The crucial difference between one man companies and corporations is the relationship between the company and the people operating it. Personal companies and sole traders are personally responsible and thus liable for the operational acts. Corporations though, separate the legal person from their owner(s). As such, the choice to incorporate is a matter of risk management.
Strictly speaking, a nominee is an individual or legal person that acts on behalf of a corporate beneficiary. This third party enters into an often private civil agreement with a legal person. The legal person is managed and controlled by the ultimate beneficial owner. Nominees are often used to strengthen the local position of the company. For Belize offshore companies and International Business Corporations, nominees are a crucial step to enhance and stabilize local presence and substance. However, the appointment of a local director or shareholder may not be sufficient to comply with international regulations. More local nominee services, or other substance may be required.
The separate corporate personality isolates directors and shareholders from the company. Although nominee services are covered by strict limitations and contractual agreements, a nominees have duties that safeguard the stability of the company. As such, nominee services are not without risk because liabilities may occur. Creditors of the company may request the court to pierce the corporate veil and impose liability on directors, shareholders and beneficiaries of the company. Wrongdoing by a director, shareholder or beneficiary is seen as a wrong against the company. Therefore, the proper plaintiff to initiate legal proceedings is the company and not civil parties or external creditors. Just as veil piercing, the proper plaintiff must also be established by the court. Shareholders or a liquidator can initiate a derivative claim against a director for wrongdoing. Consequently, the positions of the beneficial owner and the company are not only protected by the civil agreement that arranges the nominee services, but also by law.
Beneficiaries, directors and shareholders of Belize offshore companies and International Business Corporations have several duties to promote the success of the company. These obligations include the duty to act in good faith, for the benefit of the members as a whole, and to consider the interest of creditors.
Nominee services are commonly used to appoint directors and shareholders. These can be visible in the public corporate registry and thus strengthen the anonymity of the beneficial owner. Lately, several jurisdictions started registers to designate beneficial owners as well. These private registers are in particular invoked to identify illicit actors and criminal networks. Information of beneficiaries of Belize offshore companies and International Business Corporations may be recorded in a closed, shielded and private register of beneficial owners. Information is not available to the general public and foreign authorities must have a valid reason to request information or apply for Mutual Legal Assistance.
Belize Offshore Company Nominee Services
As the introduction above revealed, nominee services can complete the standing and legitimacy of a Belize offshore company or International Business Corporation. The nominee services we provide are not limited to the standard nominee director or nominee shareholder. Our objective is to help you build, maintain and grown an international, often virtual, company. As such, we provide you with local administrative and marketing services as well. These additional services help you to comply with several international rules and regulation, while still availing the best interest of the company and its commercial objectives.
Do you wish to strengthen the local substance and presence of your Belize offshore company or International Business Company? Do you want to focus on building a stable and profitable international organization? Would you like to avoid being scrutinized by authorities while you did not do anything wrong? Or do you wish to establish a new company in Belize with maximum protection and international allure? Then, please complete the contact form below. We will get back with you shortly.