Latvia LLP
- Profit sharing plans and other arrangements can be agreed flexibly between partners and changed as required
- The partnership makes an annual return but members retain self-employed status and report their share of profit on their personal tax return
- Perpetual succession applies an important factor for the stable ongoing development of the business
- As a separate legal entity, the LLP can enter into contracts and sue (or be sued) without the need for partners to be exposed personally.
Features of Labuan LLP
Labuan LLP |
Corporate Details |
General |
|
|
LLP |
|
Yes |
|
No |
|
4 weeks |
|
Yes |
|
No |
Share capital or equivalent |
|
|
US$ |
|
EUR, USD, GBP |
|
None |
|
No |
|
No |
Directors |
|
|
Two |
|
No |
|
Yes |
|
Anywhere |
|
No |
Shareholders |
|
|
Two |
|
Yes |
|
Yes |
|
Anywhere |
Company Secretary |
|
|
No |
|
No |
Accounts |
|
|
Yes |
|
No |
|
Yes |
|
Yes |
Other |
|
|
Yes |
|
Yes |
- The reduced tax burden for the business: The members of the partnership are defined as self-employed, which means that the only tax to pay is an income tax as normal on their share of the profits. There is no corporation tax or capital gains to consider.
- Asset protection and estate planning tool: assets cannot be touched by creditors or any other claimant, and costly inheritance tax can be avoided through the use of a partnership model.
- Effective vehicle for professional practices, joint ventures, special purpose projects and more.
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.