Frequently Asked Questions about company formation in Scotland
What are the advantages of Scottish LP?
- A Scottish LP can own property
- Excellent reputation
- International recognized and respected jurisdiction
- A perfect vehicle for investment structures dealing with multiple individuals
- No corporate or income tax
- Apart of the European Union
- Apart of the United Kingdom
- Beneficial ownership information is not required to be sent to the Register
- No financial audit is required
- No need to submit financial accounts
- Only two partners are required
- Flexible fund structure
- Tax transparency
- An LP is a separate corporate entity
What is the minimum share capital in Scotland?
There is a minimum required capital of GBP 2 with a usual authorized amount of GBP 1000.
Is it necessary to visit Scotland to set up a company?
No, the company formation process can be done remotely.
Does the company need to have an office in Scotland?
It is not mandatory to have a physical office within the country but it is mandatory to have a registered business address.
What are the taxes for companies in Scotland?
There is 0% corporate tax to be paid, providing that the partnership does not trade in the UK and partners are not residents of the UK.
How fast can you start a new business in Scotland?
If all the documents are in order the company incorporation process will take approximately 3 working days.