Our strength: remote banking introduction*
Responsiveness in real time on our chat online, in English or French, our permanent follow-up and our assistance included in all our packages.
The Premium Pack includes :
- LLP company formation in London (UK), with no need to travel, banking introduction* HSBC.
- Whatever your nationality, you can set up your company in London in 1 day, 100% online. You don’t need a London address, you don’t need to be resident in London, and you don’t need a visa. Share capital from £1.
- Ultra-fast bank introduction* assistance*.
- Bonus (free): 3 exclusive business ideas not yet exploited.
- We guarantee comprehensive, high-quality services, with complete transparency and a climate of trust; we guarantee real-time availability 6 days a week, 10 hours a day, follow-up and assistance… Find out what our customers have to say about us.
- Boost your business with our Europe-wide network of contacts (manufacturers, distributors, suppliers, resellers, local agents, logistics and goods-in, etc.).
Don’t leave your company incorporation to just anyone. With us, you benefit from the following advantages and guarantees:
- Unique, take no risk: company incorporation and registration guaranteed satisfied or reimbursed.
- Possibility of undeposited share capital, starting at €1
- We take care of everything
- Ultra-fast bank introduction* assistance*.
- Immediate reactivity
- Company incorporation in 1 to 2 working days
- 100% online (no paperwork), no travel
- Payment in 2 instalments
- We speak English
There’s no need to travel to set up your company, or to introduce your bank*. What’s more, we speak French.
The Premium Pack: SOCIETE LLP 100% online, no need to travel | Pay in 1 or 2 instalments | banking introduction* included
Pay in 1 instalment € 792 + VAT
Pay in 2 instalments, deposit €419 + VAT
- When you place your order, you will automatically receive an e-mail with a Company incorporation form to fill in.
- Payment can also be made by bank transfer: you can place your order above: during payment, you will be offered the option of paying by bank transfer; click on the “Bank transfer” box: when we receive your order, we will send you our bank details for your transfer, with the option of paying in 1 or 2 instalments.
[email protected] (in english or french)
+33667896739 (in french) 
whatsapp (in french)
- Would you like to be reassured about our services? No problem, we can provide you with the telephone numbers of one or more of our customers.
Banking introduction* (online banking, CB,...) to Revolut Business, Wise,... : €0 (included in all Companies incorporation orders)
OR
Assistance in English (an independent account manager, employed by the bank, calls you and takes care of your request to open an account with Revolut Business or with one of our other partners) : €290 + VAT.
OR
Banking introduction* in a real bank in Europe (French language), network of banking agencies in a country bordering France, with travel : €392 + VAT.
OR
Banking introduction* in a real bank, with a network of branches, WITHOUT TRAVEL (which is rare for a real bank), with of course online access, remotely and with an independent account manager, working for the bank, english and french : without travel, €392 + VAT.
OR
HSBC banking introduction* in a European Union country; our HSBC contact allows to study the file remotely, unlike the usual HSBC process.
Promo : €552 + VAT.
You can, of course, opt for an online banking introduction* (neo-banking: Revolut Business or another of our partners), which is included free of charge in all our Company incorporation packages.
Among our strengths :
- Fast, guaranteed company registration in around 1-2 working days (London) + free banking introduction*.
- When you order, we will send you by e.mail, a company incorporation form online to complete and you will attach a copy of your passport or identity card and proof of address.
- Ultra-fast online service (no paperwork and no travel (for certain countries including England, Scotland, Ireland, Bulgaria, Malta, etc..
- As soon as your company is registered, we’ll e-mail you the PDF incorporation documents. You’ll receive your company’s documents by e-mail in real time.
- Free customer support in French, 6 days a week, from 9am to 7pm.
New: contact one of our customer advisors. Would you like to be reassured about our company? We can put you in touch with one of our customer advisors on request.
