Indonesia vs Paraguay Director for my UK LP

[TitanSan]

Hello!

In case you would have to open an UK LP (that makes money serving digital services to different companys in Italy) and you were able to choose the nationality of the director between Paraguay resident or Indonesia resident, which one would you choose?

Are there any differences? Im almost sure there are not so much difference, but in case someone knows or has a similar setup it would be great to hear.

Have a nice day!

 

[Sols]

First of all, LPs and LLPs don't have directors. They have partners and both of you need to be partners. You can designate a general partner and a limited partner in an LP, whereas in an LLP you can have designated members and regular members.

Functionally it makes no difference which partner has what designation. Banks are going to view the LP or LLP as unusual just in and of itself, and then when they find out that the partners are residents in Indonesia and Paraguay, I'm afraid you're going to have a very hard time making this work.

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This is the probably the answer to your question.

 

[TitanSan]

Sols said:
First of all, LPs and LLPs don't have directors. They have partners and both of you need to be partners. You can designate a general partner and a limited partner in an LP, whereas in an LLP you can have designated members and regular members.

Functionally it makes no difference which partner has what designation. Banks are going to view the LP or LLP as unusual just in and of itself, and then when they find out that the partners are residents in Indonesia and Paraguay, I'm afraid you're going to have a very hard time making this work.
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Yes, i was refering to "director" as the "main partner", but i get what you say: The problem itself is the company, and being from Indonesia and Paraguay, even harder.

 

[CALAY]

Hello @TitanSan,
Could you kindly provide more details regarding the turnover volumes? Additionally, would you be open to setting up an account in another EU jurisdiction, such as Spain? Lastly, could you specify the countries from which the company will receive funds and where payments will need to be made?

 

[diro]

Wonder what people with real good intention do if they are from such countries but want to start a foreign owned company?!