A nominee director is a person who is appointed by the company to serve passively in the company. The term ‘Nominee’ is used to indicate that the director role is strictly a non-executive role in companies.
A nominee director is a person appointed by business owner to act on their behalf. Nominee director is responsible for maintaining a company’s legal responsibilities. However, they may hand over powers of attorney to other directors in the firm. Nominee director is an officially registered company director acting on behalf of the actual director. The nominee is appointed by virtue of a Power of Attorney (POA) that is issued by the beneficial director, also known as the donor.
Upon the proper execution of the POA, the nominee director may open bank accounts and sign documents or contracts on behalf of the donor. The terms stated in the POA will determine the extent of power of the nominee, which will be issued on an annual basis so that the power to act is renewed yearly.
The term “nominee” is used to indicate that the director role is strictly a non-executive role in companies. The nominee director role is to satisfy the company law requirement of having at least one director in the company. The nominee director is not involved in managing the company directly and will only act on the explicit instructions of the company.
Benefits of appointing nominee director
The benefits of appointing a nominee director through us are listed below:
Our nominee director services help clients to fulfil the requirement for a resident or local director. In many jurisdictions around the world, there is a requirement for a resident director, which is fulfilled through our services.
We provide nominee director services to individuals and companies, ensuring a high level of integrity and confidentiality. The name of the nominee director will appear in the public records at the companies registry as the director of the company.
Our team would assist our clients in maintaining confidentiality by signing a Power of Attorney, under which the real owner’s name would not appear in public records but the real owner would make all real decisions.
While serving as a nominee director, our professionals assist businesses in maintaining their good standing and ensuring regulatory compliance. We designate experts and uphold the stringent privacy regulations.
Our nominee directors act as per client instructions and in accordance with the terms of the agreement established between the nominee director and the client.
Our nominee director services include:
To know about directors duties in Hong Kong, please feel free to download our booklet.
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