Have any US citizens acquired a UK company?

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by a searcher from Babson College - F.W. Olin Graduate School
in United States

1yr ago

Have any US citizens acquired a UK company?

I'm an American living in Scotland due to my previous role as CEO here. I'm launching a fund focused on US-based companies, but I'm now considering UK-based acquisition opportunities.

I've heard there are challenges for US citizens - specifically taxes and owning over 50% of a UK company, which involve significant paperwork and fees. If you've navigated this process, I'd love to hear your insights.

Thanks!

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reply by a searcher 1yr ago
in London, UK

Not an expert on this by any means and no personal experience, just a searcher trying to help a few others, plus I'm a Brit so it'd my way of welcoming you both! Based in London if you're ever this way happy to meet up.

As a starting point and a few ideas -

I think you're referring to the GILTI tax with the 50% ownership piece more info here -redacted

You can reduce it somewhat by having a US hold Co, but still it doesn't get around it fully as the entire point of the legislation is to prevent US companies from offshoring parts of their business. Plus the paper work will still be difficult.

One way that might help is setting up an LLP in the UK which you'd own as a US citizen (or through a US hold co if you'd like even more paperwork), as I believe GILTI only applies to CFCs (Controlled Foreign Corporations) and I don't think this includes LLPs. Of course an LLP has pass through tax advantages as well, so that might help somewhat. You'd still have the paperwork, and you may prefer the UK entity to be owned by a company rather than a partnership.

Another thought is you could bring in some British partners in and buy something larger and but have a smaller stake.

Best of luck with it!

reply by a searcher 1yr ago
from Babson College in United States

Thanks, Rob! Would love to connect. Plan on being down in London in the next few weeks.