Beneficial Owner change
I have my business set up on Amazon correctly as a ltd company and both beneficial owners were verified a while back
Beneficial owner #2 has now left the company. Does anyone know the correct/safe way of updating this in Amazon without having my account deactivated or anything like that?
Beneficial owner #2 should be removed but I’m tempted to leave it as it is to save risking the account, but then again I might get randomly deactivated later if they do a check.
(fear stems from being deactivated a few years back when I changed address)
0 replies
Seller_rGtEcZnu0JTRD
Problem with this will be that if this beneficial owner goes elsewhere and is registered on another account, then they would rightly say the 2 accounts were linked, so you really should deal with it correctly.
Can’t remember how we did it, but we have made changes to Directorship, and ownership in the past without any issues.
Would be very surprised if Amazon do not have all limited companies on automatic monitoring for change of details, so don’t think it is something you can avoid, this is easily set up and we do monitor all of our supplier and customers in this manner, and we are only a little fish compared to Amazon.
Seller_77IcbQKVGdZo0
You should remove it from Amazon. It will be a lot worse for you if Amazon find out that the beneficial owner has left and you have not told them.
The best way to do this is
- Remove Beneficial Owner From Companies House
- Pay for a new Confirmation Statement showing the new shareholding in the company (ie 100% to Beneficial Owner 1)
- Remove beneficial owner on Amazon and start verification. Upload the new Confirmation Statement when asked.
I have known Amazon to pick up on Companies which have been struck off on Companies House and suspend them. So they may pick up on Beneficial owner changes as well…I wouldn’t take the risk
However there also companies which have been dissolved still trading on Amazon so they don’t pick up on every change!!
Seller_7VbclcPFFRTnc
You’ll need to amend the info at CH then remove them from amazon
Seller_Sp0MDHOM1olT2
Thanks all and yes probably better to deal with it now than have it sprung on me later.
Doesn’t seem to be a way to change it in my account so I’ll have to run the gauntlet with SS I guess
Seller_Sp0MDHOM1olT2
Cheers again, yeah sorted at companies house. Verification process begun with Amazon. Fingers tightly crossed now
Seller_xGbawvIiJJO6X
Hello
Does anyone know the process for ADDING a Beneficial Owner?
I would guess…
- Add on CH
- Upload new BO passport to Amazon when adding BO in Seller Central?
Would there be anything else?
Thanks
