US Company set up and accounts advice

[JamieBGP]

Hi,
I have a US based business partner and we are looking to set up a company together. We are looking for advice as to whether to set-up over here in the UK or across the pond. We trade with both US and UK based partners but are looking for the best solution when it comes to company construction as well as the ongoing tax liabilities as well as forms required when co-owning a business in either country as a foreign owner. In the US we are looking at either a C Corp or LLC, over here a limited company. Any advice from those who have done this or anyone who can help us achieve the best results would be much appreciated.
Thanks
J

 

[Frank the Insurance guy]

You really need professional accountancy (and legal) advice.

From an Insurance perspective - My advise is to consider which country you will be trading more with and set up the company there. Especially if the majority of the income will be from the US, as trying to get insurance cover in the UK for a company that has 50%+ turnover from the US is not easy!

You also need to consider your potential customers - I know of some UK client's that have ended up setting of a 2nd US LLC company as their US customer refused to enter into contracts with a business outside the USA!

 

[JamieBGP]

Thanks Frank, we deal predominately with the US so looks like setting up there seems preferable. Its about finding the right accountancy and legal partner to advise now.

You really need professional accountancy (and legal) advice.

From an Insurance perspective - My advise is to consider which country you will be trading more with and set up the company there. Especially if the majority of the income will be from the US, as trying to get insurance cover in the UK for a company that has 50%+ turnover from the US is not easy!

You also need to consider your potential customers - I know of some UK client's that have ended up setting of a 2nd US LLC company as their US customer refused to enter into contracts with a business outside the USA!

 

[Frank the Insurance guy]

I know some client's have used https://www.vistra.com/ - they are accountants but can also provide operational support all over the world.

They are a global company, with offices in the UK and USA, so can cover both bases. I'm sure they will have access to local legal advisors too.

Just not sure how costly they are.