If you have a criminal record, you may be wondering if you can set up a limited company. The good news is that, in most cases, you can. However, there are a few things you need to be aware of before you do so.
Can I Set Up a Limited Company with a Criminal Record?
In the UK, there is no blanket ban on people with criminal records setting up limited companies. However, there are a few specific offenses that will disqualify you from being a company director. These include:
- Fraud
- Insolvency
- Money laundering
- Tax evasion
If you have been convicted of any of these offenses, you will be listed on the Disqualified Directors Register. This means that you will not be able to be a company director, even if you set up a limited company.
What If I Have a Non-Disqualifying Criminal Record?
:If you have a criminal record that does not disqualify you from being a company director, you can still set up a limited company. However, there are a few things you need to be aware of.
First, you will need to disclose your criminal record to Companies House when you register your company. This is because Companies House is required to keep a record of all company directors' criminal records.
Second, you may have difficulty getting insurance for your company. Some insurance companies will not insure companies that are run by people with criminal records.
Third, you may have difficulty finding suppliers and customers who are willing to do business with you. Some people and businesses may be reluctant to do business with companies that are run by people with criminal records.
How to Set Up a Limited Company with a Criminal Record
If you have a criminal record and you want to set up a limited company, there are a few things you need to do:
- Make sure that your criminal record does not disqualify you from being a company director.
- Disclose your criminal record to Companies House when you register your company.
- Be prepared to have difficulty getting insurance for your company.
- Be prepared to have difficulty finding suppliers and customers who are willing to do business with you.
If you have a criminal record, you can still set up a limited company. However, there are a few things you need to be aware of before you do so. By following the advice in this article, you can increase your chances of success.
Published: 7/14/2023 9:22:45 PM
