Keep Your Privacy With Nominees
A nominee director is appointed to the board of a Company to act on behalf of the person who appoints him. This will most likely be the beneficial owner of the Company.
He will do whatever has been agreed on in advance. He can sign agreements on behalf of the Company, sign VAT returns and be legally responsible for the affairs of the Company.
The nominee director will appear on the public record at Companies House, guaranteeing you complete confidentiality. As far as public records are concerned only the nominees name will appear.
Normally the nominee director will issue you with a power of attorney to run the Company day to day. This ensures that you are in complete control.
Is it Legal to Use Nominee Directors?
It’s a common practice to use nominee directors in the UK and it’s completely legal. The nominee director is legally responsible for the actions of the company.
A nominee director is useful in situations where the owners want to keep their involvement secret. That may be from business partners or spouses.
If you’ve had a previous insolvent business you might not want people to know about your new company.
If you’re facing a divorce it might be best if your spouse doesn’t know too much about your current business activities.
You still control everything…..
Even although your involvement is hidden you will still have complete control of the day to day business of your company.
As well as having a power of attorney, allowing you to operate the company, you can have a signed, undated letter of resignation. That lets you terminate the arrangement whenever it suits you.
The nominee can sign undated appointment notices too so that you can appoint further directors whenever you want.
You might also want to use a nominee shareholder so that the true ownership of the Company does not have to be disclosed. This is a common practice too and completely legal in the UK.
As part of our services we will appoint nominee directors when we buy your existing Company. The directors and the shareholders will change on the public record.
The new directors will assume full legal responsibility for your Company.
We can also provide different nominee directors and shareholders for your new Company. This can help in situations where you need to keep your involvement in the new company hidden from third parties.
Every situation is unique. We will discuss your specific situation with you and recommend the best course of action based on our years of experience dealing with these matters.
We will draft the nominee agreement and power of attorney and make sure that you are fully protected and in full control of your business.
If you'd like help with your restructuring and debt elimination strategy email: help@fortressrestructuring or contact us here
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Nominee Directors and Shareholders