Organisation: A new company using Blockchain to provide platforms for new entrants and finance organisations. Owned by three Russian nationals, two based in the UK. The challenge was to set up a new company with both onshore and offshore directors and create a shareholder agreement that achieved this and protected the investment from the main Shareholder and Director, ensuring it was paid back once the company was in profit. A further challenge was the engagement of a UK Bank to provide Business Banking services as the key players were not able to do this with Russian Nationals.
Solution: We worked with the main Director to define a company and shareholder structure for the new enterprise. Collated all the information to allow the new company to be set up and created it with Companies House delivering a shareholder agreement that protected his initial investment and allowed it to be repaid as soon as the Company was profitable. We then negotiated the shareholder agreement with the parties and created a finalised agreed document. Finally, we liaised with a number of UK banks until we found one willing to run their business account and co-ordinated the opening activities.
• Company Structure– Investigated and defined the most appropriate company structure that would allow the company to reside in the UK, have foreign shareholders and use offshore resources.
• Shareholder Agreement – Defined a shareholder model that protected the initial investment from the key Shareholder, ensuring he retained sole control of the company until his investment was paid back, at this point, voting rights and ownership became equal across the three Directors and Shareholders.
• Online Presence – Proposed approaches to protect the name of the company, domain name, twitter, Instagram and other feed identities at the early stages of the company setup. Preventing others from purchasing them and then charging a high price to sell them back.
• Serviced Office – Investigated and identified a prestigious managed office location to provide a quality address for the company. This then provided the company with a well-known address adding credibility to their name, and providing mail services to allow quick and easy access to important mail items.
• Bank Account – Liaised with a number of UK banks to find one that would allow a company with non-UK shareholders to bank with them; this excluded the top UK banks as they weren’t able to do this. Co-ordinated the introduction of a number of challenger banks to provide the services to the company resulting in a business bank account being set up.