Basic information on the offshore in the UK.

UK - the birthplace of offshore business. The foundations of modern offshore systems have been developed and incorporated in the British legal precedents ship at the end of XIX century.
On the territory of the colonial possessions of Great Britain appeared territory that became known as offshore.Offshore in the UK:

Offshore (as a concept also it appeared in Velikobritanii.Ofshor (offshore - can and so and so), translated Sangli. «Offshore» means "beyond the shore", "out of bounds." See full definition offshore.

Britain itself is not offshore, but it has a low-tax areas.

Basic information about the United Kingdom:

    A state in north-west Europe.

Area of ​​the country - 244,111 km2. Consists of the island of Great Britain, which are England, Scotland and Wales, and Northern Ireland, which occupies part of the island of Ireland. Isle of Man and Channel Islands are the Dominions of the United Kingdom, but not part of it.
Population - 60,441,457 people. The average population density is about 241 people per km2. Ethnic groups: English - 81.5%, Scottish, 9.6%, 2.4%, Irish, Welsh, 1.9%, 1.8%, olstertsy, Indians, Pakistanis, Chinese, Arabs, Africans.

•     Currency - the pound sterling.

•     Official language. - English.

•     Capital - London.

The system of taxation in the UK includes the following taxes:

•     Income tax;

•     Corporate tax;

•     Capital gains tax;

•     Written premiums for social insurance, collection of payroll;

•     Inheritance tax;

•     VAT;

•     Stamp duty (a fee charged for the transfer of certain types of assets, including land and shares).

In the UK tax system includes other less important taxes, or are specific to certain types of activities (such as a tax on income from oil production) and duties on goods such as tobacco, alcohol and petrol.

The corporate tax rate is set annually by applicable law. The tax is levied on a progressive scale based on the amount of taxable income from 0% to 30%. The standard rate of 30%. Subject to tax income earned worldwide.

Non-resident companies pay tax at Savka of 22% (in the case of a commercial activity in the UK through a permanent establishment or agency). Levied on profits earned from trading activities or capital gains, which is derived from the activities of a representative office or agency and their property.

Withholding tax:

    dividends - 0%;
    royalties (patents and copyrights to the source of origin of the UK, except for movies) - 22%;
    percentage - 20%.

Britain has more than 100 agreements on avoidance of double taxation with other countries.

LLP.

Resident Company:

Not a resident.

Capital:

There are no requirements for minimum size. Requirements for payment of capital not.

Stock:

Partners have shares in the partnership.

Shareholders (partners):

Minimum 2 partners. Restrictions on residence there. May be individuals or legal entities.

Annual Meeting of Shareholders:

No requirements.

Directors:

Partners are acting on behalf of the company. Minimum 2 designated partners who actually perform functions similar to a director and a secretary in a private company. May be individuals or legal entities. Resident status does not matter.

Registered office:

Mandatory in the UK.

Annual report:

Required.

Maintenance of registers:

Be sure to include inventories: shareholders, directors, secretaries, bonds, mortgages and liabilities. Minutes and records shall be kept at the registered office.

Access to information:

The information contained in the records is in the public domain.

Annual Accounting:

Mandatory.

Audit:

Is not required for small and medium sized companies.

Prohibited activities:

     Activity, do not assume a profit;
     Other, limited by law.

Taxation:

Taxes are levied partners, not partnership.

Advantages:

•      High status of jurisdiction;

•      Stable situation in the country;

•      Status of limited liability such as in the company;

•      Does not require information on the beneficial owners;

•      The use of legal persons as founders and directors;

•      "Flexible" taxation;

•      Lack of statutory audit requirements;

•      Ability to use various tax schemes.

The agreement on the avoidance of double taxation:

The UK has more than 119 agreements on avoidance of double taxation with other countries (including Ukraine).

LTD.

Resident Company:

Resident.

Capital:

There are no requirements for minimum size. Requirements for payment of capital not.

Stock:

Release of the shares of any class. Shares can be bought and sold, but not at public auction, and only among the shareholders or other persons approved by the board of directors. Shares may be issued in any currency. Different classes of shares may be issued in different currencies. Fully paid shares may be converted into certificates (which shows the number of paid shares) to the bearer, which will be freely transferable.

Shareholders:

At least 1. Restrictions on residence there. May be individuals or legal entities. Shareholders may be a director or secretary.

Annual Meeting of Shareholders

Mandatory. Requirements to the venue not.

Directors:

At least 1. May be individuals or legal entities. Resident status does not matter. A legal entity, which is the sole director of the company secretary can not also a director of the company. In the case of violations of the law and the imposition of fines on the company of the shadow director of the director of the company.

Secretary:

At least 1. May be individuals or legal entities. Secretary may be a director, employee, or just someone that has no relation to the company (such as an accountant or a lawyer). A person who is the sole director of the company, can not also be the company secretary. A legal entity, which is the sole director of the company, can not also be the company secretary.

Registered office:

Mandatory in the UK.

Annual report

Required.

Maintenance of registers:

Be sure to include inventories: shareholders, directors, secretaries, bonds, mortgages and liabilities. Minutes and records shall be kept at the registered office.

Access to information:

The information contained in the records is in the public domain.

Annual Accounting

Mandatory filing to the Registry. Mandatory filing consolidated accounts with affiliated companies, including foreign companies.

Audit:

Is not required for small and medium sized companies.

Prohibited activities (unless a special license)

Banking, insurance, authorized financial services, consumer finance, staffing agencies.

Taxation:

Profit for the year 300 000 GBP - 21%;

Profit for the year from 300 001 to 1 500 000 GBP - 29,75%;

profit for the year more than 1.5 million GBP - 28%.

From associates range of corporate tax below.

Advantages:

•      High status of jurisdiction;

•      Stable situation in the country;

•      "Flexible" taxation;

•      The use of legal person as founders and directors;

•      Does not require information on the beneficial owners;

•      Lack of statutory audit requirements;

•      The ability to have the status of "dormant" companies;

•      Ability to use various schemes.