What is the Role of Nominee Directors in BVI

 Role of Nominee Directors in BVI

The business-friendly environment in the British Virgin Islands encourages entrepreneurs to set up their businesses here. To simplify the workings of the business, a nominee director can be appointed who plays a key role in the creation of a successful business venture.

Let’s know more about the Nominee Director in BVI company and his importance in the business.

What is a Nominee Director?

A nominee director is an individual who is appointed when the founders cannot handle the day-to-day operations of the business. They have the freedom to act on the founders' behalf.

They play a crucial role in the decision-making process of the business. Although they hold the legal title of director, they do not have the same level of involvement or decision-making power as other directors. 

What Role Does the Nominee Director Play?

They act as the face of the company representing the interests and acting as the signing authority . They ensure that all the board’s decisions are properly implemented and all compliance requirements are being fulfilled. They also provide privacy to the original owners by being the face of the company. 

How Will You Benefit From Appointing a Nominee Director?

Privacy and security are key benefits of BVI offshore company formation. A nominee director ensures privacy by shielding the identity of the owner in legal and financial matters and also helps in the operations of the company without any direct involvement. 

How to Avail BVI Nominee Director Services

The procedure to appoint a nominee director is given below:

  1. Identify a Consultancy

You can seek the assistance of business setup consultants, such as Business Setup Worldwide, who will help you appoint nominee directors.

  1. Explain Your Requirements

Clearly communicating your requirements will help in better understanding of the kind of nominee director services you require. 

  1. Documentation

To appoint a nominee director, ensure valid ID verification for all directors and provide a solid business plan alongside your company incorporation certificate.

  1. Create the Agreements

An agreement must be drafted that clearly establishes the roles, responsibilities and duties of the nominee director. It must be backed by a power of attorney which will provide credibility to the agreement.

  1. Appoint the Nominee Director

Once all the documents are validated, the nominee director can take charge of you r business in BVI.

A nominee director is appointed to represent the interests of an individual or an entity. However, it must be kept in mind that they have the same responsibilities as any other director in financial and legal matters. 

Nominee director services offer a plethora of advantages for those seeking to invest in British Virgin Islands. Such services are not mandatory for an offshore company in BVI, appointing one will help simplify your tasks. 

To know more about BVI nominee director services and to explore other jurisdictions similar to BVI, contact our consultants today. We’d be happy to assist.

FAQs

Is it mandatory to have a nominee director for your business?

No, in BVI appointing a nominee director is not mandatory

How will the nominee director be able to control the company?

Through the power of attorney, they will be able to handle the company.

Should a power of attorney be obtained while drafting the agreement?

Yes, a Power of Attorney (POA) must be obtained.

Get your company incorporated in popular business locations @ best prices*

Seychelles Price BVI Price IFZA Price SRTIP Price

*Prices valid till