I would like some facts about the types of company and specifically the rules for directors of a company limited by guarantee i.e. what they do and their limitations.
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The rules governing directors of companies limited by guarantee are in principle similar to those which exist for a company limited by shares.
It is not usual however, due to the “trustee” aspect typical of a director of a non profit making company for there to be additional clauses contained in the memorandum and articles of association restricting the ability and scope of what a director can do.
The specifics would obviously depend to the individual company and what restrictions it deems as suitable.
For a detailed study of what directors can do in general terms, the Companies Act 2006 contains the only complete reference. It can be viewed and downloaded at www.opsi.gov.uk/acts/acts2006/pdf/ukpga_20060046_en.pdf
I hope this helps.
I am currently working in Saudi Arabia with a view to returning to England in two years. With a partner, I have been working on ideas to start a business which initially will involve importing to and selling products in Saudi Arabia and other Middle Eastern countries.
I addition, we will also engage in exporting products from other countries to sell in the UK. Within two years I would then hope to return to the UK to set up a further retail business here.
My partner and I would like a UK based company allowing us to trade as described. Although at present we are working in Saudi Arabia, a company formed there would require a Saudi sponsor which would not be desirable. I am a British citizen with two properties here; my partner is not a UK resident although she does have two properties in the UK.
1. Could you advise me on the most appropriate type of company to form and how to proceed?
2. As my partner is not a UK resident would this have any bearing on setting up a company in the UK?
From the description you gave of your plans, it seems that a company limited by shares is suitable. This is the most common form of UK company and is used for commercial business activities.
We offer four packages for this type of company. In deciding which one to select, the question hinges on the registered office.
Based abroad, you will need a UK address to meet the requirement of having a registered office in England, Wales or Scotland.
If you can use one of the UK properties you own as a registered office then any standard company formation package would be fine for your needs.
If on the other hand you would not be able to use of these addresses (perhaps because they are rented out and you can not have mail sent there, then you will require a package, which includes a registered office facility.
One the question of your partner’s residence, they do not have to be resident in the UK to own or be a part of a UK company. Directors and owners of UK companies can live anywhere in the world and there is no requirement for them to have visited or plan to the UK at anytime in the past or future.
I hope that this information helps.