UK Business Purchase
#1
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Joined: Mar 2013
Posts: 10
UK Business Purchase
Hi all,
I recently missed out on the H1-B visa lottery and have been investigating all the other options. None of the other visa options fit but the company in the US have expressed an interest in purchasing my UK business and employing me as a Director to run the UK side.
I would need to work from time to time in the US and my question is how soon could I visit the US on a business trip for them and what is the maximum length of time I am allowed to remain in the US on business?
Thanks
Gareth
I recently missed out on the H1-B visa lottery and have been investigating all the other options. None of the other visa options fit but the company in the US have expressed an interest in purchasing my UK business and employing me as a Director to run the UK side.
I would need to work from time to time in the US and my question is how soon could I visit the US on a business trip for them and what is the maximum length of time I am allowed to remain in the US on business?
Thanks
Gareth
#2
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Joined: Aug 2002
Location: Kentucky
Posts: 38,865
Re: UK Business Purchase
Ian
#3
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Joined: Mar 2013
Posts: 10
Re: UK Business Purchase
I read on an immigration site that I can'r receive a salary from a US source but would my business once sold not still be a UK business and therefore able to pay me a wage?
#4
Re: UK Business Purchase
Is your UK business a sole proprietorship or is it incorporated? If it's incorporated are you planning to sell the shares to the US company or have the corporation sell the business assets to the US corporation. Is the US company going to use a UK holding company? There are numerous permutations as to what is possible, and depending on which sale/acquisition method is used there may be significantly different tax consequences, and I'd strongly recommend that you get personal advice from an accountant familar with the tax consequences of business sales/ acquisitions.
In short if you sell the shares in your (incorporated) business to the US company, and/or the US company uses a UK holding company, you will still work for a "UK business", assuming you are paid through that business.
Last edited by Pulaski; Jun 15th 2014 at 5:10 pm.
#5
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Joined: Mar 2013
Posts: 10
Re: UK Business Purchase
Yes, my business is Ltd and I would sell the entire holding to the US company. My accountant maybe able to advise on the best option.
In essence then, I would remain an employee of a UK business that is owned by a US company who "pays the bills". If my new US employer requires me to do business in the US then I could do so through the visa waiver program. Does that make sense?
In essence then, I would remain an employee of a UK business that is owned by a US company who "pays the bills". If my new US employer requires me to do business in the US then I could do so through the visa waiver program. Does that make sense?