UK LLP HELP

[aleksokubo]

Greetings, I have a question, 11 months ago I opened an LLP through the company FOSTERSWISS, and today I have no relationship with them.

I am a resident of Argentina, I do not have UK bank accounts, I only use wise and I do not have many movements.

One year is already in February and I don't know if I have to renew something so that the company remains active and is not dissolved in the UK.

I don't know what to do please help urgently

 

[Sols]

As long as you have control over the company, you can just move it another service provider. You control the company if you and your business partner/s are the partners of the LLP. If Fosterswiss have provided nominee members, it can be much more difficult but not impossibe to transfer.

In your previous thread, I mentioned Vistra, TMF, and Trident Trust. There are of course many others as well.

You might be able to do it with someone cheap like Companies Made Simple or RapidFormations. I have no experience moving companies to those two.

If you don't pay your annual renewal to Fosterswiss, they might notify the Companies House that the registered address isn't valid for your company anymore. That begins a process which ultimately leads to the company being struck off. But you will still have time to act. It usually takes a couple of weeks or months.

 

[aleksokubo]

Hello, I would like to ask you a question, help please

As you suggested, I made the change to UK Company Formation & Registrations | Your Company Formations, first changing the fiscal address and I asked for the new authentication code, it seems that the new address becomes effective 15 days after having declared it in companies house.

Today I receive an email from fosterswiss asking for 1800 euros if they were not going to dissolve the company, your company tells me that if they have the web filling code my company is compromised, I have written to companies house reporting the incident and I don't know what could happen.

Please help.
What can happen?
Thank you very much in advance for your answers.

 

[Sols]

I thought you said you don't have any relationship with Fosterswiss? If that's true, then they have no rights to require payment from you. Maybe it's just an automatic email. Contact them back and explain the situation.

Provided that they have no control over the company, there is nothing they can do now. Monitor your company (Find and update company information - GOV.UK) for any unexpected activity. If they try to fraudulently dissolve your company, you can stop the process if you notify the Companies House fast enough (usually 30 days, IIRC).

 

[aleksokubo]

Amigo, gracias por contestar, rompí todo vínculo con foster porque me prometieron cuentas bancarias y cosas que al final no me dieron, se aprovecharon de mi novedad e ignorancia en este tema.

Hoy entrando a casa de empresas veo que alguien pidió el código hace 3 días y no fui yo.

Estaré muy alerta, de hecho escribí a casa de empresas explicando todo para estar alerta ante cualquier eventualidad

 

[latindev]

Amigo, gracias por contestar, rompí todo vínculo con foster porque me prometieron cuentas bancarias y cosas que al final no me dieron, se aprovecharon de mi novedad e ignorancia en este tema.

Hoy entrando a casa de empresas veo que alguien pidió el código hace 3 días y no fui yo.

Estaré muy alerta, de hecho escribí a casa de empresas explicando todo para estar alerta ante cualquier eventualidad

So sad you were a victim of fosterswiss, they are really bad, not a full scam for sure but are pretty bad... Btw for someone in Argentina, there are better options than something in the UK but unfortunately it's possible they were the ones who suggested such setup. Also, spanish is not allowed so the mod will probably remove your comment

 

[aleksokubo]

Friend, thanks for answering, I broke all ties with foster because they promised me bank accounts and things that in the end they didn't give me, they took advantage of my newness and ignorance on this subject.

Today when I enter the company house I see that someone asked for the code 3 days ago and it wasn't me.

I will be very alert, in fact I wrote to companies explaining everything to be alert to any eventuality

Hello friend, like which options for Argentina please?

I told you I created a digital wallet under this domain creeperbit.com and I needed accounts in several countries, they recommended me to open an LLP, at the time I thought of MALTA, Lithuania, Estonia, Cyprus but at the time I did not have much information about it and looking for on the internet I touched with fosterswiss

 

[aleksokubo]

Hi, good morning:

Help please, I would like to know what annual documentation I have to present to Companies House each year for my LLP as a foreign owner, I do not have accounts in English banks or have clients in England, I only use wise and it is not a physical bank.

Out there they tell me a lot of things and it confuses me more.

