HiI'm looking to hear from any British expats now living and resident in Italy, that have a UK based business.I'm an Italian resident, and have just setup a new business in the UK.
Many thanks for your comments. The reason I chose the UK is because that's where I'm from. Know the system well, and it's an efficient and effective system comparatively speaking. thanks for the suggestin of your advisor... Yes the 'freelance' route is an option, but it's not an entirely robust solution for us. I think it could work initially, but I want my ducks to be in a row on this business as we already have potential investors talking to us, and I don't want any grey areas that could be flagged under due diligence reviews. many thanks for your thoughts
Hi The business is already setup. Software and online services so all virtual for now. Launch product late February. The questions really relate to how we deal with growth. Yes we are a tech business so we can operate 'virtually', but up to a point. My business partner is based in Sweden and we contract people from all over the world already. Works ok. More problematic is if and when we need to take people on more permanently. Again, one or two people could perhaps work remotely, and we could reconnect every few weeks physically - particularly because to satisfy the Italian authorities that the business is UK based only, we need to show that not only important decisions are 'made' in the UK, but also that those decisions are 'executed' there also. I should mention that this is an important consideration because I, as the MD and majority shareholder, being an Italian resident, would need to register this activity. Difficult to map out our growth path exactly. The considerations are twofold - fiscal and tax jurisdiction and then practical logistics. Interested I hear both perspectives... Thanks
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Many thanks for your comments. The reason I chose the UK is because that's where I'm from. Know the system well, and it's an efficient and effective system comparatively speaking. thanks for the suggestin of your advisor... Yes the 'freelance' route is an option, but it's not an entirely robust solution for us. I think it could work initially, but I want my ducks to be in a row on this business as we already have potential investors talking to us, and I don't want any grey areas that could be flagged under due diligence reviews. many thanks for your thoughts
Hi The business is already setup. Software and online services so all virtual for now. Launch product late February. The questions really relate to how we deal with growth. Yes we are a tech business so we can operate 'virtually', but up to a point. My business partner is based in Sweden and we contract people from all over the world already. Works ok. More problematic is if and when we need to take people on more permanently. Again, one or two people could perhaps work remotely, and we could reconnect every few weeks physically - particularly because to satisfy the Italian authorities that the business is UK based only, we need to show that not only important decisions are 'made' in the UK, but also that those decisions are 'executed' there also. I should mention that this is an important consideration because I, as the MD and majority shareholder, being an Italian resident, would need to register this activity. Difficult to map out our growth path exactly. The considerations are twofold - fiscal and tax jurisdiction and then practical logistics. Interested I hear both perspectives... Thanks