Scottish Ltd Partnerships (SLPs)

A Scottish Limited Partnership (SLP) must have its registered office in Scotland, as opposed to England or Wales as in a normal LP.  Scotland is part of the EU so all the Community advantages are available.  An SLP offers the following benefits:

1.  An SLP has a distinct legal personality of its own, quite apart from that of its constituent partners.  It can therefore sign contracts, sue and be sued, own assets, raise finance and provide security and collateral unlike a LP registered in England and Wales.

2.  HM Revenue & Customs can offer a VAT registration number in the name of the SLP itself which they cannot do for an English or Welsh registered LP.

3.  Provided the partners of the SLP are resident outside the UK and there is no UK source income nor UK assets, the SLP is totally “tax transparent” in the UK.

4.  The legal requirement that limited partners (the investors) in a SLP cannot take part in management activities makes the SLP an ideal vehicle for  multi-party investor structures, where the “general” partner manages the LP.

5.  e-Commerce business:  The SLP is also ideal for conducting e-commerce business as it meets credit card merchant authorisation requirements for EU registration without the requirement to file accounts if properly structured.

6.  Bank accounts:  UK bank accounts can be opened in the name of the SLP and it can be used as a “trading” vehicle for trading goods and services outside the UK.  The SLP is an ideal entity for receiving consulting fees, commissions and other service income or making payments to suppliers.

7.  Asset “holding” vehicle:  An SLP may also be used as a vehicle for holding assets such as shares in other companies, real estate and other assets.

A SLP may be formed with just £1 capital contribution by each partner.  There must be a minimum of 2 partners.  The partners may be non-UK resident companies or individuals.

Many groups prefer to use Scottish Limited Partnerships as alternatives to offshore companies for asset holding and particularly trading purposes.  RKG Consulting can set up SLPs for you quickly, cost-effectively and can manage these entities efficiently on your behalf.  Please contact us for further information regarding SLPs.


RKG Consulting provides tax, immigration and accounting solutions. Our principal adviser is a "Chartered Tax Adviser" and is also an OISC-licensed immigration practitioner. We can provide a seamless service incorporating both tax and immigration solutions. If you have any queries, please feel free to contact us by telephone: +44 77 66 828 851
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