Non UK resident inheriting a business

[LJBchef]

I am looking for any information that could help me navigate what might be a tricky situation.
I am from NZ and am currently residing and working in Ireland. My Auntie (my deceased Uncles wife) owns properties and 2 businesses in London. Since my Uncles passing management and general running of businesses is falling behind a bit.
There has been discussions about taking me into the fold in London and helping with the management and running of her affairs. But legally I can't just move there and help.
However looking into the gifting laws of the UK it seems that she could gift me one of the businesses.
This would then allow me to move to London take over the business and operate as I see fit.
My queries around this pertain to
1: Is this a legal way of transferring a business
2: Can I, as a non resident, receive the business and live in the UK legally
3: Could I alter the structure of the business and offer my services to other businesses (eg. sub contract/hands on work/consultancy)
4: Would the business that is gifted bring with it any debts business or personal
5: Has anyone seen or dealt with a situation like this before

Any information about any of the points above will be greatly appreciated as will any advice about this matter that I am overlooking.

 

[ethical PR]

I am looking for any information that could help me navigate what might be a tricky situation.
I am from NZ and am currently residing and working in Ireland. My Auntie (my deceased Uncles wife) owns properties and 2 businesses in London. Since my Uncles passing management and general running of businesses is falling behind a bit.
There has been discussions about taking me into the fold in London and helping with the management and running of her affairs. But legally I can't just move there and help.
However looking into the gifting laws of the UK it seems that she could gift me one of the businesses.
This would then allow me to move to London take over the business and operate as I see fit.
My queries around this pertain to
1: Is this a legal way of transferring a business
2: Can I, as a non resident, receive the business and live in the UK legally
3: Could I alter the structure of the business and offer my services to other businesses (eg. sub contract/hands on work/consultancy)
4: Would the business that is gifted bring with it any debts business or personal
5: Has anyone seen or dealt with a situation like this before

Any information about any of the points above will be greatly appreciated as will any advice about this matter that I am overlooking.

Ask a solicitor.

Your aunt would be ill advised to gift you her business to run it as you see fit. She should get independent legal advice.

Why are you best placed to run these businesses ?

If you had run a business before you would know you would take on any liabilities.

 

[Socio South West]

My understanding of visas etc is that NZ residents can visit on holiday for up to 6 months on a visa waiver, but to work or study you will need a visa.
Whilst I guess you could visit your aunt and develop this suggestion easily enough visa free, if the scheme goes ahead you should get a visa.
(on the other hand you could get a tatty inflatable boat at Dun Laoghaire and start paddling...... )

Nothing wrong with gifting a business, but wise to make sure it is all done with a clear legal agreement. This would also clarify what liabilities and assets you would be agreeing to take over.

Once you have established control of the business, you can do what you wish in terms of sub contract, hands on, consultancy - you will be in charge of all aspects.

 

[fisicx]

@LJBchef - what sort of business is this? Do you want to own/run the business? Do you have experience of running this type of business?

Whilst the gift may be well meaning it could easily become an unwelcome burden.