Hello,
I'm in the process of starting a ltd company. I will be investing all the funds being used in setting the company up and will be the 100% owner.
I know that you need 2 Directors when setting up a ltd company and a secretary. I was assuming I would be a director and the secretary, my question relates to the second director.
Assuming I get a friend or family member to take on this role, what rights/powers do they have?
Is it possible to have them listed in this capacity so they have no ownership rights for the company or influence in decision making? If I were to have a falling out with the second director could they in theory make claim to part of the company?
Just wondering what the level of responsibility involved is and how limited it can be?
Thanks in advance
I'm in the process of starting a ltd company. I will be investing all the funds being used in setting the company up and will be the 100% owner.
I know that you need 2 Directors when setting up a ltd company and a secretary. I was assuming I would be a director and the secretary, my question relates to the second director.
Assuming I get a friend or family member to take on this role, what rights/powers do they have?
Is it possible to have them listed in this capacity so they have no ownership rights for the company or influence in decision making? If I were to have a falling out with the second director could they in theory make claim to part of the company?
Just wondering what the level of responsibility involved is and how limited it can be?
Thanks in advance