A convoluted situation here.. but perhaps it will make sense to someone ;-)
* Existing company is called "BrandName LTD"
* We would like to start a spin-off/child company (not sure of the terminology here..) called e.g. "BrandName Services LTD" where (a) the company/brand-name is still used but (b) the directors of the original company are not shareholders of the new company, but merely shadow/non-exec directors.
So is the best way to go about this..
1) Just create a company as normal - we would presumably (?) then get a call from the C.R.O. asking if we had no objection to such a similarly-named company being formed? (or would it just be straight-out rejected?).
or 2) is there some formal process for the creation of a spin-off company.
Any input appreciated,
Thanks.
PS I appreciate that the normal way to proceed is the original company "trading as" the new name - but in this case we want a separate business (accounts, assets etc).
* Existing company is called "BrandName LTD"
* We would like to start a spin-off/child company (not sure of the terminology here..) called e.g. "BrandName Services LTD" where (a) the company/brand-name is still used but (b) the directors of the original company are not shareholders of the new company, but merely shadow/non-exec directors.
So is the best way to go about this..
1) Just create a company as normal - we would presumably (?) then get a call from the C.R.O. asking if we had no objection to such a similarly-named company being formed? (or would it just be straight-out rejected?).
or 2) is there some formal process for the creation of a spin-off company.
Any input appreciated,
Thanks.
PS I appreciate that the normal way to proceed is the original company "trading as" the new name - but in this case we want a separate business (accounts, assets etc).