Overview of Nominee Service

 

The institution of nominee service is a system of contractual relations between nominee owners, nominee managers (directors and shareholders) and actual company owners (benficiaries). Such a system of relationships developed over many years together with the establishment of the offshore business itself. The reasoning behind nominee services is to protect the identity of the client, ensuing discretion and anonymity. The motive of using nominee services is so that the nominee person(s) appears in the corporate documents instead of the beneficial owner of the Company. However nominees have no control over the company and are not entitled to manage. A nominee is a person who takes a superficial interest in the Company's business and is basically there to sign documents and accept appointments. Nominee services include Nominee Director and Nominee Shareholder.

 

Documents Required in a Nominee Service

 

1.Power of Attorney

 

Power of Attorney is issued in the name of nominee director to the Attorney. The Power of Attorney can be both limited and unlimited. On the basis of the given document, the person indicated in the Power of Attorney, acts on behalf of the company and as a legitimate attorney can sign documents and contracts and can open bank acounts. As a rule the Power of Attorney is issued for a period of one year.

 

2.Declaration of Trust

 

Declaration of Trust is issued by the nominee shareholder to the real owner of the company. The Declaration of Trust sets out that the shareholder is bound to fulfill all the instructions of the beneficiary in relation to allocation of dividends, shareholders' resignation, share transfer etc.

 

3.Agreement for the Provision of Nominee Services

 

An obligatory condition for the use of the services of nominee directors and shareholders is the entering into of an Agreement for the Prosvision of Nominee Services. This agreement is signed by both parties (nominee and benficiary) in two copies and forms a guarantee of security for both in the event that any disputes arise.

 

Advantages of the use of a Nominee Service

 

(1)the corporate documents do not indicate any details of the the beneficial owner but only of the nominee participants, in such a way that the real owner of the company remains unknown to third persons.

(2)it greatly simplifies the procedure of company’s registration: firstly, the beneficial owner does not need to visit the country of registration and sign all necessary documents.secondly, the registration of statutory documents takes less time, and, thirdly, it guarantees the delivery of documents at Companies House in time.

 

For further information or assistance, please feel free to contact us

 

Tel: (86.20); 37887606      Mobile: 13928789801 (You can inquire in English)

Fax: (86.20);37887609        E-mail:2291837655@qq.com

Wechat:563491716             Skype: zanyaco                  

QQ: 1502027480                 Website: http://www. companyformation86.com

Address: Room 1001, No.621, Tianhe Road, Tianhe District, Guangzhou, China