LLP
A Limited Liability Partnership (LLP) is an alternative type of company structure that is popular with professionals who often operate as partnerships, such as lawyers, doctors and architects, but whose members require limited liability. Other professional activities can be managed by an LLP, and are of course not restricted to the liberal professions: services to professionals and private individuals, consulting, auditing, engineering, intermediation, brokerage, advice, matchmaking, management, training, communication, intermediation between suppliers and buyers, management of private funds or portfolios, holding companies, etc.
An LLP has no directors or shareholders; instead, there are members, more commonly known as “partners”. There must be at least 2 members to register an LLP, but there is no limit to the number of members permitted.
LLPs are governed by the Limited Liability Partnership Act 2000 and the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, rather than the Companies Act 2006.
Hague Convention – 1992 – Decree 92-521 “Any natural or legal person resident in the European Community has the right to set up a company in the country of his choice without having to be resident there for tax purposes”.
The LLP method of taxation provides a greater level of tax transparency, as well as allowing members to remain separate.
You can designate another company (called a “legal entity”) to be a member of an LLP.
LLP members can be based anywhere in the world – they need not be resident in the UK.
LLPs, whose sales are not made in the UK and whose members are non-residents, are not subject to corporation tax; only the members are taxed in their country of tax residence*.
What is a Flow-Through (Pass-Through) Entity?
A pass-through entity is a legal business entity that passes on all the income it generates directly to its owners, shareholders or investors. As a result, only these individuals – and not the entity itself – are taxed on their income. Pass-through entities are a commonly used means of avoiding the double taxation produced with conventional corporate profits and the income of owners, shareholders or investors(1).
Professionals who use LLPs tend to rely heavily on their reputation. Most LLPs are set up and managed by a group of professionals with a wealth of experience and clients. By pooling their resources, partners reduce operating costs while increasing their LLP’s capacity for growth. They can share offices, employees and so on. More importantly, reduced costs enable partners to realize more benefits from their activities than they could individually.
Another advantage of an LLP is the ability to attract partners and let them go. Since a partnership agreement exists in an LLP, partners (members) can be added or removed as specified in the agreement. This is convenient, as the LLP can always add partners who bring with them existing business. Usually, the decision to add requires the approval of all existing partners(2).
Form an LLP :
We offer a package and services dedicated to the creation of Companies incorporation of the LLP type.
Here are the key points to bear in mind when setting up an LLP:
– an LLP must have a minimum of 2 members (although you will of course remain the sole de facto owner of the company);
– you must provide information (passport or identity card) on the persons with significant control (PSC) in the LLP; generally, the members are all PSCs, although they have limited liability and are not responsible to each other in any way;
– LLPs must be formed for the purpose of making a profit – this corporate structure is not suitable for not-for-profit organizations.
FAQ :
What is an LLP member?
An LLP member is a partner in an LLP limited liability partnership. You must have a minimum of 2 members to create an LLP.
Who can be an LLP member?
An LLP member can be any person of any nationality, or a legal entity.
What’s the difference between a member and a LLP member?
Members have exactly the same rights and duties as all other LLP members, but they have the additional responsibility of ensuring that the LLP and its members comply with all statutory requirements and obligations. They must ensure that the confirmation statement and annual accounts are filed accurately and on time. They also see to all formalities in the event of the LLP’s dissolution.
LLP members must pay tax in their country of tax residence*.
KEY POINTS
Liability Limited Partnerships (LLPs) offer a partnership structure in which each partner’s liability is limited to the amount he or she invests in the business. Having partners in an LLP means benefiting from the individual skills and expertise of each member, and establishing a division of labor.
Limited liability means that if the partnership fails, creditors cannot come after a partner’s personal assets or income, provided of course there is no mismanagement or other fault.
