Should I need a UK Nominee Director? (Roles & Benefits)

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You must appoint a UK nominee director in your UK limited company to run day-to-day business affairs on your behalf. In this way, you can concentrate on a specific work and at the same time, you can maintain ownership of the company. A limited company must always have at least one director, so you must appoint someone as a director.

Your UK nominee director must have the skills and knowledge to perform the required duties. You can specify the powers of the new director in the articles of association.

Companies House must be notified when a new director is appointed. Once your new director has been registered, you can resign from the position of director.

Also read: UK Nominee Director Services

Benefits of appointing a UK nominee director

Having a UK nominee director in your company gives you a huge number of benefits to your business. 

  1. A nominee director can help you in opening a UK business bank account as some banks may require the nominee director’s signature for account opening. 
  2. He can take care of your business and perform all paperwork and branch visits on your behalf. 
  3. He can look after all your company-related work but does not own shares or benefits from the company. He will get a monthly salary for his work. 
  4. Also, he will be unable to access bank accounts or other assets and make decisions or sign any share-related papers on behalf of the company.
  5. Having a director in your company makes a good image in front of your customers and helps in building trust among customers. As a result, your company will grow continuously.

 
Also read: Significance of hiring a Nominee Director for an Offshore Company

Please watch the video given below to get more details:


The role of a UK nominee director


The following are the roles and duties of a UK nominee director:

  1. He acts according to the powers mentioned in the company’s constitution.
  2. He manages all company-related meetings and visits.
  3. He contributes to the company's success.
  4. He makes individual decisions.
  5. He creates business strategies.
  6. He works with expertise and diligence.
  7. He ensures that the company's statutory books are kept up to date.
  8. He prepares business plans, budgets and schedules.
  9. He prepares and files annual financial statements and tax reports.
  10. He provides managers with the resources they need.
  11. He communicates with company executives and board members.
  12. Pay business taxes.
  13. He informs Companies House of any changes to the company's information.
  14. He does not accept benefits from third parties.

If you are in doubt about how to hire a nominee director, you can contact RTRSupports Limited. They can help you with UK company formation, bank account opening, UK nominee director service and many more.

Can I remove a director before appointing a new one?

If your company only has one director, you must appoint a replacement before dismissing the current director. Similarly, if the company's articles of association specifies a minimum number of directors other than one, you must maintain that number all time because your company cannot function without a director for an extended period, you must first appoint and register a replacement director with Companies House before removing the current director's information from the public record.

You must have at least one human director at all times. While appointing a corporate director (a legal body such as a corporation) is legal, you cannot have a corporate entity as the sole director.

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