How many guarantors can a company limited by guarantee have?

0

Hello

Some mates and I would like to incorporate a limited by guarantee company as part of a new community music thing we are doing, and we all want to play an equal role and share the responsibilities. It seems like being a guarantor is the most responsible role you can take on, so we all want to do it. Only thing we don’t know is whether we can all be guarantors. Are there any rules about how many a company can have?

Cheers

Answers

0

There are no rules to restrict the number of guarantors your limited company has, as long as you have at least one. As a guarantor, you will be an owner of the company and required to guarantee a certain amount of money to the company in the event of its insolvency. Most guarantees are just £1.

You must also appoint a minimum of one director to manage the day-to-day activities of the business on behalf of the guarantors. You can appoint as many directors as you like, so it is possible for each guarantors to also be a director.

a year ago
 

Your answer