LLP companies are common in professional businesses such as law firms, accountancy firms, medical practices and asset managers, but their flexibility means that they can also be used for other professional activities, the sale of services (consulting, maintenance, expertise, transport, etc.), advice, intermediation, brokerage, property management, patents and trademarks, etc.(2)
Setting up a foreign company also means establishing an economic substance (actual local organization of the activity: offices, premises, activity, materialization, resources, etc.), which will be complicated for you to achieve in a distant country, in your capacity as owner of the company, if you are not resident in the country where your company is located. The non-existence of economic substance in a foreign company is tantamount to the de facto operation and tax establishment of the company in the owner’s country of tax residence. For a European national, setting up a Company incorporation in Europe means making it easier to establish the company, and then mastering the administrative management, accounting, production, marketing and tax declarations in the country where the company is headquartered. Not to mention the company owner’s tax obligations in his or her country of tax residence.
In France, the LLP can be likened to the SNC: “By default, the SNC is not taxed at company level. However, each partner must declare his or her share of profits and remuneration as industrial and commercial profits (BIC) or non-commercial profits (BNC) on his or her income tax return”. Source : https://www.economie.gouv.fr/entreprises/societe-en-nom-collectif-snc#:~:text=collectif%20(SNC)%20%3F-,R%C3%A9gime%20fiscal,dans%20sa%20d%C3%A9claration%20de%20revenus.
The limited partnership is also close to the LLP legal type. Whether LLP, LP or SNC, legal, tax and other differences apply*.
“The general partnership (SNC) must have a commercial activity. Liberal or civil activities cannot be carried out in an SNC. The SNC is a partnership in which the partners are all merchants and are indefinitely and jointly and severally liable for all the company’s debts.”
Source : https://www.economie.gouv.fr/entreprises/societe-en-nom-collectif-snc
Liability Limited Partnership (LLP): similarities or equivalents: partnerships, limited partnerships, SNCs (non-exhaustive list).
It should be noted that you will need to organize the economic substance of your foreign company, subjecting you to the tax requirements of the place where your company is headquartered and those of the country where you are resident for tax purposes.
LLP VS LTD
Brief comparison of Limited Liability Partnerships “LLP” and Private Limited Companies “LTD” as legal structures in the UK.
LLPs are often used for professional service businesses, while LTD companies tend to be used for commercial enterprises, but there are a number of commercial and tax points to consider when deciding which structure is best suited to a business.
- Similarities
- Differences
- Best option?
1 – Similarities between LLPs and LTDs
An LLP is a hybrid of a limited liability company and a traditional partnership. It aims to combine the limited liability enjoyed by the partners of an LTD with the advantages of flexibility and tax transparency provided by a partnership. LLPs are much more like limited liability companies than traditional partnerships.
As such, Limited companies and LLPs share several essential characteristics, as follows :
- Constitution and set-up
Both LLPs and LTDs are incorporated in England. An LTD company will have directors and shareholders, while an LLP will have members only. The constitutive document of an LTD company is its articles of association (and any corresponding shareholders’ agreement). The equivalent for an LLP is the members’ agreement.
- Legal personality
An LLP or LTD is a legal entity with legal personality, which means that it can enter into contracts, own property and sue in its own name.
- Limited liability
Unlike a traditional partnership, members of an LLP or shareholders of an LTD have limited liability, which generally means that they do not need to meet the LLP’s or LTD’s obligations. The liability of a partner in an LTD company will be capped at the unpaid amount of the shares he or she holds. The liability of a member of an LLP is limited to the amount of capital he has agreed to contribute under the members’ agreement.
Members of an LLP and directors of an LTD company will generally only become personally liable for debts or obligations in certain limited circumstances (such as unlawful or fraudulent transactions).
- Submission requirements
LLP and Limited (LTD) companies are required to file annual accounts with the English Registrar of Companies. Both must also create and maintain a register of persons exercising significant control.
- Fixed or floating fees
LLP and LTD companies may pledge fixed and floating charges against their assets.
