The state of Wales is located in the southwestern part of Great Britain. Entrepreneurs, who want to get most favorable conditions for the international taxation, which can be reduced to zero, should pay attention to the opportunity to register a company in Wales. Companies in England have already gained popularity among businessmen, but enterprises in Wales also managed to get positive feedback.
The most common form of doing business is LLP. In order to register LLP in Wales, the name of your company must be completely unique. The law of Wales allows you to register an LLP company in Wales and provides a zero tax rate in cases of registration for non-residents. Another privilege is that the setting up a company in Wales remains anonymous to partners of the company. It would be nice, if partners, who want to open an LLP in Wales, are residents of low tax jurisdictions. It is worth noting, that partners do not have the opportunity to conduct their activities in Britain. LLP in Wales does not submit any annual reports and may not have a physical office, because the address is needed only for a company registration. The partnership agreement fixes the share of income of each of the participants in the company. In order to open an LLP company in Wales, it does not matter partners will be represented as a legal entity or as an individual. The only important thing is that the minimum number of participants must be at least two people. Opening a commercial firm in Wales is one of the best solutions for entrepreneurs, who want to get a full tax exemption and to work with companies, that are registered in the European Union.
Another form of doing business in Wales is LTD. The liability of LTD participants is limited by their contribution to the capital. If you decide to register an LTD company in Wales, a corporate income will not be taxed. Under laws of Wales, participants pay taxes only to the country, of which they are residents, but the tax is on income derived from activities, not a company income. All documents must be translated into the official language - Welsh.
Please, contact IQ Decision lawyers, who will provide you with professional advice on registering a company in Wales, if you are interested in this possibility. You can use any form of feedback.
The information outlined in the article is actual at the time of its publication.
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