Nominees in offshore banking?
 

hey guys, can anybody please explain me the advantages and disadvantages of having Nominees with your offshore banking?

what would you pick?

thanx!

yes.....

I disagree...

You mean nominee directors for an offshore company?

OK.. Simple version! :-)

This all depends on your personal circumstances .... but, there is no way "normally" any nominee director needs to either know of any bank accounts of a corp or even whether these exist and in what jurisdiction.

The only person that needs to have access to the bank is you.

But... this is complicated if you are not really offshore and depends on.. a shitload of factors.

If you are "offshore" - by that I mean you are not living in your "home country" - this can be almost any other country or an actual offshore jurisdiction, - then ya got little problems!

I have directors in each of my offshore companies
I can explain you on ICQ why

Yes go for nominees as company directors...chose them possibly 70+ years old and get a power of attorney that you have the power to do basically everything, get them to sign an undated resignation letter and put your signature on the bank account.

:thumbsup

are there any chances of the nominees taking my money and running?

Just be careful of the bank you choose to use. Banks in the US have far reaching hands.

When I first moved to Mexico, we decided to open an account here, and checked out a few. We were chatting with one of our neighbors, ( retired here 10 years ago ) and they told us not to use Banamex. We inquired, and they said that it is owned by Citi Bank, and had been reporting the money in the americans accounts to IRS.

I am looking into the Bank of Cyprus