Advice needed - possible entity change
Hey everyone,
So i've been running my seller account with a friend for the past 3 years but we have decided our finances are too intertwined and we are now looking to venture into amazon with our own individual accounts. We currently operate as a LTD company but would be looking to have one of us removed from this account and the entity changed to sole proprietor and then the other would set up a fresh account with different bank info, identity info, business address and so on..
I'm wondering if anyone has any similar experience with this or knows anything about the process as I feel that this is going to inevitably cause problems with verification, potentially multiple accounts issues etc.
To be clear we are two separate people looking to operate two separate businesses that may overlap in categories
Would this be as simple as ceasing trading under the LTD, switching business entity and removing one of us as beneficial owner?
I appreciate any help/advice!
Thank you :)
Advice needed - possible entity change
Hey everyone,
So i've been running my seller account with a friend for the past 3 years but we have decided our finances are too intertwined and we are now looking to venture into amazon with our own individual accounts. We currently operate as a LTD company but would be looking to have one of us removed from this account and the entity changed to sole proprietor and then the other would set up a fresh account with different bank info, identity info, business address and so on..
I'm wondering if anyone has any similar experience with this or knows anything about the process as I feel that this is going to inevitably cause problems with verification, potentially multiple accounts issues etc.
To be clear we are two separate people looking to operate two separate businesses that may overlap in categories
Would this be as simple as ceasing trading under the LTD, switching business entity and removing one of us as beneficial owner?
I appreciate any help/advice!
Thank you :)
5 replies
Seller_kh77A9MtOsq7P
What you are trying to do is a minefield. If you open new accounts, they will link you and ban you. Best luck with it, I would recommend you stay as you are and divvy the profits accordingly, what you are trying to do will be a whole world of pain.
Seller_QporLcVnvn2HY
I did something similar and had no problems ... just make sure you change entity on the existing account before you start to open the new account ( making sure you remove all trace of anything connected with the person opening the new account )
Seller_r6qYCQEPIL4aI
May be best to transfer full ownership to one of you, keep the LTD open with one shareholder / director. Then 2nd person can open their own (solely owned) LTD. As long as details are correct and updated in Amazon, shouldn't see any issues
Spencer_Amazon
Hello @Seller_xsUIEziXtHJ9k,
You received some great advice, I hope you will be successful separating your company.
Good luck!
Regards, Spencer
