Cyprus Ltd - director is corporate body nominee

[D0naldDuck]

Hi guys,

Lets say you have a CY Ltd. Secretary, Shareholder and also director are all nominees. Youre just the UBO.

Will it cause any problems with EMIs, banks, Paypal etc if the director nominee is another corporation instead of a natural person? I'm specifically asking because when registering for i.e. Airwallex, you need to go through KYC with all these passport selfie taking bulls**t for the director. How should a director-nominee-company do stuff like that?

 

[JohnLocke]

Yes, it complicates the process quite a bit. Not only do you need a passport and utility bill from each nominee, but you’ll also need the same for the directors employed by the company acting as a director for your Cyprus entity.

If you have all the documents ready, it’s not an issue. Otherwise, it can turn into a real mess.