Why it is better to have a nominee director?
- Thread starter blizz
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It totally depends on your situation and what you are willing to do. Many (and I mean really many) of this forum realized that it is way cheaper (long term) and easier to use darks. and the level of privacy increase dramatically.
However, if you plan to use a real bank for instant in Cyprus or anywhere else it won't work with darks. and you want to appoint a nominee director AND shareholder.
However, if you plan to use a real bank for instant in Cyprus or anywhere else it won't work with darks. and you want to appoint a nominee director AND shareholder.
Nominee Shareholder and/or Director is for Privacy on corporate documents in jurisdictions with Public Registry.
If you need High level of privacy with the bank, you must use a Fiduciary Service or a new residency. Why?
Because if you use a Nominee Director the bank will know you as UBO, while if you use a Fiduciary Service the bank will know the Fiduciary as UBO.
Advantages of Nominee Director:
- cheaper than Fiduciary Service;
- Privacy on corporate documents in jurisdictions with Public Registry;
- Direct control (bank account);
- The Director does not intervene in the negotiation and signing of contracts on behalf of company .
Disadvantages of Nominee Director:
- The bank knows you as UBO;
- Automatic Exchange of Information.
Advantages of Fiduciary Service:
- Privacy on corporate documents in jurisdictions with︀ Public Registry ;
- The bank don't know you as UBO;
- The Fiduciary intervenes︁ in the negotiation and signing of contracts on behalf of company;
- NO Automatic Exchange︂ of Information.
Disadvantages of Fiduciary Service:
- More expensive than Nominee Director;
- No Direct︃ control (bank account).
If you need High level of privacy with the bank, you must use a Fiduciary Service or a new residency. Why?
Because if you use a Nominee Director the bank will know you as UBO, while if you use a Fiduciary Service the bank will know the Fiduciary as UBO.
Advantages of Nominee Director:
- cheaper than Fiduciary Service;
- Privacy on corporate documents in jurisdictions with Public Registry;
- Direct control (bank account);
- The Director does not intervene in the negotiation and signing of contracts on behalf of company .
Disadvantages of Nominee Director:
- The bank knows you as UBO;
- Automatic Exchange of Information.
Advantages of Fiduciary Service:
- Privacy on corporate documents in jurisdictions with︀ Public Registry ;
- The bank don't know you as UBO;
- The Fiduciary intervenes︁ in the negotiation and signing of contracts on behalf of company;
- NO Automatic Exchange︂ of Information.
Disadvantages of Fiduciary Service:
- More expensive than Nominee Director;
- No Direct︃ control (bank account).
Yes thank you.. I have sent e-mail to @auric company and got details today!
@Internationaloff thank you very much, all of it will not protect my privacy like the darks do!
@Internationaloff thank you very much, all of it will not protect my privacy like the darks do!
@Internationaloff And no control of bank account also won't risk of our funds been misused or robbed of it?
I would at any time prefer DARKS compared to Nominees. DARKS and one of costs nominees are ongoing costs. Darks you are limited to EMI providers Nominees to real banks which f**k you over at any chance and have very high fees!
What if the bank decide not to like your business and longer and ask you to provide lots and lots of documents in an endless chain of questions and requirements ???
But with Fiduciary Service, can't they open account under their name as UBO, but let me operate it, we can use VPN to do that, or is there something I am missing? The risk with fiduciary service is that what if they rob me of my money, you never know so it's best to control your own bank act.
You're talking about nominee bank signatories. They're similar but just for the bank account (often used along side corporate nominees though). Yes this is one way to avoid being reporting as UBO under the AEOI. And yes the risks are that︀ they are the controlling party of the bank account. You rely on your management/nominee agreement︁ as proof of ownership and hopefully find a reputable & trustworthy company to handle this︂ for you. You also pay fees for them to make each of the bank transactions︃ you require.
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