At the very least, this was true a few years ago. I have vague memories of seeing something go by that may have changed this (recently) but we definitely had to do the same thing (IP in the Pty) as of 2008-2009.
Geoff. On Wednesday, 16 May 2012 23:22:21 UTC+10, David Jones wrote: > > > i am happy to be wrong but if you are contemplating getting an ausindstry > grant the IP may need to reside in the pty. Certainly when we did the > flipup we needed to get approval that the ip wasn't moving offshore. > > On Wednesday, May 16, 2012 6:54:17 AM UTC+10, Niki Scevak wrote: >> >> This is just my take on things and so I'll be specific rather than the >> frustratingly inane answer of 'speak to a lawyer or accountant" (but >> obviously your situation will be different and so you should). >> >> I'd go with an AU pty ltd as a one share subsidiary of the US corp. You >> want the IP to be owned by the US corp as that is what people are investing >> in (assuming of course you are raising money from investors) or buying at >> some point in the future (assuming you want to sell). >> >> The pty ltd company can employ and pay the salaries of local employees >> and you can still claim the R&D tax credit even though the IP is owned by >> the US parent company. >> >> For the equity allocation of any employees, that should come out of the >> US corp not the AU pty ltd. >> >> The AU Pty Ltd is simply a one share company and no one will ever invest >> in or own anything in this entity. >> >> On Tuesday, 15 May 2012 09:54:43 UTC+10, (★ shop2.com ) Taylor Luk wrote: >>> >>> Hi Niki, >>> >>> You gave some great advice there on US incorporation, these are some of >>> the rare and hard to find information. My company shop2 was incorporated as >>> delaware c-corp through curtis mo from DLA Piper SF last year and i have >>> very similar setup and it's working well so far. >>> >>> 1) you need a postal address, I am using mailboxforwarding.com >>> 2) silicon valley bank is great. >>> 3) there is a delaware tax return, should be easy enough.. >>> >>> However, One of the key question that haven't been address how to setup >>> the subsidiary relationship between US <> AUS entities. I remembered I >>> talked to one of startmate company sidekick who have both a Australian >>> entity for local hiring, development activity to leverage things like >>> grants, R&D tax incentive, also a US entities for funding & businesses. >>> >>> Do you mind sharing some insight from setting up startmate companies? I >>> know there are people thinking about going overseas for funding, incubator >>> or expansion. >>> >>> What is the best way to set this up? >>> >>> - US vs. AUS as parent company? or there is no requirement to setup a >>> direct relationship between companies in share holding >>> - I have couple of AUS employees which I want to grant stock options >>> with typical 4 year vesting in this US entity, or all local hiring should >>> go through Australian entities. I have no idea Australia citizen and tax >>> rules. >>> >>> Kind regards, >>> --- >>> >>> Taylor luk >>> Shop2 <http://shop2.com/> >>> >>> On 01/05/2012, at 12:27 PM, Rob Manson wrote: >>> >>> Hi Steven, >>> >>> we're working with DLA Piper in Silicon Valley to do our Flip Up and >>> they've been amazingly helpful so I can't recommend them highly enough. >>> If you'd like an intro just ping me off the list. >>> >>> Also, depending upon your capital raising goals you may actually want to >>> make the US entity the parent company instead of the subsidiary...but >>> it's worth getting good legal and tax advice on this based on a clear >>> description of your goals. >>> >>> roBman >>> >>> >>> On Mon, 2012-04-30 at 18:33 -0700, Steven Noble wrote: >>> >>> If an Australian, private company was to create a Delaware subsidiary: >>> >>> # What would be the cost? >>> >>> # Who would do it? >>> >>> # What implications would there be? >>> >>> # Especially, what unexpected implications might there be? (E.g if the >>> >>> Australian company and its Delaware listed subsidiary shared staff, >>> >>> equipment, etc?) >>> >>> >>> -- >>> >>> You received this message because you are subscribed to the Silicon >>> >>> Beach Australia mailing list. Vist http://siliconbeachaustralia.org >>> >>> for more >>> >>> >>> Forum rules >>> >>> 1) No lurkers! It is expected that you introduce yourself. >>> >>> 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs >>> >>> >>> >>> To post to this group, send email to >>> >>> silicon-beach-australia@googlegroups.com >>> >>> To unsubscribe from this group, send email to >>> >>> silicon-beach-australia+unsubscr...