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Results 1 to 3 of 3
  1. #1
    Join Date : Jan 2014
    Location : London
    Posts : 136

    Default To Nominee or NOT to Nominee

    I plan to open a St Vincent/Marshal Islands company to sell online research platform (membership access). The incorporator is offering to add the nominee director from South Africa (not sure why a lot of the incorporators are using people from there).
    The only way I can use nominee director is to sign physical contracts (they do not charge anything for signature but the DHL costs would amount to 180 USD per contract). He might also shield me from liability when someone thinks we have infringed on their copyright (we never did).
    Do you think if we just use online terms and conditions and ask the clients to agree them upfront – I can avoid hiring this nominee? I could just sign up with all the banks and payment processors using my own docs as the director (which would still be shown at registration as I am the UBO)? I see that all firms need full sets of the documents on the director and UBO (each set costs like 180 Certification+60 DHL shipping from South Africa).
    Or is having a separate director makes the firm look less closely managed (less like a one man shop – I will still have employees)?

  2. #2
    Join Date : Nov 2014
    Posts : 427

    Default Re: To Nominee or NOT to Nominee

    Yes if you set out the terms clearly and client agrees with them then there is no issue. I would avoid nominees unless turnover is significant. You have to balance the cost verse revenue. There are many companies online that look larger than what they are and turn out to be one man shops when I looked at their filings. I would not worry.
    Revelations 13:16-18

    "And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads. And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six."

  3. #3
    Join Date : May 2014
    Location : Cyprus
    Posts : 130

    Default Re: To Nominee or NOT to Nominee

    The protection of your personal data is a valid reason for using nominees but of course you should always use nominees from a country which has legislation in place monitoring the conduct of professionals offering administrative services. Examples include Mauritius, Luxemburg, Cyprus, Switzerland, BVI etc. This will ensure your provider acts according to set legal standards and is also accountable. Other than that why not appoint nominees closer to the jurisdiction in which you are based to minimise personal liability.
    Take advantage of our free consultation contact me directly via PM

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