give USA resident shares in UK company

can I give My USA business partner shares in my UK PLC?

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Is it the same process to give a USA citizen and resident shares in a PLC?

Replies (5)

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paddle steamer
By DJKL
27th Jan 2024 16:39

The giving may be an issue, what valuation basis is to be used?

A USA shareholder could create issues with any UK bank that the company has accounts with, they may run in to ML issues.

I doubt it is a PLC but if it is some paid for advice is very advisable which is also the case even if it is merely a UK limited company.

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stonks
By WinterDragon
27th Jan 2024 16:41

Yes.

What the consequences might be I have absolutely no idea. Probably a question to ask your accountant who will know and understand your affairs.

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By FactChecker
27th Jan 2024 18:09

I do wish people would stop referring to "my UK PLC" or "my company".

Leaving aside that the *ability* (the 'can I' bit here) may get dramatically different answers depending on structure & type of shares plus the make up of shareholding(s) ... well I could go on, but just lost interest!

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By Montrose
27th Jan 2024 18:35

Initial thought. Holdover relief for CGT is not available for a gift to a non resident.

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By David Treitel
28th Jan 2024 08:59

One would investigate reporting/ tax issues in the US such as Form 3520, FBAR, CFC, SubPart F, GILTI, PFIC and FATCA. The existing accountant is the best place to start the research.

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