No matter where a company is based in the world, they will always be responsible for paying tax. However, while tax evasion is a crime, tax avoidance is perfectly legal, and good tax planning can lead to a significant reduction in the amount required to pay. While there are many ways of going about this (for example, by taking advantage of tax deduction), we will concentrate here on offshore tax opportunities. This is not only an incredibly attractive option,it is also available to citizens of any nationality through a Limited Liability Partnership, a form of British company commonly abbreviated to LLP.

An LLP needs to be registered at Companies House. However, while limited companies have to pay corporation tax, this does not apply to an LLP. Instead, all that is usually required is for each partner to declare their tax as a self-employed individual where they are based. If these 2 partners are in fact offshore companies however, then offshore tax will be applied at a flat rate for each one. This means that tax outgoings are no more that £500-£600 per year. We have found Belize to be the most attractive country for establishing this kind of setup. As well as providing substantial savings, this option also provides the opportunity for anonymity. Should you be interested in this, then you may wish to take advantage of our nominee service, allowing you to manage the companies by proxy. While tax is kept to a minimum, this does not negate the LLP’s obligation to provide full account statements to Companies House and HMRC. One particularly large benefit of the LLP is the excellent reputation and level of trust it commands all over the world as a British business entity. Unsurprisingly, a British company creates a far better impression than an offshore company, making it easier to conduct business.

Please read on for details on the setup costs.