Home Forums Money matters Running a PTY LTD Company Abroad?

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  • #1000022
    Paradox
    Member
    • Total posts: 1

    Hello All!

    Really appreciate FlyingSolo/its forum and now have a question of my own that I cannot seem to find an answer to. I’m looking for insight and fundamentals before I talk to an accountant.

    I currently run a PTY LTD company here in Australia with clients across the globe.

    I’m looking to move to NYC for 2 years and as a result, will look for a corporate role over there. However, I plan to continue running my PTY LTD business while working a corporate role over in NYC.

    My question (and subsequent confusion) is:

    • Am I able to continue running a PTY LTD business as I typically would out of NYC for the couple years there? I’d ideally like to avoid closing the business and restructuring over in the States.
    • I’d imagine I’d continue working with an accountant to lodge my quarterly BAS while paying the aligned tax in both the US & Australia?

    If anyone has any sort of insight on this, it’d be greatly appreciated!

    #1222341
    Paul – FS Concierge
    Moderator
    • Total posts: 3,126

    Hi And Welcome to Flying Solo [USER=117074]@Paradox[/USER] .

    It is great to have you!

    Thank you for joining our community and posting.

    Cheers

    #1222342
    JamesMillar
    Participant
    • Total posts: 1,676
    Paradox, post: 268613, member: 117074 wrote:
    Hello All!

    Really appreciate FlyingSolo/its forum and now have a question of my own that I cannot seem to find an answer to. I’m looking for insight and fundamentals before I talk to an accountant.

    I currently run a PTY LTD company here in Australia with clients across the globe.

    I’m looking to move to NYC for 2 years and as a result, will look for a corporate role over there. However, I plan to continue running my PTY LTD business while working a corporate role over in NYC.

    My question (and subsequent confusion) is:

    • Am I able to continue running a PTY LTD business as I typically would out of NYC for the couple years there? I’d ideally like to avoid closing the business and restructuring over in the States.
    • I’d imagine I’d continue working with an accountant to lodge my quarterly BAS while paying the aligned tax in both the US & Australia?

    If anyone has any sort of insight on this, it’d be greatly appreciated!

    You can do this but the company must at all times have at least one Australian resident director (as in they are living here). If you can find someone prepared to take on this role then it’s business as usual.

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