When do you need nominees?

[thenocoiner]

I am about to form my LLC in Nevis and I'm deciding if I want to have nominees or not.

What would be the advantages? What would be the disadvantages? My residency is in a non-collaborative country with Nevis and I think there is no public registry there, so I should be covered privacy-wise.

The business will likely won't have a bank account for a while and the nominees ask for a fee on all income which I'm not sure I am comfortable to pay.


Let me know your thoughts and what would be the reasons to prefer a set up with nominees over one without them.

 

[abdulkaddir]

Other then paying fees to nominees you can have many advantages for nominating the persons. I am not that good in using the legal terms but i can say that that will be beneficial for you in terms of the liability which you will face and also in the tax side you will be having advantage. You should consult some local level consultant who will guide you in much better manner.

 

[JohnLocke]

Most often nominees provide extra privacy and it's sometimes possible to convience the local tax office that the company is controlled by them and not you in tax matters.

 

[Spinat]

Most often nominees provide extra privacy and it's sometimes possible to convience the local tax office that the company is controlled by them and not you in tax matters.

agree, that's one thing nominees are for, I had no luck to use them for this purpose yet. Most often I use them for privacy.