Business in Scotland

Advantages

Scottish partnerships are not taxed.
There is no need to submit reports to the Register.
There is no need to submit tax returns.
Ready-made partnerships are always available, re-registration takes 2 hours.
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The price for registration and renewal of the company is very competitive.
Confidentiality at a high level.

Increase in globalization and foreign trade in the last century led to aggressive tax planning. Though these planning measures are legitimate, they are designed for shifting profits to low tax jurisdictions. There is a number of measured to deal with this tax abuse. In particular, some jurisdictions apply controlled foreign corporation (CFC) rules. Historically, the CFC concepts were created to help prevent tax evasion achieved by setting up offshore companies in tax havens, such as Bermuda...

Non-discrimination articles have been used in tax treaties over a number of years, they are designed to place non-discrimination requirements on the source country rather than on the residence state. There may arise cases where a country provides favourable treatment to its nationals and discriminates against foreigners. To circumvent such cases tax treaties provide a clause which restricts contracting states from offering discriminatory treatment to foreign nationals as compared to its...

At the end of July 2018, a draft law on the registration of foreign companies was published in the UK (hereinafter - the Law). The purpose of this Law is to maintain a register of foreign companies since 2021 that own real estate in the UK. This Law is a “continuation” of the legislation on “persons with significant control”, which was introduced for UK companies in 2016. New requirements for foreign companies are aimed at combating the use of property located in the UK, for the...

Back in the first quarter of 2018, namely on February 19, 2018, a draft of advisory document was published on the official website of the Organization for Economic Cooperation and Development (OECD), which called on all interested parties to join the discussion on the OECD strategy for combating the loopholes on using the Common Reporting Standard (CRS, Single standard of tax information exchange) in the “citizenship by the investment” (CBI - granting citizenship in exchange for...