Nominee Director / Shareholder

What is a nominee service?

There is a legal requirement for all Georgian legal entities to disclose the details of their company’s directors and shareholders. This information is kept on public record by The Ministry of Justice and is available to anyone who wants it. Understandably, many business directors and shareholders value their privacy and prefer not to disclose their identities on the public record.

Nominee services allow your business to appoint official positions such as the director and shareholder to a third party, who is then listed on the public register on your behalf. Nominee services allow our clients to remain anonymous. As part of our nominee services, we can also act as a nominee to assist our clients with opening bank accounts. This can be beneficial where companies have directors in overseas locations. At Premium Law Georgia llc. we understand the importance of our client’s confidentiality, we are also committed to carrying out detailed Know Your Customer (KYC) checks to ensure your company’s senior decision makers are compliant.

Details of nominee services:

• Our clients will be the beneficial business owners. This means you will retain the power to manage your business and the power of disposal. As nominees, we will not be able to participate in company business without written instructions from you (the beneficial owner) through general power of attorney.
• Nominee directors and nominee shareholders have no power over how your business functions and are mainly present for legal reasons to keep the company director and shareholders information anonymous.

How does it work?

Depending on your requirements of the nominee director, the scope of work will vary. Here are some examples of the type of responsibilities our nominee directors can undertake:

• Mail forwarding of Companies House and HM Revenue & Customs mail
• Signing of documents
• Power of Attorney
• Signing on VAT Forms
• Bank Account signatory

The scope of power of a nominee director

An agreement must be signed before the appointment of the nominee director which should outline every duty of the nominee director. We work closely with our clients to understand their circumstances, allowing us to draft clear agreements that meet their requirements. This means our clients have control over the degree to which their nominee director will be involved with their business’ activities. Our professional consultants can advise you on the best options available to you. A significant cause of concern for many people is whether the nominee director can access the company’s bank account. The company bank account is only accessible by those whose names are authorised by the bank.

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