A company needs a designated director because the Philippine government requires that there be at least 3 to 5 resident directors, each person holding at least one interest in the company. If there is a reason why the parties are not willing to go to the public and participate in the proceedings, you can also appoint a leader who may be the face of your organization. This makes your manager the person who has total control of your business. No no. However, please note that any member of the Board of Directors or supervisory board is fully responsible, whether or not they are acting as a candidate. When a shareholder designates a shareholder designated as a formal shareholder on the shareholder register, only the designated shareholder, not the actual shareholder, has the right to exercise the rights as a shareholder. Here are some advantages and responsibilities of a director appointed to the Philippines. At Business Setup Worldwide, we offer nomine management services to our customers. Our experienced advisors will help you find the best nominee for your business and help you start a business in the Philippines, with visa requirements, corporate secretariats