'Directors, Shareholders and PSC' - FAQ
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Directors, Shareholders and PSC

Here will be the FAQs and details related to 'Directors, Shareholders and PSC'.

What is a company director? +
A director is responsible for managing the company’s affairs and making key decisions.
Can anyone be a director? +
Most people aged 16 and over can be directors, unless they are disqualified.
What are a director’s legal duties? +
Directors must act within the company’s best interests, obey laws, and avoid conflicts of interest.
Who are shareholders? +
Shareholders are individuals or entities that own shares in the company and have certain rights.
Can a director also be a shareholder? +
Yes, it’s very common for directors to also be shareholders.
What is a PSC (Person with Significant Control)? +
A PSC is someone who owns or controls more than 25% of a company’s shares or voting rights.
Do I need to register PSCs? +
Yes, UK companies must keep a PSC register and file details with Companies House.
Can a company have more than one director? +
Yes, there’s no maximum number of directors a private company can appoint.
Do directors have to be UK residents? +
No, directors can be residents of any country.
How do I change directors or shareholders? +
You must file the appropriate forms with Companies House and update your company records.

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