@googlegroups.com >>> >>> For more options, visit this group at >>> >>> http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en >>> >>> >>> >>> -- >>> You received this message because you are subscribed to the Silicon >>> Beach Australia mailing list. Vist http://siliconbeachaustralia.org for >>> more >>> >>> Forum rules >>> 1) No lurkers! It is expected that you introduce yourself. >>> 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs >>> >>> >>> To post to this group, send email to >>> silicon-beach-australia@googlegroups.com >>> To unsubscribe from this group, send email to >>> silicon-beach-australia+unsubscr...@googlegroups.com >>> For more options, visit this group at >>> http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en >>> >>> >>> >> On Tuesday, 15 May 2012 09:54:43 UTC+10, (★ shop2.com ) Taylor Luk wrote: >>> >>> Hi Niki, >>> >>> You gave some great advice there on US incorporation, these are some of >>> the rare and hard to find information. My company shop2 was incorporated as >>> delaware c-corp through curtis mo from DLA Piper SF last year and i have >>> very similar setup and it's working well so far. >>> >>> 1) you need a postal address, I am using mailboxforwarding.com >>> 2) silicon valley bank is great. >>> 3) there is a delaware tax return, should be easy enough.. >>> >>> However, One of the key question that haven't been address how to setup >>> the subsidiary relationship between US <> AUS entities. I remembered I >>> talked to one of startmate company sidekick who have both a Australian >>> entity for local hiring, development activity to leverage things like >>> grants, R&D tax incentive, also a US entities for funding & businesses. >>> >>> Do you mind sharing some insight from setting up startmate companies? I >>> know there are people thinking about going overseas for funding, incubator >>> or expansion. >>> >>> What is the best way to set this up? >>> >>> - US vs. AUS as parent company? or there is no requirement to setup a >>> direct relationship between companies in share holding >>> - I have couple of AUS employees which I want to grant stock options >>> with typical 4 year vesting in this US entity, or all local hiring should >>> go through Australian entities. I have no idea Australia citizen and tax >>> rules. >>> >>> Kind regards, >>> --- >>> >>> Taylor luk >>> Shop2 <http://shop2.com/> >>> >>> On 01/05/2012, at 12:27 PM, Rob Manson wrote: >>> >>> Hi Steven, >>> >>> we're working with DLA Piper in Silicon Valley to do our Flip Up and >>> they've been amazingly helpful so I can't recommend them highly enough. >>> If you'd like an intro just ping me off the list. >>> >>> Also, depending upon your capital raising goals you may actually want to >>> make the US entity the parent company instead of the subsidiary...but >>> it's worth getting good legal and tax advice on this based on a clear >>> description of your goals. >>> >>> roBman >>> >>> >>> On Mon, 2012-04-30 at 18:33 -0700, Steven Noble wrote: >>> >>> If an Australian, private company was to create a Delaware subsidiary: >>> >>> # What would be the cost? >>> >>> # Who would do it? >>> >>> # What implications would there be? >>> >>> # Especially, what unexpected implications might there be? (E.g if the >>> >>> Australian company and its Delaware listed subsidiary shared staff, >>> >>> equipment, etc?) >>> >>> >>> -- >>> >>> You received this message because you are subscribed to the Silicon >>> >>> Beach Australia mailing list. Vist http://siliconbeachaustralia.org >>> >>> for more >>> >>> >>> Forum rules >>> >>> 1) No lurkers! It is expected that you introduce yourself. >>> >>> 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs >>> >>> >>> >>> To post to this group, send email to >>> >>> silicon-beach-australia@googlegroups.com >>> >>> To unsubscribe from this group, send email to >>> >>> silicon-beach-australia+unsubscr...@googlegroups.com >>> >>> For more options, visit this group at >>> >>> http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en >>> >>> >>> >>> -- >>> You received this message because you are subscribed to the Silicon >>> Beach Australia mailing list. Vist http://siliconbeachaustralia.org for >>> more >>> >>> Forum rules >>> 1) No lurkers! It is expected that you introduce yourself. >>> 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs >>> >>> >>> To post to this group, send email to >>> silicon-beach-australia@googlegroups.com >>> To unsubscribe from this group, send email to >>> silicon-beach-australia+unsubscr...@googlegroups.com >>> For more options, visit this group at >>> http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en >>> >>> >>> -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
