Hi All,
I am the majority shareholder and director of a small distribution company.
My former partner and fellow director recently resigned and I bought back his minimal shareholding. I now wish to appoint a family member as the new company director with the mimimum shareholding required by law to comply with CRO regulations stipulating two directors. My questions are as follows:
Is it acceptable for one of the two required directors to be appointed in a "non-executive" capacity ?
If this new director is working full-time in the PAYE sector in a totally different company does this appointment effect his current tax status ?
Dies his title have a bearing on this whether it be "Director" or "Non-Executive Director"
Any replies would be much appreciated.
I am the majority shareholder and director of a small distribution company.
My former partner and fellow director recently resigned and I bought back his minimal shareholding. I now wish to appoint a family member as the new company director with the mimimum shareholding required by law to comply with CRO regulations stipulating two directors. My questions are as follows:
Is it acceptable for one of the two required directors to be appointed in a "non-executive" capacity ?
If this new director is working full-time in the PAYE sector in a totally different company does this appointment effect his current tax status ?
Dies his title have a bearing on this whether it be "Director" or "Non-Executive Director"
Any replies would be much appreciated.