Elite Formations offers its clients the option of taking on a nominee director and/or nominee shareholder. We can offer you a complete A to Z package that includes these services.
The primary purpose of using a nominee is in order to grant the beneficial owner of the company and additional layer of confidentiality thus shielding him from any public connection to the company. This may be applied to several levels, according to the wishes and circumstances of the beneficial owner.
The main objective of the Nominee Director is to ensure that the actual beneficial owner of the company retains his confidentiality. In order to accomplish this goal, each client’s demands and particular circumstances are taken into account before reaching a final agreement.
A nominee director is not there to interfere with the IBC Company’s business activity; his role is merely to act as the director representative of the company, retaining the beneficial owner’s privacy. The nominee director is more for an official role than an active one. The beneficial owner is responsible for all transactions and business dealings of the company. The beneficial owner receives a Power of Attorney from the nominee director so that legally he can perform all business transactions on behalf of the company. In addition, when opening a corporate bank account for the company, it is the beneficial owner of the company who is required to sign the forms in most cases.
In a similar fashion as with the Nominee Director, a company shareholder might unfavorably influence or sabotage the level of privacy and secrecy. For the purpose of shielding the ties to the business, an owner of the company might require Nominee Shareholder services. Seeing as it is a more of an inactive role compared to the role of Director, a Nominee Shareholder service is offered and provided in a much more simplified way.
Nominee Director and Shareholder services may be obtained with a simple process when purchasing your own Company. We strive to ensure the smoothest incorporation with minimal fees, non-existent taxes and maximum privacy protection. By creating an offshore company you will have all of the ultimate conditions to retain confidentiality while operating a business in your desired way.
A Power of Attorney
A Power of Attorney is issued in the name of the nominee director and shareholder to the beneficial owner. The Power of Attorney can be both limited and unlimited. On the basis of the given document, the person indicated in the Power of Attorney, acts on behalf of the company and can sign documents, contracts and open bank accounts on behalf of the company. As a rule the Power of Attorney is issued for a period of one year.
Declaration of Trust
Another of the primary documents regulating legal relations within the institution of the nominee service is the Declaration of Trust. The Declaration of Trust is issued by the nominee shareholder to the real owner of the company. The Declaration of Trust sets out that the nominee shareholders are bound to fulfill all the instructions of the beneficiary in relation to allocation of dividends, shareholders’ resignation, share transfer etc.
An obligatory condition for the use of the services of nominee directors and shareholders is the entering into of an Agreement for the Provision of Nominee Services. This agreement is signed by both parties (nominee and beneficiary) in two copies and forms a guarantee of security for both in the event that any dispute should arise.