Nominee service is a way to protect the identity and anonymity of the company owner. The primary function of nominee shareholder is to maintain the anonymity of the real owner by taking their place in all public records relating to the company and non-governmental organizations.
A nominee shareholder is appointed as a natural person or a body corporate created for the purpose of shielding the actual beneficial owners/investors of the company or sometimes to fulfill the requirements of the company to have a certain number of shareholders. Nominee shareholders are not the owner of the shares and are appointed by the actual shareholder to represent him on his behalf.
The appointed individual will provide his personal information to the authorities so that the true shareholder’s identity is protected and is not disclosed to the government and in the company’s documents. The rights and benefits of the true shareholder are also taken into consideration while appointing a nominee shareholder.
An agreement between the client and the nominee shareholder is made through a Declaration of Trust, by which the client retains control of the shares in their company. The DOT indicates that the shares are held in trust by the nominee shareholder for the benefit of the client and the client still has full ownership of his shares. The nominee shareholder would hold shares on trust in the form of a Declaration of Trust.
Upon taking on the duties of a nominee shareholder, we would hold client’s shares on trust in the form of a Nominee Shareholders Agreement or DOT and would ensure that his identity as a beneficial owner is only known to us and not put on public records.
If required, our nominee services include the monitoring and processing of entitlement for rights issues, bonus issues, and dividends for clients. We can also act on our client’s request to appoint a proxy for attending general meetings of the companies in which the shares are held, attending to restricted offers for sale to minority shareholders, and handling Mandatory General Offers on behalf of clients.
For this purpose, the parties need to provide identification documents to our experts, which include:
We provide services for the purpose of holding in trusts, assets, usually shares, stocks, and bonds as nominees and custodians. We assist in registering trusts for the shares in our client’s business in the name of our nominee shareholder so that the identity of the client is only known to us and is not visible as the owner of the shares in the public records. With our comprehensive service, the underlying beneficial owners/investors have the beneficial interest in the shares that is, they are entitled to all income and related capital gains.
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Chandrawat & Partners is a leading full service firm. We provide a wide range of high quality consulting services to domestic and international clients. With a strong network of professional advisors worldwide, we have a wealth of first hand experience and expertise in providing effective solutions to the complex issues.