Adding a foreign shareholder Adding a foreign shareholder - Page 3
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  1. #21

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    Quote Originally Posted by Paralytic View Post
    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 understand I guess the WHY would be: 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 guess the closest description would be a gift to friend scenario?

    no the person doesn't already own the shares, not sure how the transfer will be done, I guess bank transfer? they didn't pay for them, the shares are/were not in exchange for something else

  2. #22

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    Quote Originally Posted by northernladuk View Post
    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.
    lol, no I'm hesitating, if there is any doubt I will not do it, I don't want to have the doubt that what I am doing may be dodgy, even if there is some doubt, I will not go ahead

  3. #23

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    Quote Originally Posted by Lance View Post
    money laundering????
    No I will not see the money again, or any product, or benefit from it's use, For all I know the shareholder will use the money on themselves for whatever they want

  4. #24

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    Quote Originally Posted by northernladuk View Post
    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.
    lol I'm not that nice, I want the shareholder to have money to do with it as they see fit, but they are just a person and not a charity or starving

  5. #25

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    Quote Originally Posted by wattaj View Post
    Now, now, now... could just be a member of the Conservative Party.
    lol no not cult, or terrorist organization or political party, I guess the best way to say it is gift to friend? but the friend is a shareholder and the gift is shares

  6. #26

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    Are they paying for the shares, either in cash or some other skill or service with a monitory value, or are you just giving them a gift?

    If it’s a gift can you explain (to HMRC not us, although for tulips and giggles we’d like to know) why you are giving something away for free to someone who is not a spouse?
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

    ― Marcus Aurelius

  7. #27

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    Why do you want to give your money away to someone?
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  8. #28

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    Quote Originally Posted by kazh View Post
    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
    It doesn't matter - they're just trolling you.. Very first reply (by Lance) tells it outright. Nobody has to justify any reasoning behind wealth transfer (as payment for any personal matter, equity raise, etc.) unless you're on a watch list (FCA/NCA/Crime/Unexplained Wealth, Serious Fraud Office, etc. sometimes it might fall in a scope of MAR {FCA - Market Abuse Regulations} if trade occurred during "closed period" but it's definitely not your case {none of above are})
    Country of residence might matter though, there're some AML concepts and related transparency/traceability of beneficiaries, should be fine if another party resides somewhere in western world (US/Germany/France/Austria, etc.), might be a bit more complicated if person is included in specific lists (terrorism, sanctions incl. political reasons, etc.) or some countries might not be favored by UK authorities (temporarily or over a longer-term) - although technically companies house is full of companies with PSC' (Persons with significant control) who are residing in such countries.
    It might be another issue for your second shareholder how to handle (declare and pay) their taxes, with most (or all?) of EU members we've DTA (double taxation agreements). With my Swiss income I had to present declaration of paid swiss tax (obtained there) to HMRS along with SA to avoid being taxed in both at full rate (ended up paying only small difference between CH/UK rates)

  9. #29

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    Default Adding a foreign shareholder

    Quote Originally Posted by Yuri F View Post
    It doesn't matter - they're just trolling you.. Very first reply (by Lance) tells it outright. Nobody has to justify any reasoning behind wealth transfer (as payment for any personal matter, equity raise, etc.) unless you're on a watch list (FCA/NCA/Crime/Unexplained Wealth, Serious Fraud Office, etc. sometimes it might fall in a scope of MAR {FCA - Market Abuse Regulations} if trade occurred during "closed period" but it's definitely not your case {none of above are})
    Country of residence might matter though, there're some AML concepts and related transparency/traceability of beneficiaries, should be fine if another party resides somewhere in western world (US/Germany/France/Austria, etc.), might be a bit more complicated if person is included in specific lists (terrorism, sanctions incl. political reasons, etc.) or some countries might not be favored by UK authorities (temporarily or over a longer-term) - although technically companies house is full of companies with PSC' (Persons with significant control) who are residing in such countries.
    It might be another issue for your second shareholder how to handle (declare and pay) their taxes, with most (or all?) of EU members we've DTA (double taxation agreements). With my Swiss income I had to present declaration of paid swiss tax (obtained there) to HMRS along with SA to avoid being taxed in both at full rate (ended up paying only small difference between CH/UK rates)
    That’s not actually true though. Transfer of wealth has repercussions. You don’t have to be on a watch list to get hit with an UWO for example.
    And there are tax implications in many jurisdictions outside the UK.

    The devil is in the detail and we don’t have the detail.

    On these sort of posts the OPs rarely share all the details (and rightly so) but don’t know enough to ask the correct question.

    So it’s not trolling. Just being argumentatively unhelpful. With some important questions and advice liberally smothered in sarcasm.
    See You Next Tuesday

  10. #30

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    Quote Originally Posted by Yuri F View Post
    It doesn't matter - they're just trolling you.. Very first reply (by Lance) tells it outright. Nobody has to justify any reasoning behind wealth transfer (as payment for any personal matter, equity raise, etc.) unless you're on a watch list (FCA/NCA/Crime/Unexplained Wealth, Serious Fraud Office, etc. sometimes it might fall in a scope of MAR {FCA - Market Abuse Regulations} if trade occurred during "closed period" but it's definitely not your case {none of above are})
    Country of residence might matter though, there're some AML concepts and related transparency/traceability of beneficiaries, should be fine if another party resides somewhere in western world (US/Germany/France/Austria, etc.), might be a bit more complicated if person is included in specific lists (terrorism, sanctions incl. political reasons, etc.) or some countries might not be favored by UK authorities (temporarily or over a longer-term) - although technically companies house is full of companies with PSC' (Persons with significant control) who are residing in such countries.
    It might be another issue for your second shareholder how to handle (declare and pay) their taxes, with most (or all?) of EU members we've DTA (double taxation agreements). With my Swiss income I had to present declaration of paid swiss tax (obtained there) to HMRS along with SA to avoid being taxed in both at full rate (ended up paying only small difference between CH/UK rates)
    And I thought this thread couldn't get any worse lol.
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