First Corporate are pleased to announce a new nominee director service with a named individual based in Cyprus
For commercial reasons some owner clients of UK and offshore companies may wish to remain confidential and appoint a nominee to act for them.
Our nominee; appointee director and trustee shareholder, services (named individual) are not only used to help ensure the highest degree of privacy and confidentiality for the client by keeping client information out of public record at the company registrar but as we have a natural person, rather than just a nominee company, the client company is perceived to be more correct.
Subject to our usual KYC – due diligence requirements we can arrange for a nominee director, British passport holder and permanent resident in Cyprus, to act for them.
Know your client (KYC)
We will require the following.
A certified copy passport of the client (Ultimate Beneficial Owner – “UBO”) our officer is acting for.
A certified copy of two utility bills confirming that person’s usual residential address.
(Certified means they have to be produced in front of a solicitor who certifies on each document that they are correct)
In addition we need full details of:
The company’s activities, shareholders and any other officers.
Our standard “Terms, Conditions and Declaration by Ultimate Beneficial Owner(S) or Agent” of the company our officer is acting for.
The “director” will provide all necessary documents to ensure safeguards are taken in order that, as the appointed director, we will only act on instructions of the client or their authorised agent. Therefore, the ultimate beneficial owner (UBO) retains control over the important actions taken in their company.
The nominee will require to be informed on all matters including contracts, leases and movement of funds over the amount of GBP5000 in and out of the company’s bank account. This can be by simple email of board resolutions to be signed and returned for statutory compliance.
As “trustee shareholder” the client/UBO is provided with documentary evidence (“trust deed”) ensuring the ownership of their company resides with them. The shareholder will hold shares in trust for their benefit and deal with or dispose of the shares as the client/UBO or their agent may instruct.
£750 plus vat per annum. Any matters dealt with by the appointed officer upon request of the client will be charged and should be agreed in advance. A copy of our standard fees will be provided upon request.
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This post was written by Steve Blackmore