Hi everyone,
I am a European citizen residing in the UK, the time has come to open a company here in the UK to manage the local businesses that I plan to develop (e-commerce, import-export)
After various searches here on the forum I thought of this configuration: opening a UK LLP with two members, the first me a natural person and the second a Wyoming LLC (which I already have) this would have the sole purpose of providing a large part of the initial liquidity that the LLP needs to start business, in exchange obviously in the partnership agreement it will be recognized 70% of future profits or losses and to me, a natural person residing in the UK, the remaining 30% of profits or losses…
Is this configuration workable and credible in the eyes of HMRC? how do you write the partnership agreement to make the configuration work? is it better to distribute profits 50/50? It would change very little for me since the profits for the next few years will be a few tens of thousands of pounds…. What is more important is to have a reputable structure to do business with and then when profits increase in the future to have an open door to easily re-domicile in a tax free country like Dubai
Thanks
I am a European citizen residing in the UK, the time has come to open a company here in the UK to manage the local businesses that I plan to develop (e-commerce, import-export)
After various searches here on the forum I thought of this configuration: opening a UK LLP with two members, the first me a natural person and the second a Wyoming LLC (which I already have) this would have the sole purpose of providing a large part of the initial liquidity that the LLP needs to start business, in exchange obviously in the partnership agreement it will be recognized 70% of future profits or losses and to me, a natural person residing in the UK, the remaining 30% of profits or losses…
Is this configuration workable and credible in the eyes of HMRC? how do you write the partnership agreement to make the configuration work? is it better to distribute profits 50/50? It would change very little for me since the profits for the next few years will be a few tens of thousands of pounds…. What is more important is to have a reputable structure to do business with and then when profits increase in the future to have an open door to easily re-domicile in a tax free country like Dubai
Thanks