2 – Differences between LLP and LTD
Despite the similarities between these two types of company, there are a number of key differences that need to be taken into account when considering the most appropriate structure for your business:
- Organizational flexibility
Both an LTD and an LLP offer flexibility in terms of structure, but the members of an LLP arguably enjoy greater organizational flexibility and are free to agree amongst themselves the affairs and governance of the company. The affairs of an LTD limited company must be managed within the confines of the Companies Act 2006, which imposes stricter restrictions on Limited companies than LLP legislation.
As a result, members of an LLP have greater flexibility in how they share profits, organize capital, their management structure, how decisions are made, how members are appointed and how they retire.
- Confidentiality
Unlike an LTD company, whose articles of association are publicly available from the English Registry, an LLP members’ agreement is private. This members’ agreement covers issues such as profit and loss sharing, capital shares, management responsibilities, admission of new members, retirement, expulsion of members and dispute resolution. If members are unable to resolve these issues, LLP legislation contains certain default provisions, although the best practice is to put an agreement in place.
- Tax treatment
For tax purposes, an LLP is treated as a partnership. This means that it is tax transparent, in that the LLP entity itself is not taxable, but the members are taxable as individuals, both on profits made by the LLP and on gains on the sale of LLP assets. Normally, LLP members are treated as self-employed and will be liable for income tax on their share of LLP profits. In the case of an LLP owned by foreigners (non-UK tax residents), the taxation of the members’ countries of tax residence applies. This taxation will be Income Tax and or Non-Commercial Profits Tax and or possibly any other taxes specific to the said countries of tax residence.
On the other hand, a Limited Company (LTD) is considered a separate entity for tax purposes and will pay Corporation Tax on the company’s profits. Shareholders will generally be liable for income tax on their salaries. Shareholders of an LTD company will also pay tax on any dividends they receive, and on any gains realized on the transfer of their shares in the company.
In the case of an LTD owned by foreigners (non-UK tax residents), the tax laws of the shareholders’ countries of tax residence apply. This includes income tax, dividends, gains realized on the transfer of shares in the company, and any other taxes specific to the country of residence. If the foreign company has no economic substance (premises, offices, employees, office automation, actual activities, etc.), the company will be deemed to exist, materially, administratively and legally, by default, only in the country of tax residence of the shareholder(s), with all the tax consequences that this implies.
Investing and selling
LTD companies are often considered more attractive from an investor’s point of view, as they can buy shares in a Limited LTD company, without having to become a director. An investor in an LLP must become a member, and a share or part of an LLP cannot be sold in the same way as shares in an LTD company.
- Share capital
Unlike an LTD company, an LLP has no share capital.
3 – Best option?
LLPs and LTDs are well-known and commonly used types of company in the UK, offering flexibility and limited liability. When comparing them, it’s important to consider which is most appropriate for the business to be set up, as well as the structure required and the nature of its activity.
Find out more about Limited liability partnerships (LLP)
A legal entity with a legal personality distinct from that of its members.
Limited Liability Partnerships Act 2000 (LLPA 2000).
Changes in the composition of an LLP do not affect its existence.
LLPs combine the flexible structure of a partnership with the advantages of limited liability for its members. An LLP owns the company’s assets and is liable for its own debts; members act as agents and are only liable up to the amount they have paid into the LLP. An LLP is fiscally transparent, so its members are generally subject to the same tax treatment as general partnerships and their partners.
https://uk.practicallaw.thomsonreuters.com/Glossary/UKPracticalLaw/Iacc21b1e1c9a11e38578f7ccc38dcbee?transitionType=Default&contextData=%28sc.Default%29
A limited liability partnership (LLP) is a legal entity for company law purposes, but is generally taxed as if it were a partnership (i.e., it is fiscally transparent). This means that when an LLP carries on a trade, profession or business with a view to making a profit, its profits and gains will normally be taxed in the hands of its members, rather than being taxed on the LLP itself. Tax transparency also means that members will be taxed on the LLP’s profits and gains as they arise, whether or not they have been distributed to members.
https://www.lexisnexis.co.uk/legal/guidance/taxation-of-uk-llps
Requirement for LLP members to be self-employed
Individual members
There are no tax obligations at LLP level. Profits are taxed on the individual members of an LLP, in accordance with and in proportion to their profit-sharing rights. https://www.macfarlanes.com/media/1723/structuring-a-business-as-a-limited-liability-partnership_july-14.pdf
Partnerships, including LLP limited liability partnerships, are tax-transparent. This means that the partnership itself is not subject to tax: any profits are taxed on the partners.
