Incorporation in the Northern Ireland
Northern Ireland
A Northern Ireland LP company is a privately owned Limited Partnership with 2 or more persons or corporate bodies being the Partners/Members of the LP. At least one of the Partners in the LP must be nominated as “General Partner (i.e. “Managing Partner”). The Members may be natural persons or corporate bodies from any legal jurisdiction worldwide. Our “Full package” solution includes Full nominee structure (two passive nominee offshore companies).
Such structures makes company:
- non UK tax resident
- Confidential for beneficiary owner
- Totally free of any taxes
- no accounting’s/reports required
Popular applications
- Non-resident trading structure.
- Holding company.
Corporate requirements
- Northern Ireland Limited Partnership (SLP) requires at least one limited partner and at least one general partner (our package includes 2 offshore corporate partners).
- The general partner has unlimited liability, while limited partner’s liability is restricted to its capital contribution and any undrawn profit.
- The general partner is responsible for the management of the partnership.
- SLP Partnerships is formed by written agreement which must be registered at the Register of Companies in Edinburgh.
- The Members may be natural persons or corporate bodies from any legal jurisdiction worldwide.
- Registered office in the N. Ireland is required
Bank account introduction
For the N. Ireland LP that operates outside of the UK, we can recommend opening an account with various banks located in Latvia, Luxembourg, Cyprus or third part payment providers. Please contact us for further details.
Timescales
- Shelf LPs available immediately, registration takes 1 day.
- New LP set-up is offered at same conditions within 8-12 business days.
Accounting requirements
- No obligation to file annual return with the Registrar of Companies
- No obligation to file annual accounts with either Companies Registry or Inland Revenue
- No obligation to file annual tax return with ZERO INCOME basis with Inland Revenue for SLP’s with non-resident Members which have no activities in the United Kingdom
How do I proceed?
In order to commence incorporation and account introduction, we will require the following:
- Confidus Company Form including description of company work & information on beneficial owner.
- Passport copy + utility bill not older than three months of Beneficial Owner and Attorneys in Power.
- 100% of the company formation cost.
Non-resident Trading Structure
- Irish LP can offer EU profile - Supplier and Client can contract white listed entity, rather than offshore company.
- SLP has no tax presence in UK, being deemed tax transparent for UK tax purposes.
- No tax liability on trading profit in Members’ jurisdictions as they are offshore entities
NB! The structure can be suitable for general trading, but not as resident structure where tax relief is required under a tax treaty.
Taxation
The SLP itself is not subject to UK income tax and instead the partners are assessed on their share of the profit. Therefore, in the case where the partners are not UK resident and there is no UK source income, no UK income tax would be payable.
SLP consisting of non-resident members will not be able to obtain a certificate of UK tax residence and it will not be able to benefit under any of the UK’s Double Taxation Agreements.
SLP can be registered for VAT. It is treated in the same way as a UK company for VAT purposes.
POPULAR PACKAGE
Full package Ready-made Company including:
- Hard prints of Incorporation document set with Apostilled corporate document set incl. General Power of Attorney for 1 year
- 2 Nominee non-resident Partners service
- Registered address, Registered Agent Service
- Declaration of Trust & Company seal