True, your name will not appear anywhere!yancy said:Thank you.. so if I appoint a nominee director and shareholder NO WHERE in the company documents my name will appear please confirm?
Yes sill required, but only for internal use.. it would require a court order to get the information released which is very difficult to obtain unless you are into any financing of terrorism.yancy said:That's actually good news. Will I have to provide passport copy and all this other stuff?
Most often the nominee director will sign the contracts or agreements etc. on behalf of the company, yes.tariq said:Will the nominees sign contracts for the company?
Yes that is correct BUT BE AWARE that the nominee director/ shareholder is the legal owner of the company.yancy said:Thank you.. so if I appoint a nominee director and shareholder NO WHERE in the company documents my name will appear please confirm?
So it is good for the bank to know who the ultimate beneficial owner is and it is perfect that the ultimate beneficial owner is listed in companies record and that the nominee's have no power to execute any transaction on behalf of the company without written permission from the ultimate beneficial owner thanks to the declaration of trust.hugger said:Yes that is correct BUT BE AWARE that the nominee director/ shareholder is the legal owner of the company.
Similarly, if the Bank account is in the name of the company and the Nominee Director is the signatory to the account, then BE AWARE that the nominee director is the legal owner of the Bank account (and all its contents).