People and roles
Shares, plainly in
What a share is, what to decide before you apply, the certificates and the register — and what happens when shares change hands.
How shares work in a Jersey company, from deciding them in the application to keeping their register.
- 2 Before you apply · 33%
- 2 Straight after · 33%
- 2 Every year, and every change · 33%
- 5 You · 83%
- 1 Done for you · 17%
Decide them before you applyYou
The application asks whether the company may issue shares, and what it says must match the memorandum: how many it may issue, of what classes, and — in a par value company — the value written on each. Later changes to its share capital are made by special resolution.
Share certificates, within two monthsYouWithin two months
Within two months of issuing shares, or of a transfer being lodged, the company has the certificates ready — unless its articles say otherwise or the member waives the right in writing. Under the standard articles a certificate is sealed, or signed by two directors, or by one director and the secretary.
The register of members is the recordYou
The company keeps a register of its members: each one’s name, address, shares and their class. Members may inspect it free; anyone else can, for a fee. It is the record that says who owns the company — keep it current.
Selling or giving sharesYou
A transfer is registered only with a written instrument of transfer, or as the articles provide. If the company refuses to register one, it tells both sides within two months. A change of who owns or controls the company is also notified to the Registry within 21 days.
What 50% means for Social SecurityDone for you
Owning 50% or more of a company’s shares counts as substantial control: Social Security treats you as a Class 2 contributor.
Keep going
- Appoint a company secretaryWhat a company secretary is, who can be one, whether you need one at all — and what the role is not.Open
- Employ someoneThe registrations and the monthly return that come with a first employee.Open
- Start a companyForm a limited company: who it needs, its office, its rules, the application — and everything that follows, in order.Open
- All of it, in orderPlan my start draws every journey you need, for your place, with your costs.Plan my start
Words in this journey:Company secretaryDirectorMemberMemorandum and articlesSpecial resolutionClass 2 contributionsLimited company