Hi,
I mean for unincorporated body a simple "association" between two or more persons with a written agreement. Like a club or charitable association so to speak.
I would like to know if in your opinion can it be possibile to use as LLP members two unincorporated body or a corporate body and a unincorporated body. In my specific case all members will be non resident in UK.
Thank you in advance for your opinion.
Replies (3)
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I don't think that your unincorporated body is a legal person (at least in England and Wales) . If you tried to do this , I think that you run the risk of making the unicorporated body a partnership and having its members taxed on the income from the LLP.
It looks to me as if you may be trying to translate a familiar structure from your client's home country into a UK environment . This never works because the rules won't be the same.
You need to get your client to take a step back, write down on one side of paper what they want to do and then you can recommend a UK structure for the venture.
The legislation in LLPA 2000 implies that only an individual, a corporation or a scottish firm can be a member of an LLP. I don't see how an unincorporated body setup in the IOM can be any of those things, so it can't be a member.