Nominee services are typically provided by an intermediary to disguise the beneficial owner's business. Nominee services refer to nominee shareholder and nominee director. As a rule, the nominee services should also be a post office box service (office address for correspondence purposes). Nominee services are suitable for large corporate structures for tax planning purposes and often contain international elements. For example, the final beneficiary is based in another country and not in the company itself. Nominee shareholder services are typically provided on the basis of a declaration of trust, with the nominee declaring that they hold shares on behalf of anyone else and are not entitled to make decisions in the company, vote at a shareholders' meeting, or receive dividends, it unless the customer has expressly instructed it to do so. The nominee has no right to sell shares unless the customer requests it. However, the client and the nominee can agree on certain tasks that the nominee should perform. Such tasks are often entrusted to lawyers and lawyers who are active in this field and who can protect the interests of the client. Nominee Director, also known as the "Shadow Director", who normally only appears for official records, while the company is practically managed by the customer by proxy. Based on the authorization, the customer can open a bank account and acquire full corporate management and control. Contact us now if you need nominee services in any jurisdiction!
Benefits of nominee services
The benefits of using nominee services can be seen in cases where an entrepreneur wants to maintain his privacy and reduces visibility in official records or does not want his name to be associated with the company in question. In addition, there may be a situation where a person has restrictions in performing the intended activity or when the law requires local management, such as a local secretary in Hong Kong. When quick action is required to register a business overseas in the event the client cannot travel, it is often more convenient to temporarily appoint a local business manager. When the intent is to open a business in a foreign jurisdiction such as BVI, Belize, Hong Kong, it can be physically complicated to show up in person. Nominee services usually guarantee confidentiality and anonymity. However, disclosure is sometimes made to a bank or investigative authorities during legal proceedings. The nominee services are widely used for tax planning and asset protection purposes. If the final beneficiary of the full corporate structure is based in low-tax countries, they should enjoy the benefits of the low-tax system on the dividends received from the profits generated. Other benefits arise from the country of registration and are often referred to in financial statements and reports. In some tax haven areas there is no need to present the annual financial statements, hence low auditing and bookkeeping requirements which offer certain benefits if the person is willing to increase privacy and confidentiality and hide their assets.