Why it is better to have a nominee director?

[blizz]

Can you tell me if it is better to have a nominee director or to use "darks" ?

I can read that from legal point of view it is better with a nominee director to sign for company matters!

 

[negon]

It totally depends on your situation and what you are willing to do. Many (and I mean really many) of this forum realized that it is way cheaper (long term) and easier to use darks. and the level of privacy increase dramatically.

However, if you plan to use a real bank for instant in Cyprus or anywhere else it won't work with darks. and you want to appoint a nominee director AND shareholder.

 

[blizz]

okay, darks ar best if I use EMI and nominee if I use real bank correct?

 

[belarus]

okay, darks ar best if I use EMI and nominee if I use real bank correct?

true! I love darks, can't live without them any longer so many new doors to open

 

[Internationaloff]

Nominee Shareholder and/or Director is for Privacy on corporate documents in jurisdictions with Public Registry.
If you need High level of privacy with the bank, you must use a Fiduciary Service or a new residency. Why?
Because if you use a Nominee Director the bank will know you as UBO, while if you use a Fiduciary Service the bank will know the Fiduciary as UBO.

Advantages of Nominee Director:
- cheaper than Fiduciary Service;
- Privacy on corporate documents in jurisdictions with Public Registry;
- Direct control (bank account);
- The Director does not intervene in the negotiation and signing of contracts on behalf of company .

Disadvantages of Nominee Director:
- The bank knows you as UBO;
- Automatic Exchange of Information.

Advantages of Fiduciary Service:
- Privacy on corporate documents in jurisdictions with Public Registry ;
- The bank don't know you as UBO;
- The Fiduciary intervenes in the negotiation and signing of contracts on behalf of company;
- NO Automatic Exchange of Information.

Disadvantages of Fiduciary Service:
- More expensive than Nominee Director;
- No Direct control (bank account).

 

[blizz]

true! I love darks, can't live without them any longer so many new doors to open

Yes thank you.. I have sent e-mail to @auric company and got details today!

@Internationaloff thank you very much, all of it will not protect my privacy like the darks do!

 

[Internationaloff]

Yes thank you.. I have sent e-mail to @auric company and got details today!

@Internationaloff thank you very much, all of it will not protect my privacy like the darks do!

Fiduciary Service with Real bank.

 

[blizz]

Thanks will not work me sorry but thanks for your answer

 

[haslan]

Can you tell me if it is better to have a nominee director or to use "darks" ?

I can read that from legal point of view it is better with a nominee director to sign for company matters!

If you don't need to get contracts or similar signed you don't need nominees use darks to protect your privacy!

 

[belarus]

If you don't need to get contracts or similar signed you don't need nominees use darks to protect your privacy!

True, nominees only required if you need to get documents signed by real person!

 

[Raymond]

But what if darks are detected, and lead to account freeze? Ain't your funds at risk here?

 

[Raymond]

@Internationaloff And no control of bank account also won't risk of our funds been misused or robbed of it?

 

[crownblown]

I would at any time prefer DARKS compared to Nominees. DARKS and one of costs nominees are ongoing costs. Darks you are limited to EMI providers Nominees to real banks which f**k you over at any chance and have very high fees!

 

[crownblown]

But what if darks are detected, and lead to account freeze? Ain't your funds at risk here?

What if the bank decide not to like your business and longer and ask you to provide lots and lots of documents in an endless chain of questions and requirements ???

 

[mnschwarz]

I would at any time prefer DARKS compared to Nominees. DARKS and one of costs nominees are ongoing costs. Darks you are limited to EMI providers Nominees to real banks which f**k you over at any chance and have very high fees!

Nominees however are legal whereas darks are not. Get caught out with darks and you may lose everything plus face fraud charges.

 

[Raymond]

But with Fiduciary Service, can't they open account under their name as UBO, but let me operate it, we can use VPN to do that, or is there something I am missing? The risk with fiduciary service is that what if they rob me of my money, you never know so it's best to control your own bank act.

 

[mnschwarz]

But with Fiduciary Service, can't they open account under their name as UBO, but let me operate it, we can use VPN to do that, or is there something I am missing? The risk with fiduciary service is that what if they rob me of my money, you never know so it's best to control your own bank act.

You're talking about nominee bank signatories. They're similar but just for the bank account (often used along side corporate nominees though). Yes this is one way to avoid being reporting as UBO under the AEOI. And yes the risks are that they are the controlling party of the bank account. You rely on your management/nominee agreement as proof of ownership and hopefully find a reputable & trustworthy company to handle this for you. You also pay fees for them to make each of the bank transactions you require.

 

[Raymond]

The offshore setup agent does provide signatory services? It is easy to find reputed offshore formation agents but not able to find trustworthy signatory service providers.