Frequent Questions Archive

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What is a Power of Attorney?

A Power of Attorney (POA) is a legal agreement which empowers a person with the authority to pass on this authority to another person or persons and making him the Attorney in Fact. This POA can be general (unlimited) or it can be of a limited nature, that is, the authority can be in all matters appertaining to the company or it can be limited to a specific function. The POA can also be time specific, that is for a fixed period in time with an expiry date or it can be in perpetuity.

 

 

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What is the difference between a Registered Shareholder and a Nominee Shareholder?

A Registered Shareholder is where the beneficial (real) owner records his/her name on the Share Certificate and in the Register of Shares as the owner of the allotted shares.

A Nominee Shareholder is where the beneficial owner chooses not to have his/her name on the Share Certificate or in the Share Register. A Nominee becomes the third party for the real owner. The Nominee appears on the Certificate and in the Register. The Nominee signs a Declaration of Trust to the Beneficial Owner giving up any right to exercise any powers over the shares including voting rights or the rights to sell or transfer these shares.

A Nominee Shareholder is used where the Companys Registry may be open to public scrutiny or if the owner requires a greater sense of privacy.

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What is a Nominee?

A Nominee is a Third Party who is registered as a Director or a Shareholder of the company. A Nominee is intended simply to facilitate the Beneficial Owner in matters of privacy and is not intended to assist in the management of the company or sign documents and contracts on their behalf. There are exceptions where a Nominee may sign certain standard documents such as contracts, invoices etc, which will have to be approved first.

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What are Offshore Companies most commonly used for?

Offshore companies are most commonly used for offshore banking, to conduct international trade, investment activities by professionals and for asset protection. Offshore companies can be involved in buying and selling goods and services, hold bank accounts and operate businesses. Offshore companies are also commonly used for the ownership of real property and land; for ownership of intellectual property, licensing and franchising; personal service by individuals working overseas and offshore e-business. They are also tax efficient.

Call on +44 (0)208 421 7475 or email info@readymadecompaniesworldwide.com