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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