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Capital:
Эдинбург
Form of government:
Constitutional monarchy
Area:
78 722 км2
Population:
5 million
Currency:
Pound Sterling (GBP)

Offshore and Scotland

Scotland is rightly included in the international rating of the most developed and prestigious business and financial centers of the world. Despite the fact that it is often positioned as an offshore in the business world - Scotland is not a classic “tax haven”. The level of taxation here is standard for most European countries. Nevertheless, a Scottish commercial organization registered in the country by a foreigner and carrying out business activities exclusively outside the UK and Scotland is not subject to taxation. That is the kingdom provides all those advantages for the entrepreneurs that classic offshore zones provide, while maintaining the business reputation of the company. When choosing a business partner for doing business, most businessmen from the countries with aggressive anti-offshore policies primarily consider the companies registered in the most respectable jurisdictions for this role, and not in “tax havens”.

Scottish company - features

  • In order to conduct international business and investment, the registration of the companies of a certain type is permitted - Limited Partnership (it means - Partnership with limited liability)
  • An offshore company must have a legal address.
  • Lack of requirements for accounting activities. Periodicity of compulsory tax reporting is once a year.
  • Lack of requirements to the authorized capital (registration is possible without authorized capital). The use of bearer shares is prohibited.

Importantly, Ukraine and Scotland did not sign a double taxation treaty. This is due to the fact that the kingdom is not included in the list of the countries with preferential taxation for the foreigners.

Offshore in Scotland - benefits

  1. Ability to conduct any activities that are not subject to a ban by Scottish legislation. Insurance and trust activity implies mandatory obtaining of a license.
  2. Confidentiality of information about the real owner. That is, only the Scottish registration agent knows the name of the real beneficiary.
  3. Possibility to get rid completely of the need for tax payments. It is important that only non-residents of Scotland must be the members of the Limited Partnership. The offshore tax is not levied only if the profit was not received in Scotland and the UK.

Your business is located in Kyiv, but would you like to register a company in Scotland? The company Finance Business Service offers assistance in opening new and buying ready-made Scottish companies, full legal service to commercial organizations.