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Rakhi Vasavada
Rakhi Vasavada , Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4420
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I,m looking for both UK and US accountants for related questions.

Resolved Question:

I,m looking for both UK and US
accountants for related questions. With a friend I'm thinking of startling a home based meal service in the UK where people order by phone,we cook at home and deliver. There's a question of whether
to set up a Ltd company or an
LLP to safeguard our other asets in case things go bad.
What are the different characteristics of these two set ups?
The related US question is
that I'm American. What possible complications could
arise,being an American and starting a Ltd company or an
LLP?
Submitted: 5 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 5 years ago.

Dear Friend,

 

If your business is on a small scale, LLP would be more preferable as it can be started with minimum of 2 members. All of the members enjoy limited liability and as you rightly say, the liability is limited to the extent of the amount invested. You will have all the features / advantages for your reference at http://www.ukincorp.co.uk/s-5-uk-limited-liability-partnership-formation.html and so, I am not repeating here.


The corporation structure will not give you more benefits excepts relative easy access to credit and else. Refer http://www.ukincorp.co.uk/s-46-uk-company-formation-benefits.html However, looking at your profile, LLP structure should suffice.

 

There should be no complications of you being an American starting a business in UK.

 

I hope this would help...

Warm Regards,

Customer: replied 5 years ago.

 

 

Thank you for your answer,adequate for the UK side of things,and certainly I'm satisfied from that end;but I wonder whether you could contact me with a US specialist

as there may be possible complications in forming a foreign(from the US standpoint)

company. Obviously,I'll need to pay both you and the US adviser.

Expert:  Rakhi Vasavada replied 5 years ago.

Dear Friend,

 

In that case, I shall opt out so that other expert can assist you with.

 

Warm Regards,

Customer: replied 5 years ago.

 

 

As I uderstand,you don't have US knowledge on the subject,but I feel I need to pay you for your help on the UK side,so perhaps you could suggest a price.

.

Expert:  Rakhi Vasavada replied 5 years ago.

Dear Friend,

 

Thank you. You can do so by accepting this answer.

Warm Regards,

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