Hi everyone,
I am a European citizen residing in the UK, the time has come to open a company here in the UK to manage the local businesses that I plan to develop (e-commerce, import-export)
After various searches here on the forum I thought of this configuration: opening a UK LLP with two members, the first me a natural person and the second a Wyoming LLC (which I already have) this would have the sole purpose of providing a large part of the initial liquidity that the LLP needs to start business, in exchange obviously in the partnership agreement it will be recognized 70% of future profits or losses and to me, a natural person residing in the UK, the remaining 30% of profits or losses”¦
Is this configuration workable and credible in the eyes of HMRC? how do you write the partnership agreement to make the configuration work? is it better to distribute profits 50/50? It would change very little for me since the profits for the next few years will be a few tens of thousands of pounds”¦. What is more important is to have a reputable structure to do business with and then when profits increase in the future to have an open door to easily re-domicile in a tax free country like Dubai
Thanks
I am a European citizen residing in the UK, the time has come to open a company here in the UK to manage the local businesses that I plan to develop (e-commerce, import-export)
After various searches here on the forum I thought of this configuration: opening a UK LLP with two members, the first me a natural person and the second a Wyoming LLC (which I already have) this would have the sole purpose of providing a large part of the initial liquidity that the LLP needs to start business, in exchange obviously in the partnership agreement it will be recognized 70% of future profits or losses and to me, a natural person residing in the UK, the remaining 30% of profits or losses”¦
Is this configuration workable and credible in the eyes of HMRC? how do you write the partnership agreement to make the configuration work? is it better to distribute profits 50/50? It would change very little for me since the profits for the next few years will be a few tens of thousands of pounds”¦. What is more important is to have a reputable structure to do business with and then when profits increase in the future to have an open door to easily re-domicile in a tax free country like Dubai
Thanks
