Can I own a company but not be director?

[paraclete]

Hi,

Unusual question.

I lost virtually everything in my divorce, fortunately that includes my ex-wife. Had the judge ruled that I had to stay married to her, life would not have been worth living.

Now I can start again.

Unfortunately my ex-wife is the vengeful sort, not unusual I know, and so will be looking for any opportunity to persecute me still further. I am anticipating that she is watching my company accounts like a hawk.

What I would like to do is open another company, away from her prying eyes, but i know that she will be able to trace it if I am a director. So, is there any way that I can own a company, but not be named as a director?

I look forward to advice.


Thanks in advance.

[stek]

No

[VectraMan]

Yes.

But somebody will need to be a director, and shareholders are also on the public record.

[northernladuk]

Maybe.

[WordIsBond]

Yes, of course. You can appoint anyone who is willing to serve as a director and isn't legally disqualified. And there is no requirement for a majority owner to be a director. Often they aren't, often they appoint multiple directors to represent their interests, but don't serve in that role themselves. But it comes with legally responsibilities, so you should pay whoever you appoint, and you had better implicitly trust whoever it is.

If there is anyone you trust that much, she probably knows about them, so may be watching for them, too.

Your name as a shareholder will be on the capital statement with Companies House, but she is unlikely to find it if the company name is something she knows nothing about, and if you aren't a director. But if she is that vengeful, and she doesn't find your name as a director, she may start checking on all your friends, too. She probably knows enough about you that she'll eventually find out if she really wants to.

[john@UKCA]

nominee Shareholder

Nominee shareholder + declaration of trust

[mudskipper]

Hi,

Unusual question.

I lost virtually everything in my divorce, fortunately that includes my ex-wife. Had the judge ruled that I had to stay married to her, life would not have been worth living.

Now I can start again.

Unfortunately my ex-wife is the vengeful sort, not unusual I know, and so will be looking for any opportunity to persecute me still further. I am anticipating that she is watching my company accounts like a hawk.

What I would like to do is open another company, away from her prying eyes, but i know that she will be able to trace it if I am a director. So, is there any way that I can own a company, but not be named as a director?

I look forward to advice.


Thanks in advance.

Now you've had your question answered, a bit of further advice.

You've obviously had a tough time and have my sympathy, but comments like the one above don't do you any favours. Try and keep a lid on your bitterness, or you'll end up a not very nice person.

[john@UKCA]

Planned register of beneficial owners!

The Government has plans to introduce a pubic register of who really owns uk companies. I think it is coming in later this year sometime.

[mudskipper]

The Government has plans to introduce a pubic register of who really owns uk companies. I think it is coming in later this year sometime.

Good point - more PSC confusion; Persons of Significant Control

[paraclete]

Many thanks for all of the advice, but it looks like the PSC legislation knocks my idea into touch. Back to the drawing board!

Sorry mudskipper if my comments caused offence, perhaps my experience and those of friends/colleagues is unusual. Apologies.