The main task of this Nominee service is to ensure privacy and confidentiality. A Nominee Agreement allows a nominee director to sign all company documents on behalf of the beneficial owner. Usually nominee services for offshore company are used in cases when an owner does not want his name to appear in corporate documents, contracts and agreements between the partners or in the commercial register of the jurisdiction.
Another task is to establish the customer’s company in his chosen jurisdiction. In some jurisdictions, it is a legal requirement that at least one of the directors of the company is a resident of that particular offshore jurisdiction. In this case, an agreement could be signed between an owner and a director who is currently residing in that country.
This person is not the legal owner of the shares; he or she simply shields and protects the customer during any possible public inquiry by representing the owner of the company. In this way, the customer is formally distanced from his offshore company at the ownership level. At the same time, the customer can prove that he or she is the owner of the company whenever he or she chooses, by way of producing the supporting confidential documentation provided by World Offshore.
How nominee services for Offshore Company are secured:
To provide the highest level of security, World Offshore uses a Nominee Agreement. It is issued by Common Law and guarantees that nominees can only act or sign documents when the owner requests it or gives prior approval. There are two parts in the agreement which the owner needs to sign.
Power of Attorney is signed between the beneficial owner and nominee director. This document allows the director to sign all company documents instead of the owner while the owner still controls the company.
The Declaration of Trust agreement is signed between the beneficial owner and the nominee shareholder. This document shows that by means of a trust, the owner can transfer his property to an independent third party, or trustee.