Explain Nominee Director advantages

[manager]

I still don't understand why I would need a nominee director for my offshore company. I was told that it is used for more security and privacy.


Could somebody explain me what this mean? In which situations do I need a nominee director?


I am doing nothing illegal so why would I want to hide my name? What are the other advantages?

 

[JohnLocke]

Most often a nominee director and shareholder is used for privacy and anonymity and at jurisdictions where the beneficial, ultimate beneficial owners and director(s) of a company are listed at the public registrar.


Another scenario could be that you for any reason don't want to sign any contracts / agreements on behalf of the offshore company but rather want the someone else to do so, then a nominee director can be appointed and he/she will sign for the company. In that way your name won't be revealed.


Ant I'm sure there are more examples on where nominees can be used. Please bear in mind that it won't help you in regards to the bank account since almost any bank worldwide will ask for the beneficial owner's data and docs.