At B-Corp, we offer a complete service when it comes to changing company shareholders. We prepare a document that will need to be signed by a director and then submitted to the Department of Business Development, often referred to as the DBD. We will need to obtain some information from you regarding the change, but most of the process can be completed by proxy.
A change of director can happen for a variety of reasons but it is once again important that it is reported correctly. The process will start with a Board Meeting. After this, the registration of change of director and change of director roles must be then applied for within 14 days to the government by the ‘old’ director. We will again need to prepare the necessary paperwork after obtaining some information from you and prepare the change.
It may sound obvious but informing the relevant bodies is one of the things that can often get forgotten when a business changes address. The Revenue Department, DBD and Social Fund all need to be told and your new landlord will need to supply appropriate documentation and written permission.mounts of paperwork but in this is usually all that you are required to do – we simply do the rest!
The is a simple process but something that must be done via the right method. The process to increase share capital takes around a month as invitation letters need to be sent to all shareholders inviting them to a meeting whilst a letter also needs to publish by the local newspaper or Gazette informing all parties of the requested change. If a decrease in share capital is requested the process takes slightly longer although follows a similar procedure to that of an increase. The only change, creditors will also be invited to the meeting and assuming that there are no objections, the process will be complete in around 45 days.
The objectives of any business must be clearly set out in your company paperwork. If, however, these objectives change after the company has been registered, a board meeting will need to be arranged. After this, documents will need to be submitted to the government departments. We can do this on your behalf, first by informing the DBD of the company’s intentions and the changes that wish to be made. We will again need to request fairly substantial amounts of paperwork but in this is usually all that you are required to do – we simply do the rest!
In order for the change of company name to be valid, the change must be registered with the DBD. After this step has been completed other government departments will again need to be informed. The Company Stamp or Corporate Seal will also need updated to represent the name change. There will also need to be other administrative changes such as registrations, company paperwork, any licences and of course, the company bank account. This whole process can be quite complicated but our team at B-Corp has several years’ experience and will be able to assist you at every stage of the process.