Advice needed on setting up an investment firm

[pkj]

Greetings all,

its my first post. i have tried looking through the forums for a similar post but i was unable to locate a similar thread.

My spouse and I have a business model in mind under which we plan to invest in properties outside the UK. we would like to start a firm under which we would like to operate.

Questions for the audience here:

1. will i need to set up an investment firm or specifically a real estate investment firm?
2. do i need an accountant for the firm from day one?
3. there is the possibility that we are able to mobilize other investors. should I look at setting up a Venture capital firm? it will be a rather modest venture capital firms (!) but for legal and accounting purposes, will that classification help?
4. are there accountants who specialize in handling such business(s) especially from the point of view of overseas investment business. any advice? any recommendations?

I thank all of you in advance.

have a good day.

[northernladuk]

Did you notice this is a contractor site not an overseas property investing one?

but IMO get an accountant from day one. He can advise on costs for setting up and the like which you may miss later on so could possibly save you some pennies or stop you falling foul of something. If you don't take him on at least ask for advice...

The rest? Not a clue.

[pkj]

thanks a lot for your answer, appreciate it.

i know its a contractor site but also a site with people with vast skillset. apologies but its a compliment to the forum..

[Jessica@WhiteFieldTax]

Did you notice this is a contractor site not an overseas property investing one?

but IMO get an accountant from day one. He can advise on costs for setting up and the like which you may miss later on so could possibly save you some pennies or stop you falling foul of something. If you don't take him on at least ask for advice...

The rest? Not a clue.

He???? Ahm, Claire, Lisa, myself....

Anyways, sensible suggestions. Looking at the OP the points are beyond simple comment in a forum, they need more considered advice.

[TestMangler]

He???? Ahm, Claire, Lisa, myself....

Anyways, sensible suggestions. Looking at the OP the points are beyond simple comment in a forum, they need more expensive advice.

FTFY

[Jessica@WhiteFieldTax]

FTFY

No comment

[northernladuk]

He???? Ahm, Claire, Lisa, myself....

Anyways, sensible suggestions. Looking at the OP the points are beyond simple comment in a forum, they need more considered advice.

Christ knows why I keep saying that. Even my accountant is female :|

[Clare@InTouch]

Christ knows why I keep saying that. Even my accountant is female :|

That's OK, we're not offended. Honest

[BlasterBates]

Overseas property will mean tax implications where you'll be investing as well as in the UK.

You will probably have to set up a company in the country you want to invest and possibly an investment co in the UK.

Sounds complicated. Quite different from owning a private holiday home.

[pkj]

all,

thanks a lot for taking the time out to answer. i agree, the business set up is tricky. I am happy to do the admin and spend a little on it if needed.

any recommendations on what should be my starting point? if it's an accountancy firm, any recommendations? If not an accountancy firm, what other avenues could i explore?

thanks a lot and have a nice day.