Nominee directors for offshore company | Helpful Definitions

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Category: Offshore Dictionary

Nominee directors for offshore companies, UAE – definition

The nominee directors is the term referred to a person who is appointed by the company shareholder as the non-executive director of the company and who acts only on instructions of the company beneficial owner. Nominee directors services is the solution which is commonly used for international offshore companies and, in some circumstances, for onshore companies as well. The nominee director, once appointed, signs the declaration that he acts as nominee directors only and represents the interests of the beneficial shareholders. Typically the nominee directors reside in the country being different from the country of the company's incorporation. As a rule, nominee directors provide general or special powers of attorney to the company's beneficial owner or its representative and do not influence the day-to-day business activities of the company and do not have the access to the company's bank accounts.

Nominee directors can be appointed in the UAE offshore companies, whereby such nomination, under consideration of some specifics of the UAE laws and regulations, shall be executed with due caution. This is due to the fact that there are no clear regulations in UAE on nominee directors for offshore companies in Dubai and other emirates of the UAE.

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