Running UK Ltd company from Canada
#1
Forum Regular
Thread Starter
Joined: Jun 2011
Location: BC
Posts: 96
Running UK Ltd company from Canada
Is anyone doing this? I'm interested to hear about your experiences and pains. I've read you can remain a Director of a UK company if you are abroad.
How does it work with paperwork (stuff to sign) etc?
What are the other considerations?
How does it work with paperwork (stuff to sign) etc?
What are the other considerations?
#2
Re: Running UK Ltd company from Canada
Well you can be a director of a corporation pretty much anywhere, a director is basically that, they just put you down in that regard and it's registered with company house, maybe there is a check box for non-resident. I work with a Canadian company that owns a UK company, basically they took it over, got rid of the directors, put down a UK lawyer as the director and some muppet they drummed up from inside the company runs the UK operation (and he is a muppet, completely out of his depth) but he is not on the board.
Not sure why they did it that way, as they own 100% of the shares. I assume it must have been for liability reasons, can't see a tax reason as it made no difference in that regard.
Not sure why they did it that way, as they own 100% of the shares. I assume it must have been for liability reasons, can't see a tax reason as it made no difference in that regard.
#3
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: Running UK Ltd company from Canada
The company must have a registered office in the UK and many solicitors will provide this service. The overseas director can then use the solicitor's address as their UK mailing address.
One thing to watch out for is that if the CRA determine that the company's "mind and management" is resident in Canada they can deem the corporation to be resident in Canada and tax it accordingly.
The usual work around is to endure that all the company general meetings and "official" directors meetings are held in the UK. This might cost a bit in air fares.