The UK

There are a number of advantages of a LLP in the UK, some of which are listed below:

• All the members enjoy limited liability.
  
• The liability of the members is limited to the investment in the partnership.
  
• Unlike other companies which must only trade within the objects stated in the M&AA a LLP has unlimited capacity.
  
• An LLP provides a for a more flexible management structure.
  
• An LLP is transparent for tax purposes with members being taxed individually on their share of the limited liability partnerships income or gains.
  

The main requirements of a LLP are as follows:

• Minimum of two members required.
  
• Of the members there must be a minimum of two designated members.
  
• A registered UK office.
  
• Accounting records must be maintained.
  
• Annual accounts and returns must be submitted to the Registrar.
  
• Although not subject to taxation itself, a LLP must file an annual informational tax return.
  
• An LLP must be a commercial venture operating for profit.
  

In order to register an LLP the following documentation is required:

• Certified proof of ID for the members and beneficial owner
  
• Certified proof of address for the members and beneficial owner
  
• Completed Application Form (supplied by Eltoma)
  

Incorporation Timescale:

The formation of an LLP is very quick once the signed LLP2 form is delivered to Companies House. A next day formation service can be offered, subject to receipt of all correct documentation.

The following documents will be received upon incorporation:

• Certificate of Registration
  
• Partnership Agreement
  
• Partnership Combined Register
  
• Minutes of the First Members Meeting
  
• Membership Certificates &Membership Register
  

UK Limited Companies have very few restrictions or requirements which makes them a simple yet flexible solution for many businesses.

The main requirements of a Private Limited Company are as follows:

• A registered office is required.
  
• One Director is required, the Director does not need to reside in the UK.
  
• At least one Director must be an individual.
  
• A Company Secretary is optional however it is advised to appoint a secretary at the registered office so all requirements can be easily fulfilled.
  

There are a number of advantages associated with a Private Limited Company. Some of these are as follows:

• Limitation of Liability: This is the main advantage of a Private Limited Company. The company is a separate corporate body from the individual and liability for payment of the debt stops with the company.
  
• Profit Distribution: Profits made by the company can be distributed to the Shareholders in the form of dividends.
  
• Ownership &Control: Private Limited Companies are flexible in their control and ownership and decisions can be made quickly and easily.
  
• Separate Entity &Succession: Being a separate entity a Private Limited Company can benefit from continued existence and ownership can be easily transferred to another person.
  
• Flexibility of Objectives: Because Private Limited Companies do not have to set the objectives for their business in the Memorandum of Association this leaves companies free to operate in many areas and markets.
  

Documents required for company formation:

In order to register a Private Limited Company the company name must be officially approved by the Registrar of Companies. Once approved the following documents are required:

• Certified proof of ID for directors / shareholders and beneficial owner
  
• Certified proof of address for directors / shareholders and beneficial owner
  
• Completed Application Form(supplied by Eltoma)
  

Incorporation Timescale:

The formation of a Private Limited Company is a very quick process and we can even offer next day incorporation (once all documents are received and approved).

The following documents will be received upon incorporation:

• A Certificate of Registration
  
• Memorandum and Articles of Association
  
• Minutes of the First Meeting of Directors
  
• Share Certificates and Company Register
  

Detailed Service Price List- UK LTD& UK LLP

If you have any questions regarding incorporation in the UK, please contact our specialists: info@eltoma-global.com