Amazon Account opening
Hi , I have a person who can open a 4 to 5 companies in UK for business . He has offered me to open a company with joint owner ship with hum being at 51 % shares and me at 49% . Her is also running his own store at amazon.co.uk . If i open account on such company does this create the linkage issue. Do we have to declare him as partner in amazon account ?
Amazon Account opening
Hi , I have a person who can open a 4 to 5 companies in UK for business . He has offered me to open a company with joint owner ship with hum being at 51 % shares and me at 49% . Her is also running his own store at amazon.co.uk . If i open account on such company does this create the linkage issue. Do we have to declare him as partner in amazon account ?
1 reply
Seller_d8YGbIjNqwFxn
Yes he will be linked to another Amazon account. If that account gets suspended for any reason then yours will get suspended.
You will need to declare him as a beneficial owner to Amazon as he is the majority shareholder and owns above 25% shares.
Also how much of the work, investment is he putting in for his 51%...make sure it is worth it as you could give half your profits over to him.
You could get into trouble if you sell the same items as his account as well. You are not really supposed to list the same items on 2 separate accounts owned by the same person.
Also read up on the VAT rules as you may have to register for VAT from day one as well. There are certain rules where if someone owns more than one company they have to register them for VAT even if the company trades below the 95K threshold
