Hi
Can someone tell me if there are any requirements for an Overseas co having a branch in UK to issue share capital for the UK branch. Does it necessary to issue share for the UK branch. UK branch has been registered with Co House but I could not find any share capital on the co house website.
Shall I assume there is no requirement for the branch to issue shares?
Do the co need to file accounts with the companies house?
thanks
Replies (4)
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Eh?
How can a branch issue shares? Only the company itself can issue shares.
Yes - the overseas company's accounts do need to be filed at Companies House as set out in Chapter 3 of the Companies House guidance GPO1. I suggest that you should read through all the guidance.
Take a look at FCO12665 at Companies House (latest accounts for example) .... how is the issue of 100 shares being reconciled to the concept of a branch being part of the same legal entity ?
I can understand an investment fund/OEIC being able to issue shares in designated sub-funds and a protected cell company (such as exists in Guernsey) being able to do something similar but I am struggling with the concept of branch capital of a structure comparable to a UK Limited Company being capable of designation in terms of "shares" at branch level. What am I missing ?
No... didn't miss that. The point is how is "share capital" being carried in the accounts of a UK branch of a major global US LLC ?