A Scotland LP company is a privately owned Limited Partnership with 2 or more persons or corporate bodies being the Partners/Members of the LP. At least one of the Partners in the LP must be nominated as “General Partner (i.e. “Managing Partner”). The Members may be natural persons or corporate bodies from any legal jurisdiction worldwide.
UK LTD. - limited liability company:
Non-Resident SLP” which Members are companies from tax-effective jurisdictions outside the European Community is commonly used for:
SLP companies with Members outside the UK and no business activities in the UK are not regarded as UK-taxable entities unless they elect to be so regarded. According to general UK tax procedures, the income of the SLP is treated as being the income of its Members, and therefore taxable in the Member’s countries of residence (usually the jurisdiction of incorporation, in the case of corporate Members), in the respective proportions to which the Members will benefit from the income.