setting up a LTD Company as one person

G

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Hi


Is it possible to set up a LTD company on your own? ie no other shareholders

Do you still need to have other people as directors?

what if you have no other people involved or no volunteers?

are there negatives associated with somebody (eg spouse) just letting their name be used , on paper only,as a director for the purposes of providing these required "directors" if required?


would be happy to give spouse formal paper shateholding etc but they dont want it for fear of any implied responsibilioties as they wont be involved at all in the day to day etc. same reason for being scared to be named as just a director.





Thanks a mill


GF
 
Company

Greenflag


Yes, you can set up a 'Single Member' company and have no other shareholders, this is common enough.

However you do need to have at least 2 Directors.
 
Concur with Rascal.

New Companies Bill will allow 1 Director but have to have a Company Secretary.
 
As already stated. You can own 100% of the shares but you do need 2 directors. You wife can be a director and will have directors responsibilities but in practice, you will run the company and make all the decisions. She will have to sign some forms in setting up the company and bank account but regarding day to day running of the company, she'll do nothing.

Am I correct in saying the new companies bill won't be passed into law for about another 10 months?



Steven
www.bluewaterfp.ie
 
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