Trustee ServicesAll nominee services are provided through our network of service providers including nominee directors, shareholders, secretary and an office as registered office.
The appointed nominees hold the shares in trust and/or act according to the instructions of the beneficial owners.
The beneficial owners are responsible for the appointment and removal of the nominee directors, secretary and shareholders. The name of the beneficial owner is only disclosed to the bank. Unless there is a disclosure order by a Cyprus court, neither our firm, nor the service providers as nominees, nor the bank share this information with any governmental or other institution. Such an order is issued in cases where there is valid suspicion that the beneficial owner or activities of the company do not comply with AML (Anti-Money Laundering) requirements.
Under Cyprus law, every company must have a company secretary and a registered office address in Cyprus which is used as the company's official address for the receipt of any official documents. "Registered office as a nominee service" means that your company will be registered legally at the provided address.
A "nominee shareholder" is the legal owner of the shares of a company. The nominee is obliged to hold the shares for the benefit of the beneficial owner and act under his instructions.
Therefore a Trust Deed, which secures the rights of both parties, is signed between the beneficiary owner and the nominee shareholder. For foreign clients it is advisable that the majority of the Board of Directors consists of Cypriot Nominee directors for the purposes of tax planning.
Therefore, a company can claim Cypriot residency and take advantage of Cyprus tax system and tax treaties offered by Cyprus. According to Cyprus Tax Law in order to be considered a tax resident in Cyprus a Company must be managed and controlled from Cyprus. This means that the majority of the Board of Directors should reside and work in Cyprus.