United Kingdom (Onshore) United Kingdom is located off the northwestern coast of Europe between the Atlantic Ocean and the North Sea. It is separated from the continent by the Strait of Dover and the English Channel, and from the Irish Republic by the Irish Sea and the St. Georges Channel. The United Kingdom is comprised of four constituents, England, Wales and Scotland, which alone form Great Britain and combined with Northern Ireland and several island groups, form the United Kingdom. The UK, a leading trading power and financial centre, is one of the quartet of trillion dollar economies of Western Europe. Over the past two decades the government has greatly reduced public ownership and contained the growth of social welfare programs. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. GDP growth slipped in 2001-02 as the global downturn, the high value of the pound, and the bursting of the "new economy" bubble hurt manufacturing and exports. Still, the economy is one of the strongest in Europe; inflation, interest rates, and unemployment remain low. The relatively good economic performance has complicated the BLAIR government's efforts to make a case for Britain to join the European Economic and Monetary Union (EMU). United Kingdom is not recognised as a tax haven jurisdiction. It is an ideal corporate body to carry out trading activities. Since the profits from a trade or profession of a LLP (Limited Liability Partnership) are taxed as a partnership then as long as there is no trading in the UK or source of income in the UK or member resident in the UK, the LLP can be structured to avoid charge to UK taxation Company Statute: Limited Liability Partnership (LLP) Taxation: The taxation rate is between 0% and 30% depending on the net profits before tax. Shareholders/Members: 2 members minimum. Each member holds a percentage ownership in the LLP, which can be formally documented in the Private Members Agreement. Directors/Managers: An LLP is controlled by its members and not by a board of directors. It may however appoint a general manager to deal with day-to-day administrative matters. Registered Office Required: Yes. Registered Agent Required: No. Name Restrictions: Any word that the Registrar considers undesirable. Any name that is identical or similar to an existing company. Any name that implies illegal activity or implies royal or government patronage, the following words or their derivatives: asset management, asset manager, assurance, bank, banking, broker, brokerage, capital, credit, currency, custodian, custody, dealer, dealing, deposit, derivative, exchange, fiduciary, finance, financial, fund, future, insurance, lending, loan, lender, option, pension, portfolio, reserves, savings, security, stock, trust or trustees. Annual Reporting: Annual Report is required. Annual Government Fee: 100 EUR.

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