Thank you for your question! In the United Kingdom, a private company can either be limited by guarantee or limited by shares. A company limited by shares is the typical corporate form for profit-seeking entities in England and Wales. The liability of its members is limited to the amount, if any, unpaid on the shares held by them. A guarantee company is more suitable for not-for-profit organizations.
English company law does not distinguish between a management board and a supervisory board. All directors form one board and each has the same obligations and accountability to the company regardless of whether he is an executive (typically employees) or non-executive.
Private companies (including LLCs – or LTDs as they are referred to in the UK) must have at least one director and public companies must have at least two directors of which at least one must be a natural person. I hope this helps.
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