Hello,
I work in Policy at CH. I understand that the world of PSC is potentially a minefield. I can’t say definitively whether a company will have PSCs, but on the surface the situation you outline seems to suggest there would be no PSCs.
It isn’t necessarily only niche cases that won’t have PSCs, if there are 4 or more shareholders with equal amounts of shares and none of the other conditions come into play the correct answer will be “there is no registrable person or registrable relevant legal entity”.
I’ve added a link to a video below, which is on our website and goes through some basic examples of working out whether or not a company will have PSCs.
Hope that helps
Stacey