NOMINEE SERVICES
British Limited can be managed through Nominee Directors and Nominee Shareholders. According to British law you may "appoint/instruct" Nominee Directors (it would correspond to "trustees") and "appoint/instruct" Nominee Shareholders (would correspond to "fiduciary shareholders").
Nominee Director
The Limited can be administered by a nominee director, a trustee director. This fulfils all the administrative obligations of the company, making sure that the real beneficiary is free from all the bureaucratic tasks and from showing his name in the public registers. The nominee director signs the company's acts, but has no executive power, so it cannot take any initiative except behind precise provisions of the actual beneficiary.
The nominee director may move and perform only the tasks for which it is authorized in the so-called "Declaration of Trust": A legal document declaring the establishment of a trust between the nominee and the beneficiary. In the unlikely event that the nominee director acted on his own accord, he could incur very serious administrative, civil and penal penalties.
Nominee Shareholder
The Limited may have as shareholder a nominee shareholder, who can be a person or a company, and this also has purely administrative functions and privacy assurance, appearing in public registers. The nominee shareholder through a "Declaration of Trust " declares to manage and own the shares on behalf and name of the real beneficiary, so the nominee shareholder is not the owner of the company, but the one (person and/or company) appearing in the public registers.
The real beneficiary (last beneficiary) will have the attorney to conduct activities on behalf of the company and to sign each document as if it were the director or the shareholder. The name of the real beneficiary will appear only in our internal nominee contract and in the bank's proceedings, which shall be provided with a copy, thus guaranteeing total privacy.
Anglo-Saxon Trust
The Anglo-Saxon trust (literal translation "trust"; intending the entrust of movable/immovable property) is an institute of the Anglo-Saxon juridical system: the Common Law. It has existed for more than five hundred years and serves to regulate a multiplicity of legal relationships of a patrimonial nature (isolation and protection of assets, controlled asset management).
The subjects of the trust or, more correctly, the "legal positions", are generally three:
Settlor or Grantor;
Trustee (Administrator/Manager);
Beneficiary (Last Beneficiary).
The Settlor, or Grantor, is the one who promotes/establishes the trust. The Trustee is the Administrator/Manager. The Settlor intests the company or the assets to the Administrator (Trustee), who has the power-duty to manage them according to the rules written in the "Declaration of Trust", fixed by the Settlor. All in favor of a third figure, the Last Beneficiary. Possible position is that of the Guardian (Protector). "Positions " and "subjects" may not coincide. The same subject can assume more than one legal position (for example, in the "self-declared trust", in which a subject is at the same time Settlor and Trustee), as well as more subjects can have the same position (trusts with a plurality of Settlors, Administrators, etc.).
Why have one or more Nominees?
By using a Nominee Director and/or a Nominee Shareholder ("Director and Shareholders in Charge/Appointed/Fiduciary") you can:
Have total privacy and avoid making your name visible as an administrator or shareholder of a company. In place of your name will be visible the name of the nominee;
Prevent competition from knowing what you are doing with a new company;
Protect minors and those with disabilities;
Prevent the publication of your name and address, to protect yourself from aggression or retaliation by criminals (seizures, threats, etc..);
Protect goods in the event of divorce, or possible future creditors.
Need of Nominee Directors and/or Shareholders
As a non-resident in Great Britain or Ireland it will be rather difficult to persuade any British or Irish banking institution to accept its request for opening a current account, since the banks of these countries have strict guidelines on who can access to banking services, who can have a corporate bank account and under what conditions. Unlike other Countries the bank is not only interested in deposits or proposing investments, but above all to invest on you and your business! In the UK, as in Ireland, if you produce well the bank will be happy to provide you with credit lines, regardless of your rating in your home Country. Generally a British company with even a non-UK shareholder would receive immediate rejection from British banking institutes due to the high risk of customer reliability (the same is not true in this case for the Ireland, where preliminary audits of our company and our "Introduction" are essential, as a guarantee for the bank itself).
Therefore, although there are no legal restrictions on the opening of bank accounts to companies with directors or shareholders not resident on British territory, financial institutions normally prefer not to risk, precisely because of the unreliability of certain European and non European countries, unless there are already relations with Anglo-Saxon banks that have a history of the applicant's financial conduct.
To solve this problem and legitimize the requests of non-residents it will be necessary to have a nominee (directors and shareholders), in order to obtain the guarantee of the opening of a bank account and all the many advantages and the resulting privacy.
The Nominee services are not only for protecting privacy, but as a guarantee to the bank for your reliability and good name.
Our company will take care, through qualified professionals and organizations *, to verify that the beneficiaries' documentation and the application forms are congruous with the laws in force and the internal policies of the banking institute that you want to work with and that will actually allow you to get the account you need (state laws and internal banking policies are very dynamic areas).
Who can have access to the bank account: the Last Beneficiary
The Nominee Director and/or the Nominee Shareholder will not have access to the bank account, while the beneficiary (you) is the only one to have access and can do any transaction on the bank account or to access the credit lines. The nominee may not even check the account balance without the beneficiary's authorisation. This will be clearly expressed also in the request form of the bank account.
Once you have your British rating you will open many doors for credit lines, financing, advantageous insurance, etc.
* Legal Notice:
The Wellings & Williams International-Legal and Business Affairs, L.L.C. makes use of professionals enrolled in registers, orders and organizations with all the necessary authorizations to carry out the mandates of the customers in financial institutions, Banks and government agencies in the United Kingdom, the Republic of Ireland, the United States of America and the jurisdictions where it operates. The Wellings & Williams International-Legal and Business Affairs, L.L.C. also serves organizations and companies registered with HM Revenue & Customs, the Irish Tax & Customs, the Internal Revenue Service (IRS) of the USA and the agencies of other jurisdictions to carry out all the appropriate audits of customers in accordance with the anti-money laundering laws (MLR).