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issue concerning a minor shareholder in a company Posted by isonoawabi (190 days ago) We have a family company in which one of the shareholders is a minor. It is a HK company set up by my dad to provide for his children and my younger brother is a minor. We are going to acquire some property in London and are very close to signing documents but we have been told that English law requires that the company cannot have a minor shareholder and the minor's shares must be held by a trustee on trust for him. I wonder if anyone here is familiar with this aspect of Enlgish law and can tell us if this is true. (I am based in Hong Kong) Find what you are after in our Macau A-Z Directory  Posted by GreenValleys (190 days ago) I'm sure that it is true - not only in the UK but in most other places (eg AUS, CAN, NZL...) where the laws have been developed from original English laws. And on that basis I'm a bit surprised it is not the same in HK. Thinking about it makes sense not to allow minors to be shareholders in their own right. (I am based in Jakarta) Posted by isonoawabi (189 days ago) Thanks Greenvalleys. Strange that HK law differs from English law though it is derived also from English law (I am based in Hong Kong) Posted by associates (181 days ago) This "view" is fundamentally wrong.....who the shareholders are in a HK company is irrelevant to purchase of a UK property. What matters is who are the directors and their powers of management. If you need further assistance please all our Mr. Weir. (I am based in Hong Kong) |
