SCOTLAND LP FORMATION

An LP is a partnership between at least one general partner, who has unlimited liability for the debts and obligations of the LP, and one or more limited partners who contribute capital to the LP (either by contributing cash or property).

Limited liability
One of the main advantages of LPs is that, provided they do not take part in the management of the LP, the liability of each of the limited partners is capped at the amount of its contribution to the LP, which means that limited partners benefit from the same limited liability status as shareholders in a limited company.

Tax transparency
LPs are broadly transparent for UK direct tax purposes and are not treated as separate taxable entities by HMRC.  UK tax residents who are partners in LPs are directly assessed to tax on their share of the income or gains of the LP and therefore are not subject to multiple layers of UK taxation. 

Partners who are not UK resident or ordinarily resident will only pay UK tax on UK source income, including their share of profits arising in the UK if the partnership carries on a trade in the UK.
There are no requirement for filing the accounts.
Nominee service is allowed.

Name restrictions
The following words are restricted and require additional checking in the UK:
Abortion, Anzac, Architect, Association, Assurance, Assurer, Authority, Benevolent, Board, British, Building Society, Chamber(s) of Business, Chamber(s) of Commerce and Industry, Chamber(s) of Commerce, Chamber(s) of Commerce, Chamber(s) of Enterprise, Chamber(s) of Industry, Chamber(s) of Trade and Industry, Chamber(s) of Trade, Chamber(s) of Training and Enterprise, Chamber(s) of Training, Charitable, Charity, Charter, Chartered, Chemist, Chemistry, Chiropodist, Contact Lens, Co-operative, Council, Credit Union, Dental Practitioner, Dental Surgeon, Dental, Dentist, Dentistry, Dietician, Dispensing Optician, District Nurse, Druggist, Duke, England, English, Enrolled Optician, European, Federation, Foundation, Friendly society, Fund, Geneva Cross, Great Britain, Group, Health Centre, Health Service, Health Visitor, Her Majesty, His Majesty, Holding, Industrial & provident society, Institute, Institute of Laryngology, Institute of Orthopaedics, Institute of Otology, Institute of Urology, Institution, Insurance, Insurer, International, Ireland, Irish, King, Medical Laboratory, Midwife, Midwifery, National, Nurse, Nursing, Occupational Therapist, Olympiad, Olympiads, Olympian, Olympians, Olympic, Olympics, Ophthalmic Optician, Optometrist,,Orthoptist, Patent, Patent Agent, Patent Office, Patentee, Pharmaceutical, Pharmaceutist, Pharmacist, Pharmacy, Physiotherapist, Police, Polytechnic, Post office, Pregnancy, Prince, Princess, Queen, Radiographer, Reassurance, Re-assurer, Red Crescent, Red Cross, Red Lion and Sun, Register, Registered, Registered Optician, Re-insurance, Re-insurer, Remedial Gymnast, Royale, Royalty, Scotland, Scottish, Sheffield, Society, Solicitor (Scotland), Special School, Stock exchange, Technician, Termination, Trade union, Training and Enterprise, Trust, United Kingdom, University, Vet, Veterinary Surgeon, Veterinary, Wales, Welsh, Windsor.

For company opening please provide the following:
1. Name suggestion (2-3)
2. Passport copy (both for General Partner and Limited partner) – please send the original
3. Utillity bill (both for General Partner and Limited partner) – please send the original

PRICE LIST

Incorporation
Company formation 350 EUR/one time
Registered office 300 EUR/annualy
Certification (Registered certificate+Partnership Agreement) 500 EUR
or
Certification (Registered certificate) 300 EUR
DHL 125 EUR

Annualy
Registered office 300 EUR

Optional
Nominee service (EU based) 2000 EUR/annualy *
Nominee service (Non-EU based) 1500 EUR/annualy *
* Nominee service include one General Partner and one Limited Partner

Bank account opening 750-1250 EUR
POA (Power of Attorney) – certified & apostilled 350 EUR