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Nominee directors. Status and functions

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Selecting appropriate management structure and people responsible for the company's activities is an important factor for the success of the entrepreneur and respect its confidentiality. Consider the status and functions of officers, a non-resident company.

Director of the company.

Typically, in accordance with the constituent documents, the responsibility for managing the company rests with its directors. The procedure for appointment and dismissal of directors determined by the charter and the memorandum of the company.

Requirements for membership and status of directors also differ between jurisdictions. Less demanding jurisdiction (Caribbean, Pacific etc.) generally do not impose any restrictions on these issues. In turn, the minimum number of directors for a company incorporated in Hong Kong or Ireland - 2 in Panama - 3.

Certain jurisdictions (Ireland, Denmark, Switzerland, etc.) stipulate that the company's directors were only individuals.

In most jurisdictions are required to obtain tax-exempt status of the company is that its directors were not residents.

Nevertheless, such jurisdictions as Cyprus, exhibited opposite conditions, ie - Directors (at least formal) are partially or totally must be residents of the country of registration. In this way those countries reserve the opportunity to immediately liable local directors for any company misdeeds.

In these, as in most other cases, the best option is to use the services of nominee directors.

Nominee directors.

Of nominee directors provides for persons whose names are recorded in the official register of the country as the directors of a specific company. At the same time, by signing the relevant agreements, those persons entrust the management company to its real owners (beneficiaries), and relinquish any action or material interests connected with this company.

In respect of nominee directors should also note another aspect - for example, concluded between the governments of Russia and Cyprus agreement on avoidance of double taxation is one of the most profitable in terms of Cypriot companies operating in Russia. However, such agreements take into account the location of the company. Therefore, the presence of resident of Cyprus as the directors of such a company to get the benefits of the treaty.

Of course, the nominee directors protect the confidentiality and security of ownership in any situation. Therefore, in most cases, non-resident companies registered with nominees as directors.

Typically, nominee shareholders and directors offer legal consulting firm for many years, professional services to clients and protected the confidentiality of the beneficial owners of the company.

To exclude the mention of his name in documents of the company (especially in countries where information about the companies is publicly available and can get anyone), we recommend the use of nominee directors and shareholders.

They will be featured in all the registration documents of the company, you also on hand to General Power of Attorney for the right to control the company through which you can manage the company in its sole discretion, to open and manage bank accounts. sign agreements and contracts, etc.

If on the nominees will need to sign any contracts or other documents, the issue will be resolved immediately.