Company & director emigrating

[JayM]

Hoping there is a company/tax specialist here that can advise, as Googling is not returning anything useful.

Scenario: PTY LTD company owned and run by single managing director, who wishes to relocate overseas (and will therefore become non resident).

How does this work in terms of taxation? Can the owner/director remain such after emigration? Or will it be deemed that the company has been disposed of? Is it possible for the company legal entity to move to another country as well?

 

[mc721221]

Which county are you moving too?

 

[JayM]

Which county are you moving too?

UK.

 

[ToxicBunny]

To move the company to another country, you would probably need to wind it up here and start a new one over there...

If its a company with employees etc... then I don't see why you can't hold all the shares etc even if you're overseas.

 

[JayM]

To move the company to another country, you would probably need to wind it up here and start a new one over there...

If its a company with employees etc... then I don't see why you can't hold all the shares etc even if you're overseas.

Problem is the company has assets (in the UK) and it's difficult to make them "disappear" without paying tax.

 

[HavocXphere]

It can stay as is. There is afaik no requirement that a company must have ZA directors.

Someone will have to sort out the tax on both sides though.

He will get taxed by HMRC on everything & use DTAs where he is also paying ZA tax (So probably directors remuneration). The company will just continue paying ZA tax.

 

[mc721221]

I have more than one company in ZA and one in the UK. Live in the UK.

If you have any specific questions them you are welcome to PM me.