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Setting up a business after Bankruptcy ... - Bankruptcy UK



Setting up a business after Bankruptcy …

I was declared bankrupt in Nov 2010 and given a 5 year restriction order. What would be the best way of investing in other companies? I would ideally like to set up a holding company and invest in various start up ventures.

First of all, you are still bankrupt which means that if you borrow more than £500 off any bank / person / organisation you have to declare that you are bankrupt. Secondly, you can’t be a Director or be seen to be influencing the running of a company in any way. However, there’s nothing to stop you from acting as a sole trader in the UK or being a director overseas. Problems can exist with restriction orders depending on what kind of agreement that you have signed. It would be helpful to know what your plans are in order to establish a clear route ahead.

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Bankruptcy UK

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