Ltd Co bank accounts, credit checks on directors

jilt Registered Posts: 2,903
A sole trader has a very poor credit record due to a messy marriage break up and subsequent divorce. He's now looking at incorporating as his business is growing and he's taking on a lot of debt.

Alliance & Liecester have told him he would still need to be credit checked as a company director so he doesn't think he'd get an account. Does anyone know if shareholders are credit checked as well as directors?

Could he set up a limited comapny, his partner being the sole director and the both of them being shareholders but only him receiving dividends? Or is that a bad idea as she would then be responsible for the running of the company?

If any one has any ideas/advice they would be greatly appreciated.


  • King of the Mountains
    King of the Mountains Registered Posts: 66 💫 🐯 💫
    Why doesn't she be the Director and he the shareholder, as a director you don't have to be a shareholder.
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