Originally posted by Jessica@WhiteFieldTax
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Reply to: Company setup with foreign ownership
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Previously on "Company setup with foreign ownership"
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Originally posted by lilelvis2000 View Postoutstanding. Not unusual..my present Ltd. I only own 1%.
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Originally posted by lilelvis2000 View PostThe new company will be based and controlled in the UK (by me).
One of the owners is a foreign company - based in Canada.
New company be about 20% owned by the foreign company, and about 10% each me and another person.
Oh yes...LTD.
The Canadian owner of 50% will need to take advice in Canada about the taxation in Canada of dividend extraction from the company.
If you propose that your company remains controlled in the UK but trades in other jurisdictions then you will need to consider host country tax issues.
As a general principle, a overseas shareholder in a UK company is, by itself, not of great relevance to UK taxation. The issues are around extraction and repatriation of funds back to the controllers home country.
Clearly this a simple answer, on acts given, to a potentially complex question, and I would recommend that you seek advice from your own accountant.
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Originally posted by lilelvis2000 View Postoutstanding. Not unusual..my present Ltd. I only own 1%.
In fact of you current company you own 100%. Its just that only 1% is issued. No one owns the other 99% other than issuing them is in your gift.
I think I see what you are saying, effectively 4 shares in issue (or 40 or 400), 2 to overseas co, 1 you, 1 AN other.
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Originally posted by lilelvis2000 View PostThe new company will be based and controlled in the UK (by me).
One of the owners is a foreign company - based in Canada.
New company be about 20% owned by the foreign company, and about 10% each me and another person.
Oh yes...LTD.
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Originally posted by eek View Postand the other 60%?
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Originally posted by lilelvis2000 View PostThe new company will be based and controlled in the UK (by me).
One of the owners is a foreign company - based in Canada.
New company be about 20% owned by the foreign company, and about 10% each me and another person.
Oh yes...LTD.
Leave a comment:
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The new company will be based and controlled in the UK (by me).
One of the owners is a foreign company - based in Canada.
New company be about 20% owned by the foreign company, and about 10% each me and another person.
Oh yes...LTD.
Leave a comment:
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You need to clarify this a little.
Unless I've read it wrong at one stage you are asking about company with foreign ownership then you talk about a foreign company .
So first question, in which juristridtion are you setting the company up, and what legal constitution?
Next question, where will it be controlled from?
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Company setup with foreign ownership
I'm setting up a new company for some new technology that I want to introduce to the UK.
I'm setting this up with a foreign company which will want about 20% of the shares and at least one director. Plus there is one other person who is also foreign who wants a share. I'll have the remainder of outstanding shares, probably about 10%.
Any complications in this. And are there any online formation companies that can set this up.Tags: None
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