How to maintain 100% company ownership without becoming a director?

RonanC said:
Capnhand mentioned Shadow Directors...

Section 27 of the Companies Act 1990 states:



So, you asked



The above piece of legislation would make you a director and you must be listed as one.
Click to expand...

+1

And as mentioned previously, the only reason you could want to conceal your involvement in a company would be to pull the wool over somebody's eyes; whether it's the taxman or some other arm of the State, an employer, or current or prospective business contacts.

If a politician did what you want to do, and was outed, it'd be huge news splashed all over newspapers with condemnation and words like "transparency" written all over the place. Don't get me wrong, I'm not expressing an opinion on the ethical rights or wrongs, merely an observation - people with nothing to hide generally don't feel the need for such chicanery.
 
contemporary said:
You could use an umlimited company with the risks that are attached to that and then have the shares owned by a company outside of the country, for example an Isle of Man company, which doesnt have to publish its accounts.
Click to expand...

Very good point. I can setup a limited holding company in any of the tax havens situated around the world which has a 100% share holding in any new company setup here.

But then again, that's complex for a small startup but it is indeed a viable option. I appreciate that point of view thanks.
 
RonanC said:
Capnhand mentioned Shadow Directors...

Section 27 of the Companies Act 1990 states:



So, you asked



The above piece of legislation would make you a director and you must be listed as one.
Click to expand...

I know that as I've already stated that above i.e. you have to give Director details including "shadow directors" or "Alternate Directors" on the A1 Company incorporation form.
 
ivorystraws said:
I know that as I've already stated that above i.e. you have to give Director details including "shadow directors" or "Alternate Directors" on the A1 Company incorporation form.
Click to expand...

So the answer to your original question on the thread is that no, it's not possible to legally hide the fact that you are in fact a director of the company, whether officially or as a shadow director.

Your ownership can be hidden if you wish to jump through the variety of hoops, but if you're running the show, legally you have to be acknowledged as such.
 
apple said:
Hi Sorry if this is a silly answer but can you not set up the company using a 2 Nominee Directors,s Nominee secretary and Nominee shareholders and registered office. granted i know there is an extra cost for this.
Click to expand...

Not such thing as a silly answer. Appreciate the comment. Simply googling that term results in lots of Irish Nominee Director Services.... wasn't aware of these!
 
ivorystraws said:
Not such thing as a silly answer. Appreciate the comment. Simply googling that term results in lots of Irish Nominee Director Services.... wasn't aware of these!
Click to expand...

Again, not a solution. As you've already stated you're aware of the provisions of company law which mean that if you are acting as a director then you have to be disclosed as one on the annual return. All you'll have is two nominees who get paid to sign things.
 
RonanC said:
You are trying to hide your involvement/running of this company from the public. Every company in Ireland must disclose all directors, shadow or not and all shareholders.


So the question is valid, what are you trying to hide?
Click to expand...

Where is a shadow director supposed to disclose his/her position? Seems a contradiction in terms!
 
Some posters are very naive(? spelling). There are many commercial reasons why a person would want to conceal their involvement in a business none of which are illegal. Wealthy people may not wish their wealth be known to customers or suppliers who would charge more if their involvement are known. People from particular backgrounds may not want their involvement known due to bigotry or prejudice of potential customers, suppliers or regulatory authorities.
 
Point taken, but read the OP's last few threads Joe, and you might have a different opinion as to why they want anonymity.
 
Remember on the accounts you have to disclose the ultimate controlling party which will be you. This should be filed with the CRO in the abridged accounts but again alot of accounts are filed without it.
 
Paddy199 said:
Remember on the accounts you have to disclose the ultimate controlling party which will be you. This should be filed with the CRO in the abridged accounts but again alot of accounts are filed without it.
Click to expand...

I think OP is more conncerened with hiding the fact that they are a director than a shareholer!
 
You must log in or register to reply here.
Back
Top