GSL / Offshore and International Law / Offshore zones / Western Europe / Scotland-LP / Review of Scotland-LP

Review of Scotland-LP

Service packages Review Legislation

Corporate info

Legal system
based on Anglo-Saxon common law
Types of entity
sole trader; full partnership (ordinary partnership); limited partnership; limited liability company (company limited by shares); company limited by guarantee; private unlimited company; public limited company (public limited company); unincorporated association.
Shelf companies permitted
Incorporation timescale for a new company
Company suffix
the name must necessarily contain the words "Limited Partnership"
Sensitive words
Cyrillic alphabet permitted in company name
Local registered office
Local registered agent
Information to be kept at the registered office
Seal required, type of seal
Redomiciliation (to, from) permitted
Your Consultant
Alexander Alekseev

Managing Partner of GSL Law & Consulting

Director and secretary

Minimum number of directors
the partnership is managed by the full partner or an appointed manager
Residency requirements for directors
Corporate directors permitted
Directors’ meetings/frequency/location
Disclosure to local agent
Disclosure to public
Company secretary required
Residency requirements for a secretary
Qualified secretary required
Corporate secretary permitted

Shareholder and beneficiary

Minimum number of shareholders
one limited partner and one unlimited partner
Residency requirements for shareholders
Corporate shareholder permitted
Disclosure to local agent
Disclosure to public
Beneficiary info disclosure to

Shares and share capital

Minimum authorized share capital
not installed
Minimum issued share capital
not installed
Minimum paid share capital
not installed
Authorized capital payment deadlines
not installed
Issued capital payment deadlines
not installed
Standard currency
Pound sterling
Standard authorized share capital
1 000
Standard par value of shares
Shares with no par value permitted
Bearer shares permitted


Personal tax
Min. rate for corporate tax
Corporate tax (in detail)
Income tax is not paid by the partnership. Instead, partners include the current income of the partnership in their share of their taxable profit / income, without waiting for the distribution of the partnership's income.
Capital gains tax
Capital gains tax. Details
VAT. Details
The standard VAT rate is 20%, reduced - 5%, zero -0%. Certain goods and services are exempt from VAT or are outside the UK VAT system.
Withholding tax
Other taxes
Exchange control
Government fee
Stamp duty


Requirement to prepare accounts
Requirement to file accounts
Publicly accessible accounts
Requirement to file Annual Return
Publicly accessible Annual Return
Audit required

General information shortly

North West of Europe
Total area
78.772 sq. km
5.438.000 (2018)
National currency
Pound sterling
Conditional reduction of currency
Against USD
Climate, average max and min t°
temperate oceanic climate; due to the warm Atlantic current, the Gulf Stream, temperatures in Scotland are higher than in countries on the same parallel, but lower than in other regions of Great Britain; the weather is extremely unstable .; in the coldest months of the year (January and February), the average temperature maximum is 5-7 ° C. In the warmest months (July and August) - 19 ° C
Time difference from Moscow
- 3 hours
Dialing code
State language
English, Scottish Gaelic, Anglo-Scottish
Ethnic groups
88% - Scots, 7% - British, 50 thousand people each. - Irish and Poles, 40 thousand people - Pakistanis, 20 thousand people each. - Chinese and Indians, 10 thousand people - immigrants from Africa
Literacy rate
99 %
Scotland is currently part of the United Kingdom of Great Britain and Northern Ireland. The first humans appeared in Scotland about 8 thousand years ago. The first permanent settlements appeared 6 thousand years ago. The written history of Scotland begins with the Roman conquest of Britain, when the territories of modern England and Wales were conquered, received the status of Roman provinces and began to be called Britain. Over the next centuries, the Kingdom of Scotland expanded to roughly the borders of modern Scotland. Towards the end of the Middle Ages, Scotland was divided into two cultural zones: the plains, whose inhabitants spoke the Anglo-Scottish language, and the highlands of Scotland, whose people used Gaelic. With the exception of the period of the English Commonwealth, Scotland remained a separate state, but at the same time there were significant conflicts between the monarch and Scottish Presbyterians over the form of church government. After the Glorious Revolution and the overthrow of the Catholic Jacob VII by William III and Mary II, Scotland briefly threatened to elect its own Protestant monarch, but under the threat of severing trade and transport ties by England, the Scottish Parliament, together with the English in 1707, adopted the Union Act. As a result of the unification, the Kingdom of Great Britain was formed. After the adoption of the Union Act, the Scottish Enlightenment and the Industrial Revolution, the country became a powerful European commercial, scientific and industrial center. Scotland in many ways occupies a unique position in the United Kingdom, which is associated with the history of its unification with England and participation in the work of the state parliament while maintaining its administrative and judicial system. And since the administrative and political systems of the two countries remained different, a reliable basis for the preservation of national forces in Scotland was created. Scotland has long been viewed by the central government as a region with low industrial potential and slow development. Foreign investments, mainly by North American and Japanese companies, as well as revenues from oil and gas production on the North Sea shelf, played a great role for Scotland in reorienting the economy. On September 18, 2014, a referendum was held on the independence of Scotland. 44.7% of those who voted for independence, 55.3% against.
Credit rating
Government type
republic; parliamentary democracy
Executive branch
Government of Scotland, consisting of the First Minister of Scotland, the Deputy First Minister of Scotland, 8 Cabinet Secretaries of Scotland and 10 Ministers of Scotland
Legislative branch
Parliament of Scotland, composed of 129 Members of Parliament elected by the people of Scotland, one of whom Parliament elects as Presiding Officer of the Scottish Parliament and two as Deputy
Judicial branch
Supreme Court, courts of appeal - sheriff's courts, courts of first instance - district courts, lower level of the judiciary - justices of the peace
3.7% (2018)
GDP per capita rank
24 (2013)
Corruption perceptions index rank
14 (2013)

Need a consultation from a specialist?