Located on the northeastern coast of Central America the country of Belize offers dazzling business opportunities in its region. Belize has a diverse geographical location and a vast land area which makes it a perfect destination for business investors. The business sector in Belize comprises of various industries like tourism, agriculture, manufacture, and the industrial sector. The import and export industry in Belize also contributes significantly to the country's economy and business industry. Cities like Dangriga, Belize City, Big Creek are the major exporters with the ports in these cities regularly handling the scheduled shipping from the USA and the United Kingdom.
The Businesses in Belize are not provided with the facility of the public record system. So, the nominee services are present in Belize that helps the businesses to keep their identity invisible on the company documents and with the Government record. Only the Registered Agent will know the relationship between the Nominee and the Beneficiary. The nominee director will basically provide businesses with a number of services and are expected to work in the best interest of the company to which they are appointed at heart and also owe the same duties to the company as all other directors.
How will Businesses get Benefited from Nominee Director
The foremost aim behind appointing a nominee director is to keep the privacy of the company and to prevent the general public from getting to know that there is a direct relationship between any offshore company and its beneficial owner. A nominee director or a nominee manager of any offshore company helps to avoid implications that the beneficial owner closely controls and operates the particular company. So, basically, a nominee director is employed to keep and secure the confidentiality of his client.
Any nominee director has the right to perform certain managerial functions, which otherwise needs to be performed by the owner or other related authority of the company. The work performed by a nominee director can vary and depends upon the tasks assigned to him by the owner of the company. Usually, a nominee director is assigned the daily management tasks of any company, as this service costs quite high for an offshore company, employing a nominee director for the job proves to be a good approach. Although, the overall involvement of any nominee director in the company’s management in nominal.
Few notable benefits that a company can get through nominee director are
- Preserving the identity from the company’s documents along with all the Government records.
- Assuring the confidentiality of personal information documents (Passport details, name, address, etc ) within the company’s domain and the Government.
- Complete control over the company’s affairs by transfer of power through the Power of Attorney(POA) and Declaration of Trust (DOT).
The transfer of power through the Power of Attorney(POA) basically makes an agreement between the owner of the company and the Nominee director. The agreement makes the Nominee director eligible to act and represent on the behalf of the company.
Commonly Offered Services and Documents Required
Appointing any nominee director provides the company with a sparse number of services. Along with nominee director, few more services can also be availed through a Nominee Shareholder. Both the nominee director and the nominee shareholder provides a different number of services.
When you appoint a Nominee for your company to hold shares on your behalf, your benefits are protected without making your personal details public. The Nominee Shareholder signs a “Declaration of Trust” which is a legal document and signifies that the company’s shares are held under a trust.
Services offered by a Nominee Director in Belize
- Nominee Director
- Power of Attorney (POA)
- Power of Attorney with certification by a Notary Public
Services offered by a Nominee Shareholder in Belize
- Nominee Shareholder
- Declaration of Trust (DOT)
- Declaration of Trust with certification by a Notary Public
When any company appoints any nominee director or nominee shareholder, they are giving that individual the role of a nonexecutive director of the firm in place of another person, investor or financial institution. Although the nominee director is not compelled to own any share of the company, however, if needed, the person will be able to gain complete ownership of the shares whenever required.
In order to appoint any nominee director or nominee shareholder, the company or firm needs to submit a few documents which will be required to register any individual as the nominee director of the company. The documents needed are
- Copy of passport of all director/shareholders
- Residential Addresses proof of all directors/shareholders
- Certificate of Incorporation (If the director/shareholder is in another corporation)
- Amount of share capital
- Percentage of shareholdings (Only for nominee shareholder)
Why Business Setup Worldwide?
Belize welcomes business investors across the world with open arms and tends to provide great services for aspiring businesses in the region. Business Setup Worldwide is a business consultancy company that looks to provide various business assistance to investors. We have a team of experts who are keen to help out people who aspire to set up business in the region. Feel free to contact us for any business-related query, we can help a lot.