From already thank you very much

 

[CALAY]

Hi, good morning:

Help please, I would like to know what annual documentation I have to present to Companies House each year for my LLP as a foreign owner, I do not have accounts in English banks or have clients in England, I only use wise and it is not a physical bank.

Out there they tell me a lot of things and it confuses me more.

From already thank you very much

Back to the basis:

-1- You should be listed as a ‘Person of Significant’ (PSC) control at Companies House. That will ALWAYS give you room to get the control of the LLP back. Now pay attention: an LLP can only be incorporated with 2 members so you’ll have to dig into how things were registered and where you legally stand with the other partner.
In all cases, It’s a CRIME to file a false declaration of PSC so just in case FOSTERSWISS did not do that, let me know.
I work with a badass lawyer in London who would eat them alive just for the fun of it.

-2- LLP needs to file every year statement with any changes + list of PSC AND annual financial statements.

-3- It doesn’t matter if the LLP does not have a bank account, if transactions were done in the name of the LLP, you cannot claim that the company is ‘dormant’ and will need to produce and file financial statements.

-4- LLP is tax transparent, so regardless of profit, you won’t be taxed at the company level (but you’re likely to have a personal tax liability in your country of residence).

Hope that help, send me a DM if you need more assistance.

 

[shizui04421]

As long as you have control over the company, you can just move it another service provider. You control the company if you and your business partner/s are the partners of the LLP. If Fosterswiss have provided nominee members, it can be much more difficult but not impossibe to transfer.

In your previous thread, I mentioned Vistra, TMF, and Trident Trust. There are of course many others as well.

You might be able to do it with someone cheap like Companies Made Simple or RapidFormations. I have no experience moving companies to those two.

If you don't pay your annual renewal to Fosterswiss, they might notify the Companies House that the registered address isn't valid for your company anymore. That begins a process which ultimately leads to the company being struck off. But you will still have time to act. It usually takes a couple of weeks or months.

I have a company in Hong Kong, me and my partner have the corrispective 50% and 50% of the shareolder but the person who made the company for us is on our sleek "organization" list and he is a standard user and his role is the " Company Admin ", should i worry about anything ? or do we have full control of our company ? Also we have no "Principal Activities" for our company, does it mean that we have no business nature?

Thank you for time and sorry for doin such questions

 

[Sols]

I have a company in Hong Kong, me and my partner have the corrispective 50% and 50% of the shareolder but the person who made the company for us is on our sleek "organization" list and he is a standard user and his role is the " Company Admin ", should i worry about anything ? or do we have full control of our company ?

Company Admin isn't an official role. If they are the company secretary, you have nothing to worry about. That just means they are responsible for filing paperwork with the government.

If they are a company director, they have powers. But so long as you control the voting powers of the company, you can at any point dismiss this director.

Also we have no "Principal Activities" for our company, does it mean that we have no business nature?

Sometimes it's good to stipulated principal activities in the company ordinances, but it's not always necessary. There is usually a clause in the articles of association stating that the company can do whatever lawful activity the board of directors decides.

 

[shizui04421]

Company Admin isn't an official role. If they are the company secretary, you have nothing to worry about. That just means they are responsible for filing paperwork with the government.

If they are a company director, they have powers. But so long as you control the voting powers of the company, you can at any point dismiss this director.


Sometimes it's good to stipulated principal activities in the company ordinances, but it's not always necessary. There is usually a clause in the articles of association stating that the company can do whatever lawful activity the board of directors decides.

Ah so basically if i want to change what i do with my company, i just need to contact the payment gateways and the bank that i am changing my business and i'm already fine, right? because for the hong kong state my company can do any work as long as a lawful activity

 

[Cryptohodler]

Greetings, I have a question, 11 months ago I opened an LLP through the company FOSTERSWISS, and today I have no relationship with them.

I am a resident of Argentina, I do not have UK bank accounts, I only use wise and I do not have many movements.

One year is already in February and I don't know if I have to renew something so that the company remains active and is not dissolved in the UK.

I don't know what to do please help urgently

Did wise.com actually open an account for your UK LLP ? I thought they only open for UK LTD company

 

[pfser]

Did wise.com actually open an account for your UK LLP ? I thought they only open for UK LTD company

As far as I know, LLPs are sometimes eligible for opening if their members are individuals or if they are domiciled in the European Union.