Company formation

gerbo

I'm hoping someone can help me wrt information on forming a company. I need to form a company but I need to keep the eventual directors of the company private for commercially sensitive reasons.
I realise that keeping directors identity private is not possible. So what are my options?

Can I select two directors whose names are are not sensitive to form the company and have them resign later once the directors names are no longer sensitive?

Are there any other possibilities?

Info appreciated!

srsly78

If it's a limited company everything has to be public. If it's not limited then you can have more privacy.

dbran

Hi

The real directors of the company may need to be disclosed if they are deemed to be "shadow directors" of the company even if you appoint two nomininee directors to sign off things etc.

Might be worth while going "offshore".

Regards

dbran

Glenbhoy

gerbo wrote: »

Can I select two directors whose names are are not sensitive to form the company and have them resign later once the directors names are no longer sensitive?

Yes, you can, directorship doesn't have to be related to ownership.

You can also be unlimited as there are very few actual advantages to being limited nowadays.

dbran

Glenbhoy wrote: »

Yes, you can, directorship doesn't have to be related to ownership.

You can also be unlimited as there are very few actual advantages to being limited nowadays.

If you form an unlimited company you will still have to file a return giving details of directorships and shareholding.

Regards

dbran

srsly78

Yes but that info wouldn't be made available to the public would it? Which is the point it seems.

dbran

srsly78 wrote: »

Yes but that info wouldn't be made available to the public would it? Which is the point it seems.

Hi

I am unsure who you are referring to but that information would indeed be made public on the company's annual return. If there are shadow directors this must also be disclosed on the annual return.

A company is still required to file an annual return even if unlimited. It is only exempt from having to file a set of accounts.

Regards

dbran

gerbo

It has been suggested to me that appointing two directors who will hold the shares of the shareholders in trust may be an option. Ownership of the company will lie with the shareholders and names will remain private. Is this an option?

I'm not sure that the secrecy will be required long enough to need to make an annual return , at least I hope it won't!

How would the issue of shadow directors come to light and what constitutes a shadow director?

srsly78

That sound well dodgy to me :pac: As a director I certainly wouldn't sign up to anything like that.

capefear

Hi Gerbo

The first annual return of a company is due 6months after the company is formed and it is only the B1 That is submitted not any actual accounts. So just keep that in mind.

gerbo

srsly78 wrote: »

That sound well dodgy to me :pac: As a director I certainly wouldn't sign up to anything like that.

Why so? Is it a bit "only fools and horses"?:D

capefear wrote: »

Hi Gerbo

The first annual return of a company is due 6months after the company is formed and it is only the B1 That is submitted not any actual accounts. So just keep that in mind.

Noted. Timing of the formation of the company will have to be thought about. Will a return have to include shareholders names?

edit: just googled it, it does. So in theory holding shares in trust will give ~ 6 months relative anonymity