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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Nominee Director in Luxembourg

January 28, 2013, 6:51 am
BridgeWest

 A Luxembourgish company, whether is a limited liability company or a joint stock company, has at least one director, resident here, which can be replaced by a third party (bank, lender or shareholder) with a nominee director if it’s desired to keep the confidentiality of their interests in the company.

Unlike in the offshore jurisdictions, the nominee director has the same responsibilities as the usual administrators. The company’s nominee director is responsible for keeping particular customers and suppliers contracts, employment contracts, lease contracts, balance sheets and any official act on behalf of the company, deliver relevant information regarding him and the company to the competent authorities, record the company at the specific registers and authorities, sign and administrate the company’s bank accounts, participate at annual audits, convene general meetings of the shareholders and provide any information required in the company’s transformation or liquidation process. Some of these responsibilities can be limited by the company’s articles of association provisions.

Usually, in an offshore jurisdiction, the name of the nominee director is rented by the company’s beneficial owner and used in the registration process, so full confidentiality to be offered regarding its interests in the company. In certain cases, a nominee director of an offshore company can sign various documents already elaborated by the company’s accounts but it cannot operate the company’s bank accounts for example. After the registration process, the powers are usually granted trough a power of attorney to the beneficial owners.

Because of the role of company administrator granted to the Luxembourgish nominee director, the appointed person must have a clean background, be a trustworthy, vertical person.

The procedure of appointing a nominee director is not very popular in Luxembourg even though it offers confidentiality and a good knowledge of the commercial law, mostly due to the above characteristics, being a process usually characteristic to the offshore jurisdictions. There is no legislation to regulate the process of appointing a nominee director in Luxembourg, however BridgeWest can offer in certain cases nominee directors in Luxembourg depending on certain specifics of your business in the country. Please contact us for more information.




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Company Formation in Luxembourg

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Any person or legal entity, national or foreign, can be a shareholder or a director in a [More]

Lawyers in Luxembourg

Luxembourg

BridgeWest provides a wide range of legal services in Luxembourg through our affiliated Luxembourg lawyers and Law Firms. We are mainly specialized in the main aspects of Luxembourg Commercial Law, including Company Formation, Debt Collection, Com ... [More]