Company registration in Scotland (LP) | ||||||
|---|---|---|---|---|---|---|
| Name of service | Package Economy | Package Standard | Package Full | Package Plus | Package Exclusive | |
| Company registration | + | + | + | + | + | |
| Registration certificate | + | + | + | + | + | |
| Registration of directors and shareholders | + | + | + | + | + | |
| Share certificate | + | + | + | + | + | |
| Registered office and agent | .+ | + | + | + | + | |
| Apostille of documents | – | + | + | + | + | |
| Stamp of the company | – | – | + | + | + | |
| Nominee shareholder for 1 year | – | – | + | + | + | |
| Nominee director for 1 year | – | – | + | + | + | |
| Issue of The Power of Attorney to one person | – | – | + | + | + | |
| Account in Rietumu bank | – | – | – | + | + | |
| Personal account in Latvian bank | – | – | – | – | + | |
| Total cost | 565 EUR | 974 EUR | 1153 EUR | 1331 EUR | 1331 EUR | |
| Annual service fee | 565 EUR | 832 EUR | 1010 EUR | 1010 EUR | 1010 EUR | |
Order | Order | Order | Order | Order | ||
General information
Scotland, that now is one of the parts of the UK, has a long history. According to scientists, the first settlements on the territory of modern Scotland appeared about 10 thousand years ago. Modern history begins in 843, when the first king united lands of Scotland. During the history, the kingdom for many centuries was in the process of establishing a modern state, participated in a large number of conflicts as with external enemies, as well as with England. The history of kingdoms unification with the UK has been very difficult, and these events have feedback nowadays. So regularly there are calls for the separation of Scotland from the United Kingdom, and the mountainous region itself has an independent administrative and judicial system.
After the Industrial Revolution, the main focus of Scotland’s economy was put on heavy industry, shipbuilding and coal mining, but, over time, in the middle of 20thcentury, the original structure has changed dramatically in favor of the more technologically advanced areas. The currency of Scotland is the sterling pound, and the region is deeply integrated into the industrial chain of the United Kingdom and the entire European Union. USA and Japanese companies make major investments in the economy of Scotland.
The most common business entities
The most convenient form for registration of the company in Scotland is limited partnership (LP).
Corporate legislation
For historical reasons, legislation of Scotland differs significantly from the English common law and is derived from Roman law. Gradually, there are processes of integration of the legislation, but this process will continue for a very long time. The legal right of a limited partnership (LP) is based on the Law on Limited Liability Companies, dated 1907.
Registered capital
There are no restrictions on minimum size of the registered capital. There are no requirements to the issued and paid up capital.
The main requirements for the directors and shareholders
Minimum number of shareholders is two. One general partner and the second – limited. There are no requirements for citizenship.
Disclosure of beneficial ownership to Government Authorities
Information on the beneficiaries is not disclosed.
Taxation
Partners who are UK-residents pay taxes on income received from the activities of the partnership.
Accountancy
It is necessary to maintain records and annually submit a report to the tax authorities