FOUNDING & RUNNING A UK COMPANY FROM ABROAD?
Discussion
Evening ladies and gents,
I am a British guy running a small business here in central Europe. I am in the early stages of founding a new company in the UK.
Future customers will be from central Europe (which is why it could be complicated...).
Does anybody know what procedures need to be followed for this all to be completely legit? Anybody know an official list of legal requirements created by the UK government?
...or, would it be more about the domestic law of the country I permanently reside in?
Thanks in advance.
OJ
I am a British guy running a small business here in central Europe. I am in the early stages of founding a new company in the UK.
Future customers will be from central Europe (which is why it could be complicated...).
Does anybody know what procedures need to be followed for this all to be completely legit? Anybody know an official list of legal requirements created by the UK government?
...or, would it be more about the domestic law of the country I permanently reside in?
Thanks in advance.
OJ
A lot depends on the nature of the business and the flow of money.
We're associated with UK domiciled company that operates out of Bulgaria. This is a consulting business. The chap who set the company up is a Brit but has been living in BG since 2000 and set the company up prior to BG joining the EU. Clients are worldwide but mainly clustered around south East Europe, Former Soviet States, EU Neighbourhood region.
The company has to conform to all the same conditions that apply to any other business. Because the authorities view a business as a 'legal person' (forget the exact phrase) providing there is a UK registered office, all dues taxes are paid and money is paid into and from a UK bank account, the location of operation and that of principal officers is of no concern...as long as the HMRC know where you are.
The things that need attention are when you bring money from the business into the country where you live as a dividend.
Brexit may our may not have an impact on this. For example, at the moment, you can use money earned in the UK to pay the mortgage in a house you are living in in any EU country in the same way you would if you lived in the UK. One would like to think this will remain but who knows?
If you're manufacturing or selling physical goods requiring the regular cross-border movement of money, then things are likely to get more 'sticky' regardless of Brexit.
If your business is technically exporting from the UK then the Department of International Trade are normally very helpful on providing advice. If you are near a UK Embassy or Consulate, they will have a trade desk and would be worth your while speaking to them.
We're associated with UK domiciled company that operates out of Bulgaria. This is a consulting business. The chap who set the company up is a Brit but has been living in BG since 2000 and set the company up prior to BG joining the EU. Clients are worldwide but mainly clustered around south East Europe, Former Soviet States, EU Neighbourhood region.
The company has to conform to all the same conditions that apply to any other business. Because the authorities view a business as a 'legal person' (forget the exact phrase) providing there is a UK registered office, all dues taxes are paid and money is paid into and from a UK bank account, the location of operation and that of principal officers is of no concern...as long as the HMRC know where you are.
The things that need attention are when you bring money from the business into the country where you live as a dividend.
Brexit may our may not have an impact on this. For example, at the moment, you can use money earned in the UK to pay the mortgage in a house you are living in in any EU country in the same way you would if you lived in the UK. One would like to think this will remain but who knows?
If you're manufacturing or selling physical goods requiring the regular cross-border movement of money, then things are likely to get more 'sticky' regardless of Brexit.
If your business is technically exporting from the UK then the Department of International Trade are normally very helpful on providing advice. If you are near a UK Embassy or Consulate, they will have a trade desk and would be worth your while speaking to them.
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