I wonder if the only reason for I need a PoA is if I appoint a nominee director and shareholder in my offshore company? What if I have a nominee director only and I'm the shareholder?
Will I need a PoA only if I insert a nominee director & shareholder offshore company?
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As long as you have a nominee director you will need a Power of Attorney in order to sign on behalf of the company.
Well, it is OK to ask if you don't know something. That's the only way you can learn something:bt:
No one should use a nominee shareholder who has more than 50% interest in share. Any situation requiring a nominee shareholder greater than 1% is not advisable. Usually that is all that is required to meet public record requirements when incorporating in a jurisdiction having such a requirement. PoA are only required when someone else "owns" the company. Legally, when such a company is dissolved, the company owes that percentage to the nominee shareholder.
Nothing wrong with being a shareholder. You could be a 100% shareholder and still never receive a dividend. The Director of the Company could refuse to distribute. There is nothing wrong with a one man operation. You could be Director, Shareholder, and Signatory without creating an 'alter-ego'. It would take some education, but very very feasible. If you are going for the cheapest route possible you could do a one man operation with one offshore layer. Again, you need the proper instruction. Also, your endeavors have not been disclosed, which could alter the method.
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