As a general rule, for tax purposes, each partner is considered to receive his or her share of the partnership’s income and expenses as they arise. This treatment is overridden in special cases by anti-avoidance legislation designed to prevent partnership structures from being used to avoid (or reduce) tax. The description below focuses on two such provisions: the rules for reallocating profits in “mixed partner” partnerships, and the “salaried partner” rules that apply to limited liability companies.
Mixed partnerships
A mixed partnership is a company that includes both individuals and non-individuals (most often, but not necessarily, companies, and hereinafter referred to as “associated companies”) as partners. Since April 6, 2014, partnership tax anti-avoidance rules have applied to mixed partnerships whose profits are transferred from individual partners to corporate partners in order to reduce the overall tax liability. These rules apply to both partnerships and LLPs.
The intention of these rules is to prevent (for example) profits being transferred from an individual to a corporation owned by him (or a member of his family). The anti-avoidance provisions therefore aim to redirect diverted profits to the individual concerned.
Salaried members
The rules on salaried members are designed to identify members whose conditions of service are more akin to an employment relationship than to self-employment. These rules apply only to UK LLPs, and not to partnerships or limited companies formed overseas.
In terms of partnership tax, where a person is treated as an employed member, they will be subject to PAYE and Class 1 National Insurance Contributions (NICs) on their LLP income. The LLP will also be subject to Class 1 NICs in respect of the salaried member’s remuneration, but will be able to claim a tax deduction for the cost of their employment. In effect, the payment to the member is treated as employment income for tax purposes.
A person is treated as a salaried member when all three of the following conditions are met:
Condition A
The individual provides services to the LLP in his or her capacity as a member, and it is “reasonable to expect” that the remuneration payable by the LLP for these services is wholly or substantially (presumed to be 80% or more) a “disguised salary”.
Disguised salary is remuneration that is fixed or, if variable, is not calculated by reference to, or is in practice unaffected by, the LLP’s overall profits or losses.
Individuals will be covered by this condition unless more than 20% of their variable remuneration is linked to the company’s overall profitability. It is not enough for it to be linked to the performance of the individual, branch or team.
Condition B
Condition B is that the mutual rights and duties of the members and the LLP do not give the member significant influence over the LLP’s affairs.
This is interpreted by HM Revenue & Customs (HMRC) to mean the role played by the individual and whether that individual is “in business” or simply “working for the company”.
Influence on one part or branch of the LLP, rather than the whole, is also insufficient. Many large partnerships and those with hierarchical or management structures are likely to find that only a few partners will escape this condition. HMRC has confirmed that influence does not necessarily mean sitting on the LLP board.
Condition C
Condition C is that the individual’s capital is less than 25% of the LLP’s disguised salary in the relevant tax year.
This is the amount the individual has invested under the LLP agreement, taking into account any subsequent changes. However, it does not include amounts that the member may withdraw, such as unused profits or short-term loans.
When a partner leaves or joins the partnership during the year, the capital contribution is prorated for the purposes of this test.
If either of these conditions is not met, the individual will continue to be treated as self-employed for tax purposes (and the tax payable on the partnership will therefore be only on the individual’s share of partnership income and expenses).
