Why use Nominee services?
In order to guarantee their anonymity, most offshore companies use nominated directors and shareholders. Some offshore locations have rules and regulations requiring the identities of directors and shareholders to be reported by the Company Registry, and then open to the public domain. If customers want to locate their Offshore business in one of these jurisdictions, they would need to select nominated directors and shareholders to ensure that their information are kept private and confidential.
Nominee Directors
A nominee director is an officially recorded intermediary who acts as a director of a company.
That is completely legal and it used by many businesses for a number of purposes. The names of company directors are placed on the public record in some jurisdictions. The nominee director serves as a proxy for beneficial shareholders. The person indicated by the power of attorney acts on behalf of the corporation on the basis of that document and as a legal attorney, may sign papers, contracts and open bank accounts.
The power of attorney, for a duration of one year, is provided. This service needs to be renewed periodically and can be stopped on request at any time.
Nominee Shareholder
The nominee shareholder is named to protect the company’s real owner from publicly associating himself with the company’s ownership. That is completely legitimate.
When you nominate a candidate to hold shares on your behalf, your benefits will be covered without making public your personal information. Your shares are kept under Trusts that are backed up by a legal document called a trust declaration, signed by the candidate.
The declaration of trust notes that the shareholder is obliged to follow all of the beneficiary’s orders regarding dividend allocations, resignation, resignation of shareholders, share transfer, etc.
The trust declaration shall be issued for a duration of one year, the service shall be renewed annually and may be terminated on request at any time.
