Guest sali Posted May 6, 2008 Share Posted May 6, 2008 Hi, I am currently on a 457 visa here in Australia and am currently happy with my job etc. Before I moved to Australia I was working on a web business with a friend in the UK and the business is now about to be promoted and she wants to incorporate the company as a ltd company. She would like me to be the other company Director. I wil not theoretically be working for the business as I am over in Australia and have my new job - but as company director I would be eligible for a % of the profits etc from the UK business. My question is if I become a Company Director for a company in the UK - am I breaching my rules of the 457 visa by "working for another company"? Has anyone else been in the same situation? I don't want to do anything to breach my visa conditions. If I become a Director and earn money from the site, will I also need to delare this in the Uk - or can I include it in my Oz tax return? Any help will be appreciated! thanks! Link to comment Share on other sites More sharing options...
Guest AndrewL Posted May 6, 2008 Share Posted May 6, 2008 Hi, I am currently on a 457 visa here in Australia and am currently happy with my job etc. Before I moved to Australia I was working on a web business with a friend in the UK and the business is now about to be promoted and she wants to incorporate the company as a ltd company. She would like me to be the other company Director. I wil not theoretically be working for the business as I am over in Australia and have my new job - but as company director I would be eligible for a % of the profits etc from the UK business. My question is if I become a Company Director for a company in the UK - am I breaching my rules of the 457 visa by "working for another company"? Has anyone else been in the same situation? I don't want to do anything to breach my visa conditions. If I become a Director and earn money from the site, will I also need to delare this in the Uk - or can I include it in my Oz tax return? Any help will be appreciated! thanks! I don't know about the immigration side (although I think you could do it and be okay - check out your contract through to establish if you are permitted to undertake outside employment) but on the personal tax side, it would depend on how you were receiving the income stream. I would imagine a UK dividend, as you are a temp res, no issues in Australia. A big worry on the company side is you run the risk of permanent establishment and making the company Australian resident... and that impacts your personal tax situation. That is not good! Seek professional advice before agreeing to anything. Oh, and don't listen to people on internet forums ;-) Link to comment Share on other sites More sharing options...
Guest BullcreekBob Posted May 6, 2008 Share Posted May 6, 2008 Under your 457 visa you're required to work full time (38hrs / week) for your sponsor. What you do in your spare time is up to you and would only concern DIMIA if it's immoral or illegal and the Ozzie taxman only cares about what you earn here. Being a director of a Ltd company however is not all beer 'n' skittles. There are some potential financial and legal obligations. If your 'friend' on behalf of the company engages in illegal activities or defrauds the VAT man, it could be you in jail. But if it's a friend you trust and you can spare the time to keep a fiducial eye on the company - go for it (after seeking appropriate financial and legal advice). Link to comment Share on other sites More sharing options...
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