nominee-services

 

What you need to know…

 

The institution and development of nominee directors and shareholder has been in existence for a long while in many countries as well as Cyprus. The nominee shareholder is the nominee holder of the shares who hold shares registered in his or its name in favour of another individual, the beneficial owner under a trust-type contractual relationship.

The nominee director is the nominal executive body of the company acting on the behalf of the beneficial owner by written and / or verbal instructions. The nominee director is to sign the letter of indemnity with the beneficial owner which indemnifies the nominee director from any kind of claim by creditors or by the authorities etc.

 

Legal Requirements

 

An International Business Company by law should have at least one (1) shareholder, one (1) director, a secretary and a registered office. A question always raised by clients is “why have nominees?” For the simple reason being that they can act on your behalf during the initial registration process which includes the opening of bank accounts and so forth without you needing to be physically present in Cyprus. Confidentiality and anonymity is guaranteed but in practice, you will be the beneficiary of the company. Trust deeds along with an instrument of transfer which authorises the nominees to hold shares on trust for the undisclosed beneficiaries are always given to the beneficial owners.

If it is the case that the beneficial shareholders require complete anonymity, then it is arranged for our own private individuals or companies to be used to hold the shares on trust without the names of the beneficial shareholders being disclosed publicly. If however, the beneficial shareholders do not need anonymity, then the shares can be registered in their own names.

The good news is that part of our service includes providing you with nominee director services as well as act on your behalf as secretary of the company whilst providing you with a registered office address.