How to protect bank account when using nominees?

[Patrickcos]

Hello all,
I am thinking about incorporate a company with nominee director and shareholder.
My question is what kind of ways, solutions I got to protect my bank account, I mean to not let the nominees access funds without my authorization?
Thank you

 

[Sols]

You can ask to be a co-signatory on the account and insist on a two-step approval for outgoing payments, where you need to sign off on transactions. The problems with that are it might shift the company's tax residence, not all banks allow it, not all nominees allow it, and it can slow your business down.

Speak with your nominees about it. If you feel that you can't discuss it with them, find nominees that you actually trust...

 

[dotpedal]

What’s the advantage of a nominee shareholder? Never understood the point