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Can one have an American based company?


Fawnette

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Can one have an American based company while a resident in France and export French goods to that American based company?  Would this go against the statement that we had to sign when applying for our Visas that we "would not seek employment while living in France."  We would like to have the company in our name and have our son run it for us out of Memphis, Tennessee.

Thanks!

Lyn McIntosh-Sherwood, Winter Park, FL, USA

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[quote user=" Aly "]

Is "employment" not different to being self employed?[/quote]

Not when it comes to the paper she signed stating she would not work in France.  The visa she has is meant for retired persons, or those with enough income that they would not need a job in France. 

There is altogether a different visa for those wishing to start their own business.

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I make no claims to be an expert in these matters - but I feel the answers may not be quite as definitive as suggested.  In most juristrictions a limited/incorporated company is treated as a seperate fiscal entity to its owners/stock holders.

Simply owning a company (or a percentage of a company) doesn't mean you are employed by that company (whether you own 100 microsoft shares or 100% of "Fawnettes Import Inc").  Provided you don't work for that company i.e. are personally employed or draw a salary, or work supplying that company, I would suggest that you would not be in contrevention of your visa.  Your son would work for the company - employ the staff, manage the finances, find customers and suppliers etc - all you have done has provide the start up capital. To be extra safe start all this up before leaving the shores of the US.

You would of course be free to accept dividend income (investment income) as a share holder.  This would have to be declared on a tax form if you become resident but should not pose a problem.

These things are nearly always more complicated than they first appear - get specialist advice - and treat forum advice (mine included) as you would well meaning ramblings from mates down the pub.

Best of luck,

Ian

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You are quite right Ian, it is never as simple as that....

However, the issue is about working, not earning. The OP's visa does not permit them to work - even for free - for anyone, including themselves or a relative. So, their son could pay them an allowance, but they couldn't do anything for it.

If they couldn't contribute anything (other than capital) to the business, I can't see how it would work - surely they would be better off getting an approriate visa (not difficult if you are importing a business) or living off the capital.

 

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I'm sure in reality you are quite correct Nick - there did seem to be a hint of "working" for the company in the original post (albeit trying to do it unseen by French authorities!) by aiding exports to the US - this of course would be go against the visas rules.

I posted as if the boot was on the other foot and I planned to live in the US for a period of time and signed a "No Work" visa.  I own an actively trading UK limited company - quite conceivably that company could continue to run in my absence (it is entirely European in its sphere of operation). And while I may choose to fly back to the UK for the odd board meeting I would otherwise have nothing to do with it, other than own it and draw a dividend income from its profits.  I am fairly confident that under those circumstances I wouldn't be breaking my hypothetical visa rules.

Have a great day,

Ian

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