Branch or permanent establishment
Trading vehicles
As an alternative to setting up a branch, there are several different trading vehicles or business formats which are separate legal entities in their own right. The most common are limited liability companies and limited liability partnerships (LLPs).
Limited liability companies
A limited liability company can be set up under the Companies Act 2006 (2006 Act), which applies to companies registered in England and Wales, Scotland and Northern Ireland.
Other corporate options
In addition to companies limited by shares the 2006 Act provides for:
Directors’ duties and liabilities
Limited Liability Partnerships
Other partnership options
UK law also recognises various other forms of partnership in addition to that of an LLP. These include: