baio12 said:
Can you use nominee director in same country where you and your company are a resident so your name doesn't appear in public company records and in contracts with suppliers and customers? What still has to be in your name? Bank account I know for sure because they ask UBO but who else will have your information?
Payment processor ask for UBO but how do they know who is actual UBO? You can put nominee director when they ask for UBO?
Is nominee director illegal in any countries?
Click to expand...
Yes, you can do it, but keep in mind the so-called nominee director will always bear the full responsibility.
It is worth noting that, to a certain degree, all directors are “nominees” ”“ i.e. chosen or nominated”“ usually by one or more members of the company. However, in many cases, the term “nominee director" does not merely refer to a director of a member's choosing but one who will also act as directed and do what they are told. Indeed, in many cases, there are agreements to such effect. An important question is whether such agreements are effective.
You can look into regulated professional directorship services or trustee services providers, for instance. Perhaps they can be useful in your case.
Recent times have been a game-changer in this field.
The regulations have come with increased requirements for transparency, which make it increasingly difficult to remain truly anonymous.
A major initiator of this has been FATF. You can find some relevant reading:
https://www.fatf-gafi.org/content/d...ncy-beneficial-ownership.pdf.coredownload.pdf
There are certain jurisdictions that provide more anonymity than others, often for some very specific arrangements or structures.
E.g., some arrangements can be exempt from reporting or registration, provided certain conditions are met.
Last edited: May 16, 2024
