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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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What is the best business entity type - both legally and financially

Resolved Question:

What is the best business entity type - both legally and financially (taxation) for two people to register in the UK given the following circumstances?
- They want a 50/50 split of profits
- One person is a British national
- One person is American, a resident of the UK, and has a diplomatic visa that does not permit employment or self-employment within the UK. The American wants to obtain a UK visa that will put them on a path to residency and has been advised to be an investor-shareholder and Director to remain compliant with the terms of their existing visa by allowing them to continue their government work and only apply for a different visa category when the company is profitable enough to quit their government job.
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

A limited company would be the best entity to operate as. I would suggest that you enter into a shareholders agreement with your business partner.
Example here


http://www.formacompany.com/en/uk/uk-shareholders-agreement/uk-shareholders-agreement-long

Hope this helps
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