WHO IS A NOMINEE DIRECTOR?

A nominee director is someone who in fact is renting his or her name to you. In other words, the name of this person is used and not yours for the incorporation documents. They are also taking the positions on paper of the company directors. The term of straw man or front man has been used to describe someone who is acting as the nominee. Legally, according to the incorporation documents, the nominee is responsible for the company or entity. In addition, if it is the case of a nominee that is also listed as the shareholders, then they in effect also have the related ownership responsibilities as well.

Each company formed in Gibraltar must have a minimum of one director, and a company secretary. Coddan can offer you our professional nominee directors and company secretaries so that you can keep your anonymity and not have to disclose who operates your company and your personal address. Our nominee director service is used to ensure the highest degree of privacy and confidentiality.

How it works: The nominee Director will issue and sign a General Power of Attorney document, which gives you full power to manage your company. The nominee Director will give you his signed and undated letter of resignation document, which gives you the peace of mind that he can't act against you. We specifically will not provide this service to corporations with a payroll or who may have excise tax obligations. Upon provision of a nominee director, we would require you, as beneficial owner(s) of the company, to sign a Letter of Indemnity indemnifying our director against all liabilities incurred by him by virtue of being so registered.

This General Power of Attorney gives the Attorney authority to take decisions and actions on behalf of the company. This include buying or selling property or shares, signing cheques etc. This General Power of Attorney allows the Attorney to open, operate and close any bank or building society account in the company's name, and a Power of Attorney that allows the Attorney to sign cheques on behalf of the company.

Coddan can provide a nominee company director service for your Gibraltar Company. Our annual fee includes the cost of preparation of the company’s Annual Report. Our one off fee is all-inclusive for the 12-month period with no hidden charges.

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