Hong Kong Nominee Services
22 September, 2016
The most common reason, why Hong Kong limited companies are considering appointing nominee shareholders and directors is, that all information of such companies are made public and entities want to protect the identity of the actual directors and shareholders of the companies.
There are several professional service providers in Hong Kong, however selecting the right provider is a difficult task. A nominee contract should be entered into in order to protect the ultimate beneficiarys right to company assets and distribution of income. Such contract may contain the following:
- The nominee is not liable for business activities of the company
- The nominee is not allowed to sign any contracts
- The beneficial owner can dismiss the nominee anytime
Every Hong Kong company is required to have at least one individual director. By appointing a nominee director the enterprise will ensure that the personal information (e.g. name, address, passport number, etc.) will be kept hidden and that it cannot be searched by public.
Appointing a nominee shareholder and a nominee director usually go hand in hand. It is recommended to make a Declaration of Trust to protect the actual shareholders rights.
Company bank account
When opening a corporate bank account, every bank will request the name of the ultimate beneficial owners. Furthermore, the beneficial owner(s), nominee director(s) and shareholder(s) must attend the introductory meeting with the bank.
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