In 2016, UK has introduced the Person with significan control concept to avoid having nominee shareholders listed in the Company house registry as company shareholders.
So, Why are there still company formation agencies that offer nominee shareholder services? Are these offers illegal?
UK Company Law states that Directors of a company must be involved in the day to day activties of the company. Nominees by their nature are not and so would not meet the company law requirements for a Director. The PSC Register in the UK renders the use of Nominees useless really.
Like everything else in this world, things are not black and white, and sometimes they can be bent, unless one has an inner obligation to follow existing corporate regulations to the letter.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
