LLP with a bank account starting from 2350 USD
An alternative to the traditional private limited company is the Limited Liability Partnership.
Limited Liability partnerships can have physical persons and other companies as its members. All members have limited liability cover, which means that if creditors pursue the LLP, then the members' liability is limited to the amount of capital contributed to the LLP.
If all the members of a UK LLP are non-UK residents, then that LLP is considered non-UK resident for tax purposes.
LLPs don't have any constitution of Memorandum and Articles to govern the way they work. Still, they have Partnership Agreements which control all matters relating to the operation of the LLP and the relationship between the members.
As a business vehicle, they are very flexible because one can vary the partnership share of profits for each member which is more complicated to achieve using a Limited Liability company. For this reason, LLPs are very useful for joint ventures.
Apart from the above requirements, all partnerships have also to file annual accounts and tax return to the Tax Authorities and annual returns to Companies House.
- If members of the LLP are non-UK residents, then LLP is considered non-resident for tax purposes.
- The members have limited liability.
- Accounts are exempt from being audited if the company is considered "small."
- The LLP’s name is protected – two LLP's/Companies cannot have the same name.
- All partners have limited liability protection against company obligations and debt.
- All partners can make managerial decisions.
- No requirements of authorized capital.
- Each partner must pay self-employment taxes on his/her share of the companies profits and losses.
- LLPs are required to provide financial information equivalent to that of companies, including the filing of annual accounts. An LLP must provide annual information on the members and the registered office address.
- Information such as names, addresses and dates of birth of members would fall into the exemption of the Data Protection Act because the Companies Act requires the Registrar to maintain this information and provide it via the public register.
Our experts offer clients a unique discounted package as follows:
- A fully registered LLP with all documents
- Bank account
Total : $USD
3800 $USD 3425
Documents you will receive are:
- Notary Certificate
- Certificate of Incorporation
- Partnership Agreement
- First minutes of Meeting
- Ownership Certificates
- Apostilled set of copies of the corporate documents for bank account opening
- Courier delivery of copies to the bank and originals to you
After the registration is completed, we will work with several banks to get pre-approval for your corporate bank account. The choice of the bank depends on the needs and activity of your future company, so we will get a professional consultation from a banking specialist of our company to choose the most suitable option.
Documents required to open UK LLP:
- Proof of ID (international passport) - certified copy;
- Proof of residential address (UB not older than 3month) - certified copy;
- Bank reference letter /bank statement
- Professional reference
- Completed and signed KYC1 form and order form (drafts will be provided in due course).
- Documents must be translated into English.
- Documents must be provided in good quality scans for review.
- In case any of the above-mentioned documents cannot be provided, we are always open to alternative documents.
The LLP company will be established during around one week after all requested documents are provided and payment is received.
Apostille takes additional five business days.
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