Nominee director is only named on company documents. His/her roles and responsibilities fall within a designated service agreement, which is also used to protect the business owner from designee misconduct.
The nominee shareholder is appointed for holding shares on behalf of the company owner but is not the legal owner of the shares. Its main purpose is to attain anonymity of the beneficial owner.
The nominee shareholder will enter into an agreement, also known as Declaration of trust with the company owner, in which he/she is not entitled to perform voting right or dealing with shares without instruction from the company beneficial owner.
