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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 Macedonia

January 28, 2013, 6:52 am
BridgeWest

 Macedonian limited liability companies and joint stock companies are represented on the market and in front of third parties by a company’s administrative. In certain situations, when the confidentiality of the interest of the beneficial owner in that company must be protected, its name is replaced by the name of a nominee director.

Even though in the offshore jurisdictions, the term “nominee director” is appointing a “straw men” with the main role of renting his name for the company and with limited liability in it, the Macedonian legislation is avoiding the use of it in that sense, mostly in order to avoid money laundry in the companies. In an offshore company, the nominee director is registering the company and elaborates a power of attorney which will grant all the powers to the beneficial owner. In some cases are also responsible for signing various documents elaborated by the company’s accountants but are not allowed to sign in their names on the company’s bank accounts.

In Macedonia, the nominee director must be carefully chosen as he/she has the role of company administrator with full rights and responsibilities as the company’s directors: can convene the general meetings of the shareholders, must keep various books and statements, must elaborate various reports and present it in front of the beneficial owners, can operate with the company’s bank accounts, can  elaborate or approve various marketing strategies, must participate at annual audits, must elaborate all the necessary documents for the company’s incorporation, liquidation or transformation. That’s the reason the Macedonian appointed nominee director must be a trustworthy, vertical and impartial individual or corporate body so it won’t perform any activity against the company or the beneficial owner.

Even though it offers confidentiality for the beneficial owner and a good knowledge of the commercial law, the procedure of appointing a nominee director is not very popular in Macedonia, 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 Macedonia, however BridgeWest can offer in certain cases nominee directors in Macedonia depending on certain specifics of your business in the country. Please contact us for more information.




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Company Formation in Macedonia

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