UK Ltd or LLP what's the best and how to pay less tax?

[CaptK]

What if the UK LLP's partners are US LLCs? How hard is it to get proper banking then?

NIGHTMARE!!!

 

[rey skywalker]

you can have llp with a uk residendent with full poa , it should easy get a bank account

 

[EuroKiss]

NIGHTMARE!!!

Why nightmare??? It is what I am planning to do: 2 US LLCs (non-resident alien owned) owning a UK LLP. I will be liable for tax, but actually I am a EU citizen legally fiscally resident in a banana republic.

 

[CaptK]

Why nightmare??? It is what I am planning to do: 2 US LLCs (non-resident alien owned) owning a UK LLP. I will be liable for tax, but actually I am a EU citizen legally fiscally resident in a banana republic.

LLP partner being an LLC you will find it very difficult to get a bank account.

If so set up a UK LTD and use that as the partner. As the EPB is not UK you can use it as a pass through and tax is due in the country of residence.

 

[rowena]

I am also considering to open UK LLP and I have 2 options for my structure:

1-) Myself (UAE Resident) + My UAE Company
2-) Myself (UAE Resident) + My Wife (UAE Resident)

I consider the first option more but I'm not sure it is a good idea for banking(TW is enough). Privacy is not important since I don't have any income/corporate tax liability.

 

[rey skywalker]

no bank in uk will open you account is clear tax cheating scheme, may some emi , or some offshore bank, you sohuld find uk resident nominee

 

[CaptK]

I am also considering to open UK LLP and I have 2 options for my structure:

1-) Myself (UAE Resident) + My UAE Company
2-) Myself (UAE Resident) + My Wife (UAE Resident)

I consider the first option more but I'm not sure it is a good idea for banking(TW is enough). Privacy is not important since I don't have any income/corporate tax liability.

Option 2 is a good solution but it would be difficult to open a bank account.

You could use yourself or your wife and a dormant UK LTD or a UK based nominee.

 

[rowena]

@CaptK
Do you think option 1 is a bad solution(TW account is enough)? Are there any risks for using UK based nominee?

 

[CaptK]

Option 1 is just difficult to open an account. If TW accept then do that.

 

[EuroKiss]

LLP partner being an LLC you will find it very difficult to get a bank account.

If so set up a UK LTD and use that as the partner. As the EPB is not UK you can use it as a pass through and tax is due in the country of residence.

Thanks CaptK for your replay! Got a second question hence: why by having a UK LTD among members (I red somewhere in the forum even with a mere 5%) should make a difference for a UK bank?

 

[D0naldDuck]

I am also considering to open UK LLP and I have 2 options for my structure:

1-) Myself (UAE Resident) + My UAE Company
2-) Myself (UAE Resident) + My Wife (UAE Resident)

I consider the first option more but I'm not sure it is a good idea for banking(TW is enough). Privacy is not important since I don't have any income/corporate tax liability.

Would the same setup be possible with a Ireland Limited Partnership instead of UK?

 

[Skipper]

Option 1 is just difficult to open an account. If TW accept then do that.

If both LLP nominees are actual people (planning of opening up an LLP with my sibling), will TF and Stripe most likely accept it without an issue?

 

[CaptK]

Yes but make sure your company doesn't even come close to their not accepted industries.

 

[erni]

What if the UK LLP's partners are US LLCs? How hard is it to get proper banking then?

it is impossible to get any proper banking for such setups now a days. Unless you have a big wallet and your lawyers to back you up locally in the UK.