Company structur to reduce liability of possible failure.

[369]

What company structur would you use if you would run a big project inside the EU needing VAT id but would be concerned about possible unplanned failures caused by events like hacking,bank closure etc. when dealing with big volume of transactions ?

To reduce liability with personal assets as CEO against such failure?

 

[Sols]

As long as the directors have been managing the company to the best of their abilities, none of the events you describe would be actions for which the directors are held liable under normal circumstances. You usually need to demonstrate gross negligence for directors to be held personally responsible.

You might be looking for some sort of general or professional liability insurance, though, which is a type of insurance many companies take out for themselves and/or executive directors.

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This is the probably the answer to your question.