A private company limited by shares in England or Wales must have at least one director, one shareholder, and may have a secretary.
You need at least one person to form this type of company. If there is only one director, and that director is a natural person in your company, that director can also act as the secretary.
A company must have at least one director who is a natural person. This requirement is met if the office of director is held by a natural person as a corporation sole or otherwise by virtue of an office.
You can register a sole director' company, if you are familiar with the secretaries duties and responsibilities, because all of them belongs to a sole director.
The directors and secretary of your company can also be shareholders.
The Companies Act imposes no restriction on the minimum age of company directors. However Companies House will actively discourage the appointment of anyone under the age of 16 from taking up a company directorship on the grounds that the individuals concerned may not fully understand the legal liabilities that go with the position and for the most part will not have the experience necessary to perform the duties of a company director.
Under the Companies Act 2006, there is no restriction on any or all of the members/shareholders being from an overseas country (i.e. outside the United Kingdom in terms of residency, domicile, and citizenship, place of incorporation or all or any of those concepts). Nevertheless, this general proposition may be subject to any applicable foreign investment rules which may apply from time to time.
It is a criminal offence to appoint a non-existent, not permitted for use or fake details for the company' officers appointments.
This requirement came into force on 1 October 2008. But there will be a grace period until 1 October 2010 for any company which did not have at least one director who was a natural person at the time when the 2006 Act received Royal Assent (8 November 2006).
This requirement came into force on 1 October 2008. This means that from that day a natural person will have to be at least 16 years old in order to be a director and also that anyone who is not yet 16 who was previously a director will no longer be so.
The following sections related to directors' conflict of interests were implemented on 1 October 2008: -
If before commencement a company has agreed to provide funds to a director for legal proceedings under section 337A (Funding of director's expenditure on defending proceedings), the company will be able to fulfil that agreement, even after commencement date.
A very few types of loan that are permitted under the 1985 Act will newly require approval under the 2006 Act. If a company has properly made such a loan before 1 October 2007, it will not need to get approval afterwards. In general, transactions entered into before commencement will continue to be governed by the pre-commencement law.
The 1985 Act prohibitions continue in force until 30 September 2007. There is no provision that allows companies to anticipate the relaxation in the rules.