How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask SolicitorRM Your Own Question
SolicitorRM, Solicitor
Category: Property Law
Satisfied Customers: 6059
Experience:  Director and Principal Solicitor. UK
Type Your Property Law Question Here...
SolicitorRM is online now

I am from Ukraine we have family joint business in Ukraine

Customer Question

I am from Ukraine we have family joint business in Ukraine and Dubai . We have money in Dubai bank we have company in Dubai . Source of income is rent from my building and property and trading . So we want our family member to shift to uk as planning to open one branch in Uk also . I want to ask how to buy property in uk London how can buy . On the company how can transfer funds .
1. open new company as fund is belong head of the family as my father . Open company on his name . Who will be director
2. How to transfer money as Europe you make agreement with notary
3. How much taxes and stamp duty
4. If I buy next house with mortgage it is possible how much percent
5. Actually property buy and give on rent
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: I am Ukraine
JA: What steps have you taken so far?
Customer: nothing
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No
Submitted: 20 days ago.
Category: Property Law
Customer: replied 20 days ago.
If buy on the company name . The owner will be my father
Expert:  Virtual-mod replied 19 days ago.

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Expert:  SolicitorRM replied 17 days ago.

Hi thank you for contacting just answer,

Expert:  SolicitorRM replied 17 days ago.

I am a solicitor in England and Wales and looking at your question today for you.

Expert:  SolicitorRM replied 17 days ago.

You have asked a lot of questions and it would be best  to speak on the phone because a lot of it really needs you to have secured the right permits to run business in the uk first and to be able to get a mortgage despite of your funds,

Expert:  SolicitorRM replied 17 days ago.

Whereas you can register your company on the companies house register even before you come, you will need to have the appropriate investment visa to come and set up business here if you do not already have a permit. Whenever you buy a property there will be SDLT payable if the price is above the nil rate threshold and it’s cheaper for first time buyers if it’s not the company that is going to buy it,

On transfer of funds there are many ways to do this as long as you ensure declaration and your bank knowing if source otherwise monies get stopped for money laundering checks.
If you get call offer please accept as you have a lot you may still need to discuss,

Expert:  SolicitorRM replied 17 days ago.

Any follow up please do not hesitate to send your message. I am always glad to clarify anything. All the best.

Customer: replied 17 days ago.
I already give my visa for sole resp. Visa maybe next month . My question was if before coming to Uk . I should have house . So if buy on personal name . And company name what is difference . Because future I want to buy more house
Expert:  SolicitorRM replied 17 days ago.

Hi, well the difference is that the title would be registered in the company name if you pay via the business and in your personal name if you pay for it yourself. Both pay stamp duty land tax and on disposal capital gains tax and for the company corporation tax too. You would register in compnay name if you do not want any personal liabilities affecting your properties.

Customer: replied 16 days ago.
Actually the money belong to my father . He have in his business account and personal account . I don’t know the rule some lawyers tell me buy on company stamp duty is 15% and buy on personal name 5% . Before I decide to buy on company name because on company name I will more property and give on rent . So on the company I can show the expense . Register company in Uk is cheap around 100 pound . Money sources of income is rent from property and my saving . For the first buyer in Uk it is to easy to mortages . If buy on my father name house and he give me power atternony to take mortages on second house for myself
Expert:  SolicitorRM replied 16 days ago.

Hi, it does not cost anything to register a company in the UK if you do it yourself. Mortgage is not easy for first time buyer, it is easy if you have good credit score and significant deposit. If you have power of attorney for your father then the property is not yours it is your father's. If you are looking to buy properties for business and not to live in then you should do it as a company  - incorporated or not incorporated will have same effect.