Owning a company in the United Kingdom is a sign of certain respectability, since this jurisdiction, while offering certain advantages for the companies who deal with international transactions, is also one of the most developed and influential economies in the world. Every private limited liability company incorporated in UK must have at least one shareholder and limited liability partnerships must have two designated members at all time. Private company requires one director. Company secretary is advisable. Company secretary may be corporate or individual. Director and Secretary can be of any nationality and there is no requirement for them to reside in UK. Registered office must be in the UK. As for the Annual returns filing fee it is £15. It can reach £30 if not filing online. Tax rates regarding annual turnover do vary from 21% to 29,75%. The annual return and the disclosure of profits are required. Accounts for private companies must be filed within nine months of the year end. Small groups are exempted from preparing consolidated accounts. No exchange control or other financial control is imposed. Dormant and certain “small” and “medium” sized LLPs may prepare and file abbreviated accounts with the Registrar of Companies. The limited liability partnership itself will not be liable for taxation on profits or gains arising within the partnership, but the profits or gains will be assessed to tax separately on the individual partners. Annual shareholders meeting can be held anywhere in the world and private companies can opt out from it.