Our valued sponsor

Personal issues

clemens

Corporate Services
Mentor Group Lifetime
Jan 2, 2009
2,935
1,045
113
Spain
Visit site
hmm, no one is smelling the damn SPAM and hidden advertising in this thread :evil: Admin, you will soon owe me a beer

150px-Marston's_Oyster_Stout_01.jpg

hugger, may I ask what your Agenda is? It seems you found a trustable firm, why do you have a desire to mention them at every oportunity?
I am in the process of setting up an offshore company through Sovereign Group in London using a Nominee Director.
Be our guest, why post your crap here? Maybe you are from Sovereign Group and in need of clients?/monthly_2012_03/574741c8e2a95_150px-Marstons_Oyster_Stout_01.jpg.4d5e49f60ab99dd0af50bd2db6716b12.jpg
 
dwilson said:
Hi Admin,
All AML Regulations require financial institutions to have knowledge of the Directors, Shareholders and Beneficial Owners. This is the hallmark of the FATF regulations upon which all global anti money laundering legislation complies with. The examples that you listed are all publicly listed companies. Exemptions are given on publicly listed companies since shareholder KYC must be held by the exchange or a licensed intermediary and there would be some recourse in the event of an investigation to determine the identity of the owner of a share at any given time.


Secondly, any third party can operate a bank account on behalf of an entity given the correct approval. In this case, a director's resolution, power of attorney or letters of administration can authorize a non-officer of a company to operate an entity's bank account.


Lastly, the purpose of the management agreement is not to prevent fraud, malfeasance or misappropriation. It allows for recourse from the beneficial owner, which is all you can ask for really! Alternatively, you can ask the nominee director to issue an undated, signed resolution and resignation letter removing them from office. However, the risk will be that you effectively back date a document which is mostly unethical if not illegal. Risk is a part of business and many times, your going to find that solutions don't do exactly what you want. Sometimes you have to go with the 80/20 rule.
Addressing your questions directly to Admin seems to me more like you have a tactical game going, dwilson? Or why are you PM'ing my partners with your service? Is your business going that bad that you need more clients?