- 1. Why Would I Need a Nominee Service...
Forming a company has a number of business advantages. However if you form a company in the usual way you may be faced with a dilemma; when you become a shareholder or director your names, addresses, occupation and date of appointment appears on the Company House Register.
This is fine for many people, but there are perfectly legitimate reasons for not wanting your details to become cheaply available to commercial rivals, direct marketing houses or credit search agencies.
For example you may wish to set up a company before you start trading without alerting other companies in the sector, or your employers.
Our nominee services offer carefully structured arrangements that keep your personal information off the public record while ensuring full legality.
This service includes providing a Nominee Director, Nominee Shareholders, Company Secretary and a registered office address.
- 2. How does It Works...
Every company needs at least one director. The directors' names and addresses must be placed on the public record. A nominee director serves as a proxy for the owner of the company, acting on their behalf.
A separate document is then provided granting Power of Attorney to the beneficiaries.
The way in which a nominee arrangement works is simple…
Firstly you appoint one of our nominees to serve as a director or shareholder in your place.
After that we set up the company.
Then our nominee grants you "Power of Attorney".
Finally you run your business.
- 3. What Services do you offer...
The nominee director can be used to control the company. As the nominee is in effect an employee of yours they will follow your directions for how the company is run.
A nominee shareholding works on the equitable trust principle. Effectively you will be both the settler and the beneficiary and so effectively control the shareholding and be entitled to the benefits from the shareholding.
We will be the trustee, who while legally owning the shares (and so appearing on the registers, rather than you) will be legally obliged to act in your interests and under your instructions – acting as your proxy. In this way you can get the benefits of owning the shares without the legal obligations of public registration. A contract will confirm that the shares are held in trust on behalf of you, the Beneficiaries.
A company secretary is no longer a legal requirement but can be supplied as a nominee should your company require this service.
All UK companies are required to have a UK based registered office address.
Our registered office service allows official mail to be handled and forwarded to you within the annual fee.
The registered office address can either be a London or Suffolk address.
Mailing (Trading) Address
Our mailing (trading) address service allows you to use our Suffolk address as you trading address. The address can be used for all your business mail and deliveries.
Telephone Answering Service
Your telephone calls will be answered in your company name, 6 days a week by a human being in our office. The telephone operator will follow your instructions on how to handle your calls from simply taking a message to product or sales support.
A unique UK telephone number will be given to you to use on your stationary, website and marketing material.
Our Virtual PA service gives you a pay as you go personal assistant who will carry out your instructions from booking a taxi to complex document translations.
Your ask the question and your PA will find the answer.
Company Formation (UK)
Included in our nominee services we will register your UK company and no extra charge. The company be registered in your chosen name (subject to availability) and will follow your share structure requirements.
All formations are carried out online and take 3 hours to register.
Company Formation (Offshore)
We are able to incorporate companies in any of the worldwide offshore jurisdictions all offering a variety of different advantages.
Please call to speak with one of our offshore team to discuss your individual requirements.
Bank Account Introduction Service
Our bank account introductory service allows you to set up your company and we will guide you through how to set up your UK or offshore bank account.
- 4. What you need to supply...
If we are acting as either nominee director and / or shareholder, we will need the following in order to comply with money laundering regulations:
- Names and addresses of the owners and all beneficiaries of the company together with proof of identity
- Your full contact information (telephone, fax and/or email)
- An annual fee
- The nature of the business
Your undertaking to keep us informed of any changes
- 5. The Small Print
You really need to read this first. Because nominee services can be abused we need to make certain things clear first:
Confidentiality - As the Principal we will respect the confidentiality of the Company and its beneficiaries. However we reserve the right to co-operate with the UK authorities when they are authorised to make these enquiries.
Correspondence - Usually we will send documents via Royal Mail. For an extra charge we can send the documents through express or courier services. If you want us to handle trade correspondence for you, this can be done through our virtual office service.
Responsibilities - As the Principal we will countersign any approved documents under the Beneficiaries' (your) instructions but we will not and can not become involved in the affairs of the Company or take responsibility for contracts or any trade matters.
Withholding Signatures - We retain the right to refuse to sign documents that, in our opinion, may be misleading or unlawful and we are legally obliged to report evidence that may point to unlawful activity by the Company.
Multiple Beneficiaries - A Nominee can only represent a single Beneficiary. When a company has multiple Beneficiaries that require Nominees; each Beneficiary will require a separate Nominee to represent them. Separate contracts will be provided.
Contact Information - As the Principal we rely on you, the Beneficiary, to provide correct and up to date information including personal details, business developments and accounts. If mail or other correspondence is returned undelivered we reserve the right to resign any nominee positions.
Annual Returns - Although our Company Secretary Service covers the filing of the Annual Returns, this will need to be completed by the beneficial owner before signing and before the due date.
Renewal - Each year we will issue a renewal invoice several weeks before the renewal date. If we do not received payment we are afraid that we will have to resign all Principal positions and the service will cease.
Changes and new appointments - You are free to appoint further officers or shareholders but you will need to notify us immediately. An appointment without due notification will be treated as a breach of contract and we will be obliged to resign.