PSC or Person of Significant Control is somebody who owns and runs your company. At times these people are also known as beneficial owners. Person of significant control is always related to the company. Furthermore, it must be noted that a company can have more than one PSC.
PSCs or Person of Significant Control is to be identified and the record of them must be kept in the company.
A PSC can be any person who holds 25% of voting rights or shares of the company. The details of these PSC should be maintained in the books of your company and should be mentioned in the company’s constitution and AOA along with the information on the voting rights.
Yes, it is necessary for every company to keep a record of the PSCs of their companies and file the same with the Company House. As for the companies registered on or after 30th June, 2016 will be required to file or provide the details of PSCs during the process of incorporation.
Also See: Limited Company Formation
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Sumit Agarwal Sumit Agarwal (ACMA ACA India), the Managing partner of dns accountants is a highly respected accountant with expertise in helping owner-managed businesses.
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