What documents will I receive after appointing the services of a nominee director? Providing the necessary documentation is a vital step in the process of setting up a nominee director, and our team at Coddan always ensures that this takes place in a timely and professional manner. The overall objective is to ensure that while the nominee director is officially named as being the party in charge of an registered private company, the actual control of a business rests with the beneficiary owner.
To maintain the legality of this type of business arrangement, a number of documents are drawn up to make all elements 100% legal and verifiable in the event of an inspection.
Nominee directorship agreement: this can be considered as an overall 'summary' of the arrangement, and it includes the details of each party - showing both the nominee director and the beneficiary owner. Naturally, the only section that will appear in Companies House records will be the details about the nominee director.
As the part of the nominee director services, you will also get the signed, but undated resignation letter from your nominee director, which allows you to accept the nominee resignation at any time, and appoint your own candidate to the role of a director of your limited company.
Nominee director indemnity letter: this document (nominee director indemnity agreement) acts as confirmation that full control of the business rests with the beneficiary owner, and not the nominee director. Comprehensive information about the beneficiary owner will be displayed here, and this is a vital legal step to show that you are 100% responsible for the actions of the company, with the nominee director simply acting as the public-facing director of the business.
Declaration of the beneficiary owner: for the overall protection of the true owners of a business, this document shows that actual ownership of the company rests with the beneficiary owner - it is a further document to ensure that the nominee director is purely a named party in official records. In the event that proof of ownership is required for business or operational reasons, this validated document can be used to clarify the situation.
The general power of attorney: in order to carry out a variety of activities, including opening and operating a bank account, a general power of attorney document is necessary to show that you are entitled to proceed as the controller of a business. If your name does not appear in Companies House records, this alternative proof is vital to show that you have the power to act on behalf of a company. The general power of attorney comes together with the special meeting of the board of directors, who authorise to issue this document.