Corporate Directors - Nominee Director Services

Prior to Octber 2008 it was possible to operate a UK company with a corporate director in place. Typically the corporate director was a company that was appointed as the sole director.

It also used to be possible to operate a UK company with a nominee director in place as the sole director for a company. This company then provides a power of attorney to the beneficial owners of the company so that they can run the business.

Due to changes in money laundering regulations and the implementation of the Companies Act 2006 we no longer supply a nominee director service.

If you are looking to use a corporate director or nominee director service please consider the following points-

You will need a bank account. We are not aware of any UK banks that will provide a business account for a limited company that does not have real director’s appointed.

The Companies Act 2006 has changed the law on corporate directors. From October 2008 new companies are no longer allowed to have a single corporate director appointed. A real person needs to be registered at Companies House. The law is slightly different for companies registered previously. The following information should clarify the changes.

Summary of changes

For any company registered after 8 November 2006 (this is when the Companies Act 2006 came into force)

From October 2008 you will not be able to use a corporate director if it is the only director appointed. Companies will need to have a real person appointed.

For any companies registered before 8 November 2006

You have an extra 2 years to appoint a real director. After October 2010 you must have a real person appointed as a director.

In short – They are stopping sole directors being corporate entities. All companies will need to have at least one real person as a director.

Further information on Companies Act changes available here - Nominee Directors

Is it possible to open a bank account using a Nominee Director?

It is unlikely that you will be able to open an account due to Money Laundering Regulations. However, if any bank does offer an account they will need to be made aware of all persons connected to the company for their own private records. Each person must be of good standing and meet the banks usual status requirements, reference and identity verification.

Who is responsible for running the company?

We will pass the powers of the director to a person of your choice assuming you are able to provide all of the requested information. That person will then be legally responsible for managing the company to include accounting and taxation.

Is the nominee director a real person?

No, a nominee director is a corporate director and not a real person.

Can SFS provide a nominee director for an existing company?

No. Unfortunately this service is suspended.

Can SFS provide a nominee director for a new company?

No. Unfortunately this service is suspended.

How do I order your nominee director service?

The Nominee Director Service is currently unavailable.

Need further information?

Please call us on +44 (0)845 330 2717 to discuss your requirements. Alternatively email us any questions to info@sfsgo.com.

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