Aspen Trust

General Information

• Type of Entity - Private Limited Company (LTD).
• Legislation - The Companies Act 1985 and 1989.
• Company name - The name must indicate its status by using the word ‘Limited’ or its abbreviation ‘Ltd’.
• Time-scale for incorporation - 15 to 20 days.
• Disclosure of beneficial owners is NOT a requirement.
• Double tax treaties currently over 100 countries worldwide. 
• Ready-made companies are available.
• Money laundering legislation is in existence.

Local Requirements

• Registered Office and Registered Agent must be maintained.
• Company Secretary is NOT required.
• Public recording of shareholders, directors, must be maintained but anonymity is retained through nominees.
• Accounts must be audited and filed with the Companies House, but exceptions granted for small companies.

Corporate Requirements

• Minimum number of shareholders- One (1). May be natural person or body corporate that may reside anywhere in the world. 
• Minimum number of directors - One (1). May be natural person or body corporate that may reside anywhere in the world. 
• Minimum capital requirement - None.
• Standard Authorised Capital - GBP£2,000.
• Bearer shares are NOT permitted

Annual Requirements

• Annual return and annual statutory meetings are required.
• Statutory accounting is required.
• Annual government registration fee - None, but an annual return fee of GBP£15.
• Taxation – currently levied between 19% on profits between GBP£50,000 to GBP£300,000 and a tax rate of 30% is levied on profits above GBP£1,500,000.