The Ltd Co route

[infinitelyannoyed]

I have searched the forums and cannot find the answer to this and thanks to those who have replied to my PMs too.

I want to go down the route of setting up a Ltd Co using a formation service. To get the bank account I assume I have to be the director and get it opened it my name. So how can I supply my details to ebay & PP? I am limited on my details already.

So then if I nominate, who and where do I get ID for them from when I get asked by PP?

This would be to sell legit, no foo foo stuff.

I am all go for setting up the Co and registering a domain, but then get stuck on who is the director ...me? and do I then come off and put someone else down as a director.

This is my plan...and I remember reading a thread where it said a couple of these stages are secrets! I can't work the secrets out :(

Also, can I start selling straight away as it is a ebay for a Ltd Co...or do I wait before selling?

[NoneOther]

If you don't want to use your own name then you have already answered your own question really.

As for ID, you probably already know the answer to this too. How are any stealth docs supplied?

[infinitelyannoyed]

By being creative?

What if I have an ID of a person I could use? Shall I use that name?

So I have to become the Director first? This is my first obstacle.

Thanking you NoneOther...

[NoneOther]

Be careful of using someones real details, being creative is far safer.

[infinitelyannoyed]

Ok so I set up Ltd Co in my name...transfer into Stealth ID...
How do I go about getting 'disconnected' from bank account...or does that stay in my name?

[NoneOther]

If it's a Ltd Co then the bank account is in a company name not an individuals

[infinitelyannoyed]

Aaaah ok....

That solves that part for me.

Thank you!

[Stigger]

Originally Posted by NoneOther

If it's a Ltd Co then the bank account is in a company name not an individuals

may you know what banks have there cards like this ?

i have a x2 ltd and both are not like that, they have company name on cards but also me and thats the name i have to use when using the cards, both different bnks.

i have x3 bus accounts with different banks and all are the same as above.

[GreenBean]

Tiz, dont split hairs too far.

The comment was bank accounts and nothing specific was said about cards. You brought that up. Do a quick re-read.

[Stigger]

ok swap the word card for bnk account and im not splitting hairs , its a genuine question.

i have only had one account as described as above and they are now closed A&L

[GreenBean]

That works for me.

What banks did you use?

Are these outright business bank accounts ?

Some RBS accounts might be similar

[Stigger]

Originally Posted by GreenBean™

That works for me.

What banks did you use?

Are these outright business bank accounts ?

Some RBS accounts might be similar

so far i have used Lloyd's, Barclay's and alliance and Leicester. the first two are as i say, the 3rd bnk no longer exists as they we taken over by santandare.

yes full on business accounts for ltd company's, even when creating sub bnk accounts, they still have my name on as well as what ever business name i create.

to add the accounts to PP i have had to add the name ie mine not the businesses, i have a work around for this but i would like to know which bnk are different to whats discribed here.

[infinitelyannoyed]

Am I right in thinking if my credit record is not too great I am not be able to get a Ltd Co bank account. Also if I am the named person on the account...does this mean I am the face behind the Company...so it cannot be a stealth ID.

Confused

[oompaloompa]

the director of any ltd company can be looked up online, so work from that premise.

[Stigger]

Originally Posted by infinitelyannoyed

Am I right in thinking if my credit record is not too great I am not be able to get a Ltd Co bank account. Also if I am the named person on the account...does this mean I am the face behind the Company...so it cannot be a stealth ID.

Confused

No mate, if you go to the bank yourself you may have trouble even with a very good bp.

There are places that will get you them for a small fee or free.

Anyone can be a director, there are other ways to add bnk account anyway.

[infinitelyannoyed]

Do I have any disadvantage by using a Ltd, but just adding a normal bank account?

If I get someone else to be director and then change the director to a stealth...can Feebay still see previous director if they search for the Co online?

Thanks for the help guys!

[they_screwed_me_too]

one of my suppliers of postal supplies is a limited company

he is all legit and squeaky clean

his PP got limited

had to supply all the COMPANY documents AS WELL as his own to PP

took a month to get reinstated

almost destroyed his business

[Stigger]

He's one of the lucky one's then.

i hope he completly removed his real ltd from pp and started using stealth.


Otherwise he will be one of the unlucky one's one day.

[they_screwed_me_too]

Originally Posted by TizWoz

He's one of the lucky one's then.

i hope he completly removed his real ltd from pp and started using stealth.


Otherwise he will be one of the unlucky one's one day.

cant tell him anything tiz

hes straight as a straight thing

wont hear of stealth

1 legit ebay account and 3000 sales a month

eggs/basket springs to mind

he believes in ebay being honest and true

it will all end in tears

you are correct

[oompaloompa]

the above forumers are correct, a ltd company is an option but not the only way, alot of hassle just for ebay, you can just register am ebay business account in a DBA name.

If you happen to use your ltd company for other things anyway, by all means make an acc with it too.

[slim jim]

just should be careful when making a dba vs ltd/llc/inc. you will be paying taxes on your sales and the deductions are much better for ltd/llc/inc. compared to dba. it's worth the time and money to do ltd/llc/inc. here it is pretty easy you can do it online and i got my paperwork within 1 week. i did it myself and it cost $160 for an inc. and the ein is free

[GreenBean]

rabbi.

The poster is from the UK.

Different situation.