For Whom Wealth Matters
September 30, 2014 Leave a comment
Do read the book to understand how to let money expand the possibilities in your life rather than merely hoarding it.
Money making is fun.But its pretty sad, if money is all you have in life.
Money is meant to help you be the best you can be, to help you do all you want in life, so slaving for it and making work your whole life, is to snuff out your own potential.
September 28, 2014 Leave a comment
A nominee shareholder is a person or entity listed as the holder of the securities or shares of an offshore corporation rather than its actual owner, which allows them to remain anonymous.
Traditionally, the way to maintain the privacy of investors and business owners has been the use of bearer shares. However, these titles are losing popularity due to restrictions imposed by measures against money laundering. But the offshore industry soon devised an alternative and introduced the figure of the so-called nominee shareholder or trustee. This can be a natural person or another offshore company that is exclusively incorporated to be used for this purpose and is usually provided by the registered agent or the formation agency ie a corporate trustee.
The data contained in the incorporation documents of the company, which are either filed with the registrar of companies or deposited privately at the registered office, depending on the legal requirements of the jurisdiction where the company is incorporated, refer only to the nominee shareholder.
So how are the rights of the real owner guaranteed? Because the nominee shareholder is included in all the documents of the company, it is necessary to take additional steps to ensure the rights of the real or beneficial owner. This can easily be solved by means of a document called declaration of trust. It is a private contract in which the nominee shareholder recognizes holding in their custody the company´s securities, although they actually belong to their client. Read more of this post
September 28, 2014 Leave a comment
A nominee director is a third party that is officially registered as the administrator of an offshore corporation instead of its real beneficial owner or manager, who may then remain anonymous.
The nominee director is normally provided by the agency responsible for the formation of the company, or by the registered agent. It can be either an individual or legal person, i.e. another company specifically incorporated for this role. It is common to use the nominee director in conjunction with a nominee shareholder, since this way the client does not appear either as owner or as manager of the company.
Because the main purpose of the nominee director is to protect the client’s privacy, their function in most cases is merely formal. That is, they appear to be in charge on the documents of the company, but they do not perform any executive function and are merely required to sign certain documents, including the minutes of the annual meeting of the board of directors or some extraordinary resolutions taken at the request of the client. All the operating functions are usually performed by the real owner, to whom the nominee director has given a general power of attorney before a notary, entitling them to perform the daily activities of the company. This includes opening and managing bank accounts, signing contracts, etc… Because of their lack of executive power, these nominee directors are popularly known as straw men. Read more of this post
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