Forum Replies Created
Thanks respectful posts and comments to clarify the answers to the original posts.
To exercise an example that may be more relevant to someone who wants to start off in buying property using company trustee trust structure. Say if the sole company director (so sole guarantor in this case) has 10 properties, and he only puts 2 properties as assets for the guarantees. In the event of company bankrupt, does it mean creditor can only chase the guaranteed 2 assets, or can creditors reach as far as the other 8 assets since they are owned by the guarantor of the company being sued?
Thank you.
Thank you Terry.
How do I find out if the property I buy has the land entitlement, either jointly or solely entitled?
What docs should I ask from the real estate agent?
Thanks.Thanks Terry.
Hi Steve,
Thank you very much for the detailed reply.
So to register a proprietary limited (Pty Ltd) company, I am required to supply:
1. Registered Office Address
2. Principal of Business Address
About the Principal of Business Address, my accountant said it cannot be their address as I don’t conduct the company’s business at their office, which makes perfect sense.
Q. What other option have you heard/know of if not using home address as Principal of Business Address?
I guess the worst comes to the worst, I’d use home address for both Registered Office Address & Principal of Business Address.
Q. Do you know any implication of using home address other than privacy/security concern?
Q. Have you heard/know of many people using home address for both addresses for Pty Ltd company?
Thank you greatly.
Seeking advice from experienced folks who have operated Corporate Trustee structure.
About Question (a).
I want to set up a company as the trustee for the trust. As you know, for beginners the company would run from home, as I don’t have the budget to rent a commercial office to run the company. And all the decisions would be run from home anyway.
I am thinking of using a virtual address (of which I can rent from) for the Principal of Business Address for my company. But I am not sure if I can do so, because de facto I am making decisions from home, not at the virtual address.
My concern is: I want to avoid using my residential address as Principal of Business Address, for safety and privacy reasons. As the Principal of Business Address is public and searchable on Company Registers.
My question is: Can anyone please share their experience on this? How can I avoid using residential address, whilst not renting a commercial property to run the company? Or a virtual address can actually work?
Added question: Can the Registered Office Address be my residential address? I see the advantage of it in receiving communications the quickest, instead of waiting for accountant/lawyer firms to forward them to me.
