Whisky is considered the national Scottish drink. It falls under the category of "Geographically
Legislated Name" and is protected under UK, EU and World Trade Organisation law.
Fisheries and aquaculture are an important part of Scotland's sustained growth in economic prosperity. The industry provides employment for people living in the northern parts of the island.
Scotland accounts for about 8% of the UK financial market, making it the third largest regional centre for financial services exports in the UK.
Scotland has its own legal system and parliament, making it the most autonomous part of the United Kingdom after England.
choosing a country
choosing a bank
payment (by any method)
bank account opening
From all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth noting:
Under current Scottish law, it is possible to register your company for international business and investment in the following legal forms:
Limited Partnership (L.P.)
One of the main features of an LP is that there must be a minimum of 2 partners, one General Partner who is fully responsible for all the obligations of the partnership, managing the company; the other, the Limited Partner, is not involved in managing the LP and is only responsible for the size of its contribution to the partnership). Partners can be either legal entities or individuals.
Based on the analysis of the current legislation regulating the activities of business entities, the following can be highlighted with regards to the specifics of the process of registering your business:
The state has the following features for levying taxes and fees
Partnerships in Scotland may be exempt from tax if the profits are made outside the UK and the partners are not UK residents. If one of these conditions is violated, the company shall pay a tax of 19% on income to the UK budget in the normal course of business.
An important feature is that a limited partnership can become a VAT payer and, accordingly, can receive a VAT number. If your activity involves VAT, there are some requirements for obtaining this number. This is relevant, for example, for companies involved in exporting and importing goods within Europe.