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Old 07.07.2010, 15:51
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Start up ...but need to leave the country soon..

Hi,

I set up my own company last Dec. But due to personal reason, I have to go to Hong Kong for at least some months...

I don't know if I am allowed to keep runnung my company..( now its only a one-man company since I just finished set-up phase and should start to look for customers...)


I am thinking I may setup a Hong Kong Branch...but I also have to think to de-register here or not...

I would appreciate any advice...
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  #2  
Old 07.07.2010, 15:58
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Re: Start up ...but need to leave the country soon..

What is the nature of business?
Would you consider selling it?
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Old 07.07.2010, 16:00
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Re: Start up ...but need to leave the country soon..

Why dont you try and fiend someone to work for you on a small salary but manly commission basis and then your good to go ? What is it that you started ?
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Old 08.07.2010, 17:15
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Re: Start up ...but need to leave the country soon..

Hi

Thx for your suggestions...
I was planning to be a freelance for IT projects..

I also think about to hire someone with little salary...but IF I de-register...then I dont have residence here and I dont know if I am allowed to own a company here...

Life changes...

I am thinking to setup another branch in the place I am going...
Then I will have dual-residence...I am not sure if Switzerland gov will allow me to do so...

And ...I can not keep setting up offices but not earning money..that is not a business at all....
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  #5  
Old 08.07.2010, 18:11
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Re: Start up ...but need to leave the country soon..

Are you set up as a sole trader or as a GmbH / Sarl ?

If the latter then you must have a director with signing authority resident in Switzerland.

If not, then the company automatically goes into liquidation.
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Old 09.07.2010, 10:13
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Re: Start up ...but need to leave the country soon..

oh..mine is Gmbh...

So it seems no way to de-register if I still want to keep it..
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Old 09.07.2010, 11:35
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Re: Start up ...but need to leave the country soon..

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oh..mine is Gmbh...

So it seems no way to de-register if I still want to keep it..
Expenses of retaining GmbH:
  • GmbH are taxed on capital. So you will incur expenses without revenues.
  • Address change of owner/GmbH must be formally communicated via notarized document to the Registrar of Companies, who must publish in SHAB. More costs!
  • At least one director must be Swiss resident. Appoint a paid director?
Your only alternative is to liquidate the GmbH. That costs money, too.
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Old 09.07.2010, 11:44
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Re: Start up ...but need to leave the country soon..

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At least one director must be Swiss resident. Appoint a paid director?

... and to reiterate, that person must have signing rights for the company.
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Your only alternative is to liquidate the GmbH. That costs money, too
Not necessarily. On deregistering and leaving the country the company automatically goes into liquidation and the bank account is frozen. If there is cash in the bank the powers that be will use it to pay for the liquidation and then just keep anything left over - nice. If the bank account has been emptied first then either the state bears the cost of the liquidation or they chase you across the world with a bill .
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Old 09.07.2010, 11:56
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Re: Start up ...but need to leave the country soon..

@ ppuu
In another thread
re-new the residence ...really need 6 weeks? then summe will be over...
you say that you are renewing your Swiss residence permit but meanwhile want to go on holiday in Italy.

In this thread you own a GmbH but you are moving to HongKong and starting a branch there!

I am confused about your intentions. Care to explain?
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Old 09.07.2010, 12:01
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Re: Start up ...but need to leave the country soon..

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... and to reiterate, that person must have signing rights for the company.


Not necessarily. On deregistering and leaving the country the company automatically goes into liquidation and the bank account is frozen. If there is cash in the bank the powers that be will use it to pay for the liquidation and then just keep anything left over - nice. If the bank account has been emptied first then either the state bears the cost of the liquidation or they chase you across the world with a bill .
The point is that there will be costs, whether retaining or liquidating a GmbH.

I prefer not to explain clever ideas on evasive and fraudulent tactics.
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Old 19.07.2010, 18:29
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Re: Start up ...but need to leave the country soon..

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The point is that there will be costs, whether retaining or liquidating a GmbH.

I prefer not to explain clever ideas on evasive and fraudulent tactics.
There are clever tricks that are avoidance and not evasion, but it may be too late for that. I always advise entrepreneurs to hold off on expensive capital outlays until they have a workable, if not a working, project. One of the reasons that UK limited companies, and for some purposes US state LLCs, are so popular even for businesses (start-ups especially) that do no business in those two countries is that they are taxed little or not at all, and the maintenance cost (California excepted, where there is a $800 minimum annual franchise tax) is low. Canada is cheap too.

Only when the hurdle of doing "substantial" business in a particular country is crossed, or a permanent establishment set up, need one worry about creating a subsidiary or a formal branch. At that point there has to be a local agent, but as often as not one appoints a professional company registration firm to do that.

As has been hinted in this thread, the normal way of going out of business with a disposable entity is throwing the key down the sewer. If, as appears to be the case here, the company principal and not (as the Mob are fond of using) a local drunk is the named representative, some kind of formal suspension or termination is the best bet.

Over the years, in many countries, I have known "silent partners" who were the real parties in interest, but nobody knew that. The front man would be a local, often a minority person, who was presented as Chief Executive Officer. Every so often one of these companies would make a lot of money and wealth would trickle down to the front man too.

Let it be known I was just an observer: commercial attaché at the embassy.
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Old 03.08.2010, 18:31
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Re: Start up ...but need to leave the country soon..

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@ ppuu
In another thread
re-new the residence ...really need 6 weeks? then summe will be over...
you say that you are renewing your Swiss residence permit but meanwhile want to go on holiday in Italy.

In this thread you own a GmbH but you are moving to HongKong and starting a branch there!

I am confused about your intentions. Care to explain?
Sorry for late reply.

I got my new permit in 10 days..
My case is a little complicated..I know..

I was employed by a swiss company and I terminated the contract. ( was working till end of July) I planned to start working for myself from this month.

On the other hand, my partner needs to go to work in Hong Kong soon...which was not in my plan.

So I am thinking the best way to balance work and life now...
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  #13  
Old 04.08.2010, 00:01
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Re: Start up ...but need to leave the country soon..

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I prefer not to explain clever ideas on evasive and fraudulent tactics.
Nothing evasive or fraudulent about my suggestion - it is allowed for in Swiss law. I actually new someone who was shocked to find his company bank account frozen and marked "in liquidation" when one of the two (then required) directors left the country .
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