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issue concerning a minor shareholder in a company

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ORIGINAL POST
Posted by isonoawabi 18 yrs 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.

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COMMENTS
isonoawabi 18 yrs ago
Thanks Greenvalleys. Strange that HK law differs from English law though it is derived also from English law

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associates 18 yrs 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.


Weir & Associates

Solicitors & Notaries

16th Floor Tak Shing House

Theatre Lane

20 Des Voeux Road Central

Central

Hong Kong

Tel : 2526-1767

Fax : 2868-3568

email : weirlaw@hongkonglaw.com

www.HongKongLaw.com/weirlaw

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