits, directly or indirectly. Beneficial owners who hold no more than 25% of the profits, and only indirectly (for example through a holding company), do not have to appear in that register.
Opening a bank account
Opening a bank account is not included in the fee. We recommend that you open a business account for your partnership yourself with one of the usual online banks. For an additional fee, we can support you with opening an account outside the EU at one of the top 5 UK banks, which can open accounts for UK and US companies and for companies from many other countries. Accounts in many currencies are possible. If you need this service, please order it separately when you instruct us.
Tax support
Ongoing tax support for the partnership is charged according to time spent.
Costs after the first year
The annual cost of managing the partnership after the first year is £3,200 plus tax support.
Process and next steps
01, Onboarding and KYC: Once you instruct us, you receive our onboarding questionnaire and the KYC documents. We analyse your financial situation.
02, Formation and partnership agreement: Formation of the FLP and the general partner Limited in Edinburgh in 2 to 4 weeks. A lawyer drafts your individual partnership agreement.
03, Handover and support: Full handover of all documents. Ongoing personal support and help with transferring your assets.
Suitable for
- European clients with international assets
- People who prefer British law
- Business owners with liability risks
- Investors looking for a single legal entity