October 17, 2016 - Using Nominee Service for Offshore Companies in Belize

There are numerous benefits for establishing an offshore company in Belize:

  • An offshore company in Belize is exempt from all taxes
  • Only one shareholder and one director or required for Belize international business companies, and both can be held by the same person
  • The beneficial owner's information and that of shareholders will not be disclosed to the public
  • Only the shareholder has access to the shares register
  • Both registered and bearer shares are permitted
  • Neither directors of shareholders of Belize international business companies are required to hold meetings
  • Belize offshore companies can open bank accounts and do business with banks of any nationality (see below)
  • Belize international business companies can be incorporated in any language
  • No information can be disclosed to any foreign government

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Our Belize law firm has received a number of questions recently about the nominee process, in particular.  So without further adieu:

Using Nominee Service to Protect Your Privacy

Many corporate leaders do not want to be publicly identified with an offshore company.  Nominee service provides an extra level of privacy to those involved in the company.

Functions of Nominee Director

A nominee director is a director whose function is passive in nature. The director receives a fee for lending his or her name to the organization. However the beneficial owner remains in control.

In most cases the nominee provides the beneficial owner with a general power of attorney empowering the latter to run the business, manage the company’s activities and open and operate the company’s bank accounts.

Under special arrangements the nominee may be involved in signing (contracts, loans, company accounts, annual returns etc.) for the company and holding the signature authority for its corporate bank accounts. At the same time he or she is not actually entitled to manage the company. The nominee director cannot and will not enter into any real business contract or financial or moral commitment. The beneficial owner is still fully responsible for running of the company.

Indemnity Agreement with Nominee Director

To ensure and guarantee safety of a nominee director the beneficial owner and a nominee director may wish to sign a director indemnity agreement or letter.

Nominee service is a perfectly legal device, which preserves the privacy of individuals who would rather not disclose their interest or association with a given corporate body.

The service is primarily designed to help people who keep companies fully compliant with the law to protect the identities of the persons actually controlling the company.

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If you have additional questions, our Belize lawyers can assist.

Belize offshore companies, international business companies, and limited liability companies are only a few of the investment tools you can explore in a confidential, tax-exempt atmosphere. To learn more, contact us today.

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