This factsheet is based on HMRC law and practice as at May 1, 2019. https://www.saffery.com/insights/publications/partnership-tax/
As a reminder, the creation of a Company incorporation abroad must be motivated by commercial or strategic necessity, as part, for example, of an expatriation project or to relocate the manufacture of products, a search for a location to facilitate logistics (notably import-export), proximity for human resources and raw materials, cost savings notably for warehousing, etc….
We hope these explanations provide a useful summary; they do not constitute legal or tax advice. We are by no means lawyers, and you should consult a tax and/or international trade lawyer before placing an order on our website.
“The LLP itself pays no tax on its profits. https://hillierhopkins.co.uk/faq/llp-v-limited-company-whats-best/#:~:text=An%20LLP%20allows%20its%20members,at%20the%20marginal%20rate%20applicable.
Tax in a limited liability company versus an LLP
One of the main differences between limited liability partnerships and LLPs is the treatment of tax. A limited liability company is completely separate from the people in the business, so for tax purposes this means :
A limited company pays tax in its own right, filing a corporation tax return and paying corporation tax on taxable profits.
Directors pay tax separately on the income they derive from the company. Their income may come from a salary paid to them by the company. If directors are also shareholders, they may also receive a share of the company’s profits in the form of dividends.
An LLP as an entity is not taxable, but the members are. So, no corporation tax return, and no corporation tax for an LLP. https://www.theaccountancy.co.uk/limited-company/whats-difference-llp-limited-company-7698.html#Tax%20in%20a%20limited%20company%20versus%20an%20LLP
“LLP: Taxation
Although in general law an LLP is treated as a body corporate, for tax purposes an LLP is normally treated as a partnership under the Income Tax (Business and Other Income) Act 2005 S863, S1273 of the Corporation Tax Act 2009.
Where an LLP carries on a trade, profession or other business with a view to making a profit:
all LLP activities are considered to be carried out as a partnership by its members (and not by the LLP as such)
anything done by, to or in connection with the LLP for the purposes of any of its activities shall be deemed to be done by, to or in respect of the members as partners, and the property of the LLP shall be deemed to be held by the members of the LLP.
An LLP must be transparent for tax purposes and, consequently, each partner is charged income tax or corporation tax on his share of the LLP’s income or gains as if he were a member of a partnership governed by the Partnerships Act 1890.
It follows that where an LLP carries on business with a view to profit, it may be considered a partnership in respect of all its activities, including those not carried on with a view to profit.
It is the persons registered as members of the LLP who carry on the business. If an LLP carries on an operation, each registered member is taxable on the income he or she derives from the LLP as business profits.” https://www.gov.uk/hmrc-internal-manuals/partnership-manual/pm131450
The company must have a registered office address in London; we provide this for €41 + VAT. per month, including digital mail management.
Company incorporation in Europe
Company incorporation in Europe is when you first apply to register a company in a different European country from the one in which the owner of the company is resident for tax purposes. This type of company is also known as an extra-territorial, foreign, delocalized or international company.
As an option, on request and subject to quotation, we can help you create the economic substance of your company (location, materialization, recruitment, organization, development).
(1)Satisfaction or your money back guarantee: registration of your company with a Satisfaction or your money back guarantee, subject to receipt of the duly completed Company incorporation form, accompanied by a scan of your valid passport or identity card and proof of address less than 3 months old (landline or cell phone bill or electricity bill or equivalent, in French or English), for each of the directors, partners and members.
*The registration of a bank account* by a third party is illegal, even with a power of attorney; we invite you to be wary of sites offering to open a bank account* for you. An independent manager from our company, an account manager working for the bank, will call you to handle your request to open a bank account*. Our service is to put you in touch with the bank, not to open a bank account*. The bank has the sole right to decide whether or not to open a bank account* (art. L. 312-1, II CMF). The bank’s decision is based on the applicant’s profile and eligibility to open a bank account*. We do not open a bank account ourselves and do not guarantee the opening of a bank account*. Banking introduction* is a service obligation, not a performance obligation or a results requirement. See our other special conditions and our Terms of use, sales and privacy policy.