Since 1st October 2008, UK Companies Act requires every company in the UK to have at least one human person as the director of the company (as opposed to corporate directors). Rigorous implementation of due diligence procedures by banks has meant the requirement for the Director of the company to be personally present at the time of opening of a corporate bank account. These new changes in business practice in UK have made it difficult for entrepreneurs to operate their business anonymously.

Formations House offers you the outstanding opportunity to trade anonymously through its Managed Company service.

The Managed company option is available for our readymade companies incorporated before November 2006

In the Managed Company service we appoint a managing director for your company:

• The Managing Director of your company is a mandatory legal requirement.

The person we appoint as the managing director will be the sole signatory of your company but will act strictly under your supervision. The person appointed will come from our team of professional interim managers. Our Interim manager will:

• Sign all the bank account opening forms
• File annual returns on the behalf of your company and will deal with your company's correspondence with Companies House.
• Authenticate all the financial transactions of your company
• Sign all paper work (after thoroughly reviewing the terms and conditions) on the behalf of your company.

The Managed Company service also includes that following services as standard for your company:

• Outsourced Accounting and Accounting System: Outsourced accounting together with our accounting system (Enterprise Accounts Express) track all your business accounting scrupulously and efficiently.
  
  
• Collection services. The Managed Company service provides you with instant global payment and collections processing. You are able to transact business in 65 countries using our ability to collect and send payments via local bank accounts. Full online report and management control panel is available 24/7.
  
  
• Custom infinilive services: to enable you to keep the costs of running to the minimum you can access our range of services, which mean almost any administrative service you require on a transactional basis, you only pay for the services when you use it.

At all times you are fully in control: you can direct the interim director to undertake tasks, you can appoint yourself as a shareholder or you can use our nominee shareholder service.

You are also totally free to appoint your own directors at any time in the future, Our interim Director will then resign, leaving your director in-charge of the company.