Surrender Share capital

Are you able to surrender 100% of share Capital

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I have a client who are based overseas and they have setup a UK limited company with him and his brother.  Both have 50% shares each.

They now want to surrender/forfeit all of the shares to the company

I told them they must have at least one shareholder with one share and there is no concept here of authorised share capital.  They are insisting this be done as they can do this in their own country and will be an issue in their country of residence if this cannot be done.

 

 

Replies (4)

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By Ruddles
29th Oct 2018 16:59

Is there a question?

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RLI
By lionofludesch
29th Oct 2018 17:07

Why not just strike it off ?

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By Accountant A
29th Oct 2018 18:19

Does the company have net assets? If so, please transfer the shares to me.

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By MeMyselfI
29th Oct 2018 19:54

Strike it off, bona vacantia and then we all benefit :)

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