The institution of appointed directors and shareholders has long existed and has been developed in many countries, including Great Britain, Ireland, Cyprus. It is not necessary for an appointed director or shareholder to have the same residence: for example, the director of a Panamanian company may be a citizen of the Republic of Cyprus. Generally speaking, Russian customers request the Nominee service so as not to put their names in touch with a foreign company. There are a number of reasons for this: a true shareholder is the true owner of a business. The nominated shareholder is the owner only on paper. He holds shares for the owner and does not have the right to make independent decisions about the activities of the company. In addition to those mentioned above, our office will also issue a letter of resignation in favor of the UBO, so that the appointed director can be replaced at any time. Additional documents are issued to ensure authority over the beneficial owner`s new business structure, a Nominee agreement is also provided to include the details of the agreement that relate to the appointed director and the UBO or beneficial owner of a business. General power. The power of attorney shall be issued by the designated director to a person designated by the beneficial owner or on behalf of the beneficial owner. In this document, the agent authorizes the lawyer to exercise the main powers of the management of the company, including the power to open, operate and close bank accounts, establish and close branches and representations, sign contracts, represent the company in court, etc. The Nominee Management Service is used to guarantee maximum confidentiality and confidentiality, since the name of the director appears in the company`s documents, in each business contract and finally in the commercial register of the jurisdiction.
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