UK Subsidiary PSC if UK Parent Holding company is with Nominee Shareholders?

[JVD United Kingdom]

Hi guys,

With the UK PSC 'People with Significant Control' rule, I understand that I can hire nominee shareholders to hide my identity from public registers/searchable databases if I own/incorporate/buy a UK LTD company.

If we call this UK LTD company with the nominee shareholders the "Parent Company", then create a UK LTD "Subsidiary" which is fully owned by the Parent Company, I know we can put down the Parent Company as director, but what will be/should be recorded as the PSC for this subsidiary company? I assuming you just fill in the same names as the parent company, and that is that? Also, if I nominate 5 different shareholders to represent 20% each of the shares for the Parent Company, does that mean nothing is reported for PSC or is it just a waste of money?

Thanks

 

[James Turner]

Hi,

The PSC Register is designed to bypass nominee usage. Therefore for the purposes of the PSC Register a nominee is not acting because they act on your behalf, therefore bringing it back to you personally to be added to the PSC Register.

In the scenario above, you could use the parent company as a Director of the subsidiary, but you will also require a physical individual to act as Director alongside the company.

Is there a particular reason you are interested in a UK Company as using an offshore company where privacy can be achieved seems like it may be better suited to you.

 

[JVD United Kingdom]

I have several associated companies which are all part of an overall supply chain. I don’t mind if the regulator can easily find out that I am the real owner. I just need that added layer of privacy to guard against competitions and business counter parties. The operations of these business are almost all UK anyway, and for the ease of filing and running the business it makes sense to just have a UK LTD than runs the operations.



You have any good ideas on how I can achieve this?