Directors are responsible for ensuring that the statutory books of the company are maintained correctly, its regulatory filings are done in a timely manner, accurate accounting records and annual accounts are maintained, shareholders and directors meetings are conducted as per the law, and their fiduciary duty towards the company is honoured at all times in all their official actions.
With globalization, many multinational firms are expanding their operations in India. grow their operations in India. But similar to most offshore jurisdictions India also require publishing of company registers and/or have statutory compliance to have at least one local resident director.
In case a foreigner wants to incorporate a business in India but does not have a local to serve as the resident director, they can hire a third party to act in the capacity of a director as a nominee.
The Nominee Director fulfils the legal and regulatory obligations of the company and does not play an active role in the company’s operations by acting in good faith and in the best interests of the company.
The Nominee director acts as a local representative and bridges the language barrier. It is the duty of the nominee director to act in the best interests of the company.
Role of Nominee director
The name ‘Nominee’ is used to indicate that the director role is strictly a non-executive role in companies. It is provided only to help satisfy Indian law and regulatory compliance and thus does not involve the Nominee Director taking any other forms of direct involvement and risks in the operation aspects of the business.
While the director role of the company in India is non-executive every director still must abide by a general duty to ensure the company remains compliant. Therefore the nominee director position name still carries a general responsibility and inherent liability to the potential risks. We help mitigate the liability through appropriate insurances for our Nominee Directors, including a Deed of Indemnity and Directors & Officers Insurance obligations.
How can we help?
With our nominee director services, we make sure to protect the identity of our client from public records while also ensuring that our client has full control over the company through a power of attorney (POA).
A Power of Attorney (POA) is a contract between a person and the nominee director that allows them to represent or act on your behalf in the company. The nominee director will not be involved in any operational activities of the company.
A nominee director is delegated to manage day-to-day company affairs strictly under the instruction of the business owner. The roles and responsibilities of a nominee director is stipulated in the agreement, which is also used to protect the business owner from any misconduct of the nominated person.
Why we are unique?
Our nominee directors act for the client after instructions are given by the client and in accordance with the terms of the agreement established between the nominee director and our client.
We provide nominee director services to individuals as well as businesses that desire to maintain their anonymity in the registers.
While serving as a nominee director, our trustworthy and knowledgeable professionals assist businesses in maintaining their good standing status and ensuring regulatory compliance. We designate reliable officers and uphold the strictest privacy regulations. Our experts will help you with additional rules pertaining to company incorporation, in addition to offering you a nominated director while maintaining the highest secrecy.
Our nominee director service includes:
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