Adding a foreign shareholder

[northernladuk]

Without saying WHY you want to do this, and on what basis, no-one can answer your question. The WHAT you are doing could either be classed as avoidance (legal) or evasion (illegal) depending on the WHY.

So, what is the bigger picture here? Does the person already own the shares? How is/was the transfer of shares done? Was it a gift? Did they pay for them? Were the shares in exchange for something else (a non-financial transaction)?

I have a feeling this is one those threads where the OP is looking for an answer and he's going to do it anyway.

[Lance]

So what does your business gain from having this additional shareholder, taking funds out of the business? Are they putting in lots of capital or providing expertise that your company needs to grow?

Why do you want to give your money away like that? Withdrawing money via dividends comes with tax benefits, to gain an unfair advantage using dividends incorrectly to meet an end which pays less tax is evasion. Like all proceeds, they exist legally but abuse them and they become a problem.

Without saying WHY you want to do this, and on what basis, no-one can answer your question. The WHAT you are doing could either be classed as avoidance (legal) or evasion (illegal) depending on the WHY.

So, what is the bigger picture here? Does the person already own the shares? How is/was the transfer of shares done? Was it a gift? Did they pay for them? Were the shares in exchange for something else (a non-financial transaction)?

money laundering????

[northernladuk]

money laundering????

Maybe he's one of those nice philatelistic or whatever type people that live giving their money away to good causes and he's actually saving starving children in war torn africa. You'll feel bad calling him a money launderer if that's the case... BIDI.

[GhostofTarbera]

Thanks! the person is not my spouse, family member, or remotely related to me, nor are they in any other business with me, or in any business remotely connected or benefiting directly or indirectly, they don't have another business or company.

I cannot access the money at all in any way directly, indirectly, remotely, etc, and cannot gain anything from the use of that money in any other way

My goal is to have a shareholder who can legally withdraw dividends without doing anything even slightly dodgy or shady whatsoever

So fill in company house forms to make Mr Tarax Dodger (lets call him) a director

Send form to whatever bank is holding your funds as presumably you have failed KYC + passport + utility bills + contact of employment

Bank will release funds to Mr Tarax dodger

Mr Tarax Dodger can then send you the funds

Top tip
Don’t send over £10K in one go, don’t use same bank to send funds




Sent from my iPhone using Contractor UK Forum

[SueEllen]

Maybe he's one of those nice philatelistic or whatever type people that live giving their money away to good causes and he's actually saving starving children in war torn africa. You'll feel bad calling him a money launderer if that's the case... BIDI.

Or it's a cult.

Or it's a terrorist organisation.

[ladymuck]

Or it's a cult.

Or it's a terrorist organisation.

Or a terrorist cult organisation

[wattaj]

Or a terrorist cult organisation

Now, now, now... could just be a member of the Conservative Party.

[LondonManc]

Now, now, now... could just be a member of the Conservative Party.

Sounds more like Antifa to me.

In all seriousness, you may be breaching the terms and conditions of your contract if you are not in full control of your limited co.

[kazh]

So what does your business gain from having this additional shareholder, taking funds out of the business? Are they putting in lots of capital or providing expertise that your company needs to grow?

business doesn't gain anything at all, the shareholder is not putting in or has out in any capital or has or will provide any expertise etc
I just want the shareholder to have money to use how they please and I have no idea how they will use it

[kazh]

Why do you want to give your money away like that? Withdrawing money via dividends comes with tax benefits, to gain an unfair advantage using dividends incorrectly to meet an end which pays less tax is evasion. Like all proceeds, they exist legally but abuse them and they become a problem.

I just want the shareholder to have money to use how they please and I have no idea how they will use it, they are a friend.
I will never see the money again in any capacity or benefit in any way from its use or investment in any way, lets say the shareholder will blow the money on themselves for example