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NOMINEE COMPANIES
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The nominee Company (NC) is a body corporate
created not for some independent commercial activities, but
rather for a "brass plate" representation of the beneficiary.
There are two most popular practical usages for a nominee
Company:
1. Agent
The NC is incorporated in the high-tax ("onshore")
jurisdiction where the actual commercial operations of beneficiaries
take place.
As opposed to another element of the scheme - an offshore
company, this one is called as well an "onshore company".
The NC ("Agent") enters into a contract with the
offshore company ("Principal") to represent its
interests in the onshore jurisdiction. So, the Agent acts
onshore on behalf of the Principal, providing all business
on behalf of the latter, especially trading with some other,
"real" onshore company of the Beneficiary. Except
for the trading the NC may hold or purchase some securities,
real estate, land, etc, providing low profile if necessary.
The Agent's taxation base consists of its commission, and
the "real" company doesn't have any invoices, etc.
issued by the aforesaid offshore company. Needless to say,
the NC, in turn, is managed and owned by Nominees.
We've described you just a sketch, which requires further
elaborated design provided by local tax advisers to use a
NC lawfully and successfully.
United
Kingdom Private Limited Companies are often used as Agent
NCs.
2. Top management/administration body
The NC is an effective offshore tool to keep both confidentiality
in and control over international business or asset protection
structures. Just some vivid examples: a NC representing the
Foundation Council or
the Protector in a Panamanian Private Foundation, NC acting
as the Protector in a Nevis International
Trust. We may advise on the peculiar choice of a jurisdiction
and/or specific type of company to create a NC for such application.
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