Nominee directors and owners are applied if the actual owners and directors of the venture do not wish to be recorded in the company's deeds of foundation.In this case, one or several persons (natural persons or companies) agree, against remuneration, to be entered in the documents in the above capacity. If the actual owner so requires, the nominee directors are involved not only in the establishment of the company, but also in the signing of the company’s contracts and in arrangements regarding the amounts received on the company's bank account, etc. throughout the company’s existence.In applying nominee directors, it is common practice that the nominee directors are merely entered in the company documents. In the same documents, the nominee directors grant a power of attorney to a third party in which they delegate all rights to that party (e.g. opening of bank accounts, signing of contracts, etc.). The third party so named can, of course, be the beneficiary himself.
If the beneficiaries do not wish to reveal their identity at all, the nominee directors will sign the contracts of the company, issue the invoices, initiate bank transfers, etc. They will, of course, effect each transaction against extra remuneration.