A nominee director for offshores or IBCs (International Business Company) registered in Seychelles is a trusted appointee who is in charge of managing the business on behalf of the owner, for private reasons. This kind of service is available on request and if you are interested in opening an offshore in Seychelles, you can address to our specialists in company formation in Seychelles.
Why is it suggested to appoint a nominee director in Seychelles?
Just like the nominee shareholders in Seychelles, the nominee directors are a good and recommended suggestion for company owners who want to protect their identities on the business market in the country. A nominee manager is in charge of varied responsibilities in companies registered in Seychelles without having to implicate or expose the owner.
In other words, the offshore company in Seychelles can activate in complete confidentiality regarding the owners by appointing a nominee director. This is a well-known method used by companies in Seychelles and can be requested at any time, our company incorporation specialists in Seychelles being ready to offer additional information in this matter. Also, we remind that the company registration in Seychelles is an easy process which can be concluded by our consultants.
The advantage of appointing a nominee director does not limit only to the fact that the owner of the company will be able to maintain his or her identity protected; investors must know that this option can also lead to various tax advantages. For example, the owner of the company can act as the company’s director, but this can lead to tax consequences in the country in which he or she is a resident.
The services provided by a nominee director in Seychelles can have positive effects with regards to the privacy of the company’s owners in matters related to personal taxation, this being an important advantage. It must be noted that the person or company that will act as a nominee director has to be paid for these services by the company’s owners and the fees will vary based on the types of responsibilities that the owner of the company will want the nominee director to have.
How can a businessman appoint a nominee director in Seychelles?
By appointing a nominee director, the owner of the Seychelles IBC will be able to maintain his or her privacy in the relation with the local authorities. However, it must be noted that even in the case in which the owner of the company will prefer appointing a nominee director, the company’s founder will retain the right of having full control over the company.
In order to appoint a nominee director, the owner of the company has to sign a power of attorney, a document which is generally used for granting a person the right to act on behalf of another person for specific purposes, which are prescribed in the said document.
In order to sign this document, the passport copy of the appointed director is necessary, as well a the proof of his or her residential address. In the case in which the nominee director is represented by a corporate entity, the company’s founding documents have to be presented.
The power of attorney can be signed for providing the right of full legal representation to a designated person, in which case, one must sign the general power of attorney, or for granting specific rights within the Seychelles IBC. In the latter case, the investor should opt for a limited power of attorney.
The power of attorney can grant a nominee director appointed for a Seychelles IBC full management rights, following the responsibilities established for this function under the company’s articles of association and as per the commercial legislation applicable in this country.
The nominee director can act as the entity in charge to represent the IBC in relation with the local authorities and sign specific company documents. The powers the nominee director can have will depend based on the wishes of the company’s owners.
More information on the stipulations that can be included in the power of attorney can be presented by our team of specialists in company formation in Seychelles. It must be noted that the responsibilities that a nominee director can have in a Seychelles IBC will be available for a period of one since the power of attorney was signed.
The responsibilities of a nominee director in Seychelles
There are wide-ranging managerial roles a nominee director can take care of, as agreed with the owner of the company in Seychelles. In accordance with the necessities of the company, and the situation of the client, the nominee manager will act in complete privacy, taking care of the daily activities of the business.
There are also cases where the owner of the IBC in Seychelles is also the director who takes care of the business without having to be relocated to Seychelles. Please keep in mind that the director’s residence status, whether a nominee or the owner itself will weigh much in tax matters, if any.
A very basic function of the nominee director in Seychelles is to act as a representative of the company on paper, the owner of the company being the person who is in charge with the daily activities of his or her business. This means that the nominee director will not participate in the company’s operations and management tasks and will have a formal function within the company.
However, the nominee director can also act as the person who prepares the company’s invoices, sign various types of contracts and other types of documents, and this will vary based on the wishes of the beneficial owner. Thus, the responsibilities the nominee director can have are not limited to a single function.
What are the main reasons for opening a Seychelles offshore company?
Seychelles is currently seen as one of the main destinations for starting an offshore business. The jurisdiction provides numerous tax exemptions, as stipulated by the Business Tax (Amendment) Act 2018. A company registered as a Seychelles IBC will benefit from a full tax exemption on its income or its profits as long as its assessable income does not derive from Seychelles, this being one of the advantage. Besides this, we mention the following aspects regarding the country’s economy:
- • the GDP per capita was of $15,889 at the level of 2018;
- • the country’s GDP growth was of 3.8% (measured between the 3rd quarter of 2018 to the 3rd quarter of 2019);
- • the level of foreign direct investments was of $158.5 million in 2018, as presented by the Seychelles Investment Board;
- • the level of exports was of $254 million in 2019, while the imports stood at $1,133 million;
- • the cost of company formation in Seychelles for a IBC is of $100 (the incorporation fee).
A company in Seychelles can activate with both nominee shareholder and director for confidentiality reasons, under a default arrangement. If you have decided to register a company in Seychelles, our advisors can help you with document preparation among other aspects. For more information about how to appoint the nominee director for your offshore in Seychelles, please feel free to contact our team of agents in company incorporation in Seychelles.
You can call our specialists in Seychelles offshore incorporation if you want to know more on the regulations applied to nominee directors. Our team can advise on other matters of importance, such as the provisions that must be included in the incorporation papers of the company.
You can also rely on us if you will need to obtain business permits and licenses, a mandatory procedure for certain business activities and types of companies.
If you want to set up a Seychelles IBC business, a very popular way to open a company here, you will need only 1 director and 1 shareholder. The director of the company can also be a corporate entity.
Please mind that there aren’t any requirements to appoint a director who is a local resident, nor do no you need to appoint a company secretary (local or a non-resident).