What are the differences between Limited Liability Partnership (LLP) and Limited Company?

An LLP has a more flexible structure compared to a limited company while still remaining benefits of being a body corporate. Profits sharing among members of an LLP can be varied and the members’ agreement is not required to be registered with the Companies House. In addition, it’s not mandatory for a limited company to hold an annual general meeting.

How is an LLP taxed in the UK?

Individual members of an LLP are subject to tax for its share of profits.

How is a limited company taxed in the UK?

The current tax rate applied to a limited company in the UK is 19%. The tax is imposed on the company’s total income, which includes both domestic and international income. A limited company can be eligible for the UK’s network of double tax treaties to avoid double taxation on foreign-earned income.

What things should I notice about naming a UK LLP?

The following conditions for naming an LLP need to be satisfied:Ends with words of “limited liability partnership” or “LLP”;Doesn’t contain sensitive or restricted words by the regulations;Doesn’t imply a connection to government or local authority;Doesn’t include words that constitute an offence;Avoid using certain characters, signs, symbols and punctuation;Must not be the same or identical to the names of existing companies.

What are the initial requirements for setting up an LLP?

At least two designated members;A local registered address to receive notice of local authorities.

What things have to be done annually to keep a UK LLP compliant with local regulations?

Maintain a minimum of two designated members and a local registered address;Filing annual return and audited accounts.

How much does it cost to register a UK company?

It will depend on the type of business entity. Our Basic packages for a limited company and a limited liability partnership will cost you respectively US$549 and $499. They cover everything you need to set up a business in the UK.

Why should I use BBCIncorp's UK company formation services?

We are capable of registering a UK company in just 1-3 working days. Our packages are designed to meet all of your needs, with no hidden fee. Plus, our employees guarantee fast and responsive communication.Update: We have just released an all-in-one portal.It can help you manage and track your incorporation process(es) easily. Everything goes smoothly when using BBCIncorp's services.

UK company formation for Non-residents with bank account opening

Benefit

Offshore Company Registration in UK

Benefit

The current corporate tax rate is set at 19%

Ranked among top 10 countries worldwide for ease of doing business by the World Bank

Supportive financial schemes accompanied by world-class infrastructure

Having access to one of the world's largest network of double tax treaties (DTT) with more than 130 countries

High-skilled labor force with a relatively lower cost compared to other European countries

Feature

Limited Liability Partnership (LLP)

1-3 business day formation

Organizational flexibility with tax advantage of a partnership

Member interests protected with limited liability

Tax exemption for non-residents owners with foreign-source income

Benefits from the reputation of a UK incorporated company

Private Limited Company (LTD)

1-3 business day formation

Separate legal entity

Member interests protected with limited liability

Corporate tax rate of 19%

Prestigious and professional business image

UK Company Formation Packages

BBCIncorp provides one of the best UK business registration services. Our packages include all costs of forming a company in the UK. We support you through every step of the incorporation process.

Limited Liability Partnership (LLP)

Private Limited Company (LTD)

Open Your Bank Account and Unlock Exclusive Benefits

Through our partnership with leading financial institutions, such as Wise, Payoneer, and others, BBCIncorp offers you exclusive incentives when opening a UK business account with us.

By creating a Payoneer account through our services, your business is entitled to:

A $500 cashback amount
Free maintenance & account opening fees
Fixed transaction fee at 1%

When opening a Wise account with BBCIncorp, you can benefit from the following advantages:

Free transaction fee for the first transfer of up to GBP 1,000; or
For the equivalent in other currencies

Refund Guarantee

We refund your money in full for services that we cannot deliver.

Read our policy

Bring your next business venture online

Streamlined process

Start at your own pace. And reduce waiting time for back-and-forth email communication.

E-signature

Collaborate with your partner more easily. Less paperwork, more efficiency.

Digitized KYC

Standardized form & organizational chart to let you control and declare your information effortlessly.

Centralized management portal

24/7 access to company documents on high-security cloud infrastructure. And no worry about key compliance deadlines with auto reminder.

United KingdomCompany Incorporation Process

Create your orders

Enter our online order platform for easy onboarding experience and tailor your orders. We have different packages and additional services that suit your goals. All information filled in is secured over 256-bit encrypted line.

Make payment

You can settle payment for services via flexible payment options including debit/credit card of Visa, Master, Amex or Bank Transfer. After you complete payments, we will provide you a checklist of required information.

Collect and verify KYC documents

Once we've received your payment, our customer service will contact you to process the necessary paperwork. We'll guide you to properly prepare documents for incorporation via KYC online form. You can also access our digital Client Portal to proceed with the incorporation steps and keep track of the process anytime, anywhere.

Finish the company registration

The electronic documents are ready after 1-2 working days of company formation, and it takes 3-7 days for courier the original kit.

KYC Documents Checklist

KYC documents are essential to verify the identity of individuals and corporations in United Kingdom. Below, you'll find a list of the required documents.

Individual

Corporation or Entity

The following proofs are required for all company members including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons.

A certified true copy (scanned version) of the passport (valid for at least 6 months);
A comprehensive Curriculum Vitae (C.V.), Resumé, or Linkedin profile.

See sample of a certified true copy

To establish the identity of a corporation or entity, it is necessary to provide company documents and proofs of its members.

Please provide us with certified true copy (scanned version) of the following company documents:

Certificate of Incorporation;
Memorandum and Articles of Association / Constitution;
Register of Director;
Register of Shareholder / UBO;
Extract of the company’s details from the Registrar of Companies, which can include any of the following: Business Profile / Certificate of Incumbency / Certificate of Good standing (valid for within 6 months if any).

Note: in case the company documents can be certified via official government site, there is no need to submit certified copies.

*Note that the list provided, while comprehensive, may not encompass all requirements.
For further personalized consultations tailored to your specific case, please reach out to our support team anytime.

KYC Documents Checklist

KYC documents are essential to verify the identity of individuals and corporations in United Kingdom. Below, you'll find a list of the required documents.

Individual

Corporation or Entity

The following proofs are required for all company members including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons.

Proof of identity

A certified true copy (scanned version) of the passport (valid for at least 6 months);
A comprehensive Curriculum Vitae (C.V.), Resumé, or Linkedin profile.

See sample of a certified true copy

Proof of address

We require certified true copy (scanned version) of address proof, which can include any of the following: Bank reference / Bank statement / Utility bill / Driver license.

The address proof must clearly show the holder's full name along with physical address written in English (P.O. Box addresses are not accepted).

Please note that the provided proofs must be the most recent version and dated within the last 3 months.

To establish the identity of a corporation or entity, it is necessary to provide company documents and proofs of its members.

Company documents

Please provide us with certified true copy (scanned version) of the following company documents:

Certificate of Incorporation;
Memorandum and Articles of Association / Constitution;
Register of Director;
Register of Shareholder / UBO;
Extract of the company’s details from the Registrar of Companies, which can include any of the following: Business Profile / Certificate of Incumbency / Certificate of Good standing (valid for within 6 months if any).

Note: in case the company documents can be certified via official government site, there is no need to submit certified copies.

Company members

All members of the corporation, including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons, must provide identity and address proofs.

For a detailed list of requirement, see here

Need more help to set up a business in the United Kingdom?

Just get in touch with us. We typically response within 2 hrs.

Frequently Asked Questions

incorporation

taxation

annual compliance

others

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United Kingdom
Company Formation

Offshore Company Registration in UK

Limited Liability Partnership (LLP)

Private Limited Company (LTD)

UK Company Formation Packages

Open Your Bank Account and Unlock Exclusive Benefits