Complete a company formation project: section 4 Subscribers

Before you start

Before starting a company formation project, you will need to set up the prospective company as a client, then add a company formation project to it.

The company formation project has six sections. Section four has two subsections, the first is about Subscribers and the second about People with Significant Control.

Subscribers

  1. Select Yes if you want to produce share certificates for the subscribers.
  2. Select Add.
  3. Enter the full name of the first or only subscriber, or choose Select Existing Contact if you've already entered their details in Onvio Centre.
  4. Select Yes if the subscriber's Address for the Public Record is the same as the company's registered office, otherwise select No and enter the address.
  5. Select Yes if the Correspondence Address for the Company Share Register is the same as the Address for the Public Record, otherwise select No and enter the address.
  6. Choose the class from the Share Class drop-down list, then enter the number of shares in this issue to the subscriber in the Quantity of Shares field. 

    Notes

    • To change the options displayed in the Share Class drop-down list, select Tab 2 Corporate Details > Share Capital.
    • When you enter a quantity of shares, each share is automatically given a unique identifying number. 
  7. If the subscriber will be charged a premium on each share, select Yes for Shares issued at a Premium and enter the Premium per Share.
  8. If the subscriber has paid or part-paid the amount due for this share issue, enter the Date of Payment. 
  9. Select Fully-Paid, Partly-Paid, or Nil-Paid depending on how much the subscriber has paid towards the nominal value and premium for this issue of the share class. 
  10. If the subscriber has partly-paid, you will also need to enter the amount paid in cash towards the nominal value of each share. 
  11. If any of the subscriber's payment includes a consideration other than cash, enter the amount of the nominal value of each share paid for in this way and a description of this consideration. 
  12. Select either Fully-Called, Part-Called or Nil-Called depending on how much, if any, the company has required the subscriber to pay for this issue of shares.
  13. Select three security questions for the subscriber from the drop-down lists and enter three characters from the answer to each. 
  14. Select Save and Close.

  15. Notes

    • On saving, a shareholder relationship is formed between the company's client record and shareholder's client/contact record in Onvio Centre. If you try to delete a record of a subscriber's shareholding in this project, you will see a warning that the relationship will also be deleted.
    • The Share Class, Quantity of Shares and Identifying Numbers in a record of a subscriber's shareholding in the company formation project cannot be edited after saving. To change these details, you will need to delete the record, then select Add to make a new one.  
  16. Repeat the steps above for each share class issued to a subscriber.
  17. When the details of all issues of share classes to subscribers have been entered, select Next.

Next step

Complete a company formation project: 4 People with Significant Control.


Contact us

Was this article helpful?