What is an LLP?
A Limited Liability Partnership,
LLP, is a type of business entity. It is
taxed like a partnership (with fewer taxes
compared to a company) and has the benefit
of limited liability like a company. This
means that the benefits of a company and
a partnership are combined in the Limited
Liability Partnership (LLP).
What
are the requirements to form a UK LLP?
There
are two basic requirements to form a UK
LLP:
- A registered address
in the UK (i.e. England, Scotland or
Wales)
- Minimum two partners
required (can be two people or two companies)
Can
you help me form a UK LLP?
We can certainly
assist you in forming an LLP in the UK.
This service costs £150 GBP and it
takes approx 10-14 working days to complete
the LLP formation process.
The
two basic requirements to form a UK LLP
are:
- A registered address
in the UK (i.e. England, Scotland or
Wales)
- Minimum two partners
required (can be two people or two companies)
What
do you charge to form a UK LLP?
We charge
a fee of£150 GBP to form a UK LLP
and it takes about 10-14 working days to
complete the LLP formation process.
Do
I get the Original Certificate of Incorporation?
Yes, you
do get the original Certificate of Incorporation
and The Partnership Agreement after your
LLP is formed. Both these documents are
mailed to your given address.
How
do I place an order for a UK LLP?
To
order a UK LLP, follow these steps:
1. Log
on to www.formationshouse.com
2. Click the UK LLP Formation link
3. Click the Order Here button
4. Enter the proposed name of your LLP
5. Click the Search button
6. Select any additional services if desired
7. Click Next step button
8. Review your shopping cart and click
Next step button
If you are a new customer continue
with the following steps:
9. Click the New Customer button
10. Fill out the registration form and
click Register button
11. Review your registration details and
click Next step button
12. Fill out the company details form
and click the Proceed button
13. Enter member details and click Add
button
14. Enter member details (for the second
member) and click Add button
15. After adding all members (at least
2 members are required), click the Proceed
button
16. Enter payment details and click the
Check Out button
If you are an existing
customer continue with the following steps:
9. Enter login details and
click Log In button
10. Fill out the company details form
and click the Proceed button
11. Enter member details and click Add
button.
12. Enter member details (for the second
member) and click Add button
13. After adding all members, click the
Proceed button (at bottom of the page)
14. Enter payment details and click the
Check Out button
Once we receive your payment,
your LLP will be formed within 10-14 working
days
What
are the similarities between a limited company
(limited by shares) and an LLP?
The
LLP resembles the limited company in two
basic ways:
- It is a corporate
body with separate legal entity
- The liability of
its members is limited to their contributions
only
What
are the differences between a limited company
(limited by shares) and an LLP?
An
LLP differs from a limited company in the
following ways:
- For a company you
need at least 1 director and 1 secretary,
however no such officers exist in an
LLP. Instead LLP is based on at least
2 partners.
- A limited company
is required to pay Corporate Tax, while
an LLP is exempted from paying Corporate
Tax (unless the LLP choses to do so
itself).
- At least 1 share
needs to be issued to 1 shareholder
in a company, while there is no concept
of shares involved in an LLP.
Why
do I need an LLP Registration instead of
a limited company?
Tax benefit
is the major advantage of forming an LLP.
This is because the partners of an LLP pay
tax on their individual incomes only and
there is no Corporate Tax applied on an
LLP. On the other hand, the company shareholders
pay tax on their individual incomes as well
as Corporate Tax from the company’s
income.
Please note
that we only act as a formation agent for
your LLP, and do not provide consultancy
in this regard. To choose the appropriate
business structure, you should consult a
solicitor or a business consultant.
What
is the better choice for me to form: an
LLP or a limited company?
We only
act as a formation agent and do not provide
consultancy in this regard. To choose the
appropriate business structure, you should
consult a solicitor or a business consultant.
Can
you help me form an LLP in the BVI?
Sorry, we
currently do not offer LLP Formation service
in the BVI.
Can
you help me form an LLP in the Seychelles?
Sorry, we
currently do not offer LLP Formation service
in the Seychelles.
Can
you help me form an LLP in any offshore
jurisdiction?
Sorry we
currently do not offer LLP Formation service
in any offshore jurisdiction. However we
do offer LLP Formation service in the UK.
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