Nominee director or not? and will I need nominee shareholder?

[stuntbiker]

I want to manage the company myself with my partner. Why should I use a nominee director? I don't care about privacy or anonymity.


I want offshore company formation to protect if something goes wrong so I can protect my products and money.


(Sorry for my bad English)


Is it required to have nominee shareholder for offshore company if it will be better with nominee director too?

 

[JohnLocke]

First, it is not required to have both a nominee director and shareholder, you can just pick one of them.


If privacy and anonymity isn't a issue then you don't need them and it is not mandatory to have any nominees appointed. However, for asset protection it may be better with at least a nominee director so you may be able to proof that the company isn't controlled directly by you which will be requirements in a trial to convince lenders or creditors that they can't touch your assets in the offshore company.

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[stuntbiker]

Do you say that it is required to have privacy for the company to protect my assets? Why is that?


Can you explain will the nominee director have access to my bank account?

 

[JohnLocke]

What I say is that it is best to have nominees appointed to ensure that your company is recognized by any lender's or creditors as an entity not owned by you, it will as well be less complicated to prove that if required.


And NO, the nominee director will not have access to the companies bank account only you will have access to it.

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[stuntbiker]

Okay I see sounds good. Will the nominee be one from the Seychelles or is it a company from somewhere else or??

 

[JohnLocke]

It depends very much on what kind of nominee director or shareholder you will need, if it is a corporate nominee then it will be a Seychelles company, if it is a natural nominee then it of course won't be.

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[stuntbiker]

I will need them to sign documents some times. So it will need to be natural nominees, will they be in Seychelles?

 

[JohnLocke]

Even corporate nominees we can get to sign any documents you need, howeverm they are located in the Seychelles yes.

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[stuntbiker]

Will be better to have the nominees to be in Seychelles or better to have it in other country?

 

[JohnLocke]

Actually for the nominees it dosen't matter in regards to anonymity.

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[stuntbiker]

Can a friend of mine be a nominee director for the company or will he be director only?

 

[JohnLocke]

Yes he can be a nominee director theoretical, however, in real he will simply just be the director of your offshroe company.

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[bitotan]

This thread makes really sense... but I need to know what the renewal fee is for a nominee director and if it really matter that he is a natural nominee director if I want him to sign on documnets?

 

[JohnLocke]

The renewal fee depends on which jurisidction and what type of nominee director you have appointed... you can check the fees on the website, for instant Seychelles nominees can be found here: Seychelles Company Registration | Seychelles Company Formation | Register Seychelles Company

Last edited: May 29, 2016
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[dpastco]

i am seriously late to this topic, but my question fits perfectly here

Admin said:
If privacy and anonymity isn't a issue then you don't need them and it is not mandatory to have any nominees appointed. However, for asset protection it may be better with at least a nominee director so you may be able to proof that the company isn't controlled directly by you which will be requirements in a trial to convince lenders or creditors that they can't touch your assets in the offshore company.
Click to expand...

I do understand the function of nominee's, but i have problems understanding their value (in terms of a added layer of security).


Does the protection only apply to private law suites and claims? Because when it gets to criminal tax cases, or any privacy matters at all, i do not see how nominees protect (me) further.


If there is any valid legal title to provide the information about the owners of the company, the weakest link is not the registry, its the bank. The bank always has my ID and needs to disclose it (when they are legally forced to) including the beneficiary owner from what i understand.


But most offshore Jurisdiction also only open books in exactly those cases, so it seems to me that there is no added layer of security, because when the registry needs to open, the bank also would need to provide, and they always have the information.

 

[JohnLocke]

You may find some detailed information about nominee director and shareholder at this link: Offshore Company Forum - Nominee director and shareholder.

Last edited: May 29, 2016
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[clemens]

Nominee director and shareholder add's additional layer of privacy but not towards the bank if that is what you try to achieve.

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[JohnLocke]

As mentioned, if you try to hide your identity towards the bank it won't work with nominees, if you try to achieve the same towards your clients / customers it works perfectly fine.

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[Cyrus05]

stuntbiker said:
Can a friend of mine be a nominee director for the company or will he be director only?
Click to expand...

I think there's no one forbidding anyone to be a nominee director. Even a family member could be one of it. As long as the requirements and capabilities are being held by them, they could be it.

 

[negon]

If you are forced to sign contracts or similar on behalf of the company and you don't want to sign with your own name and identity a nominee director can be the solution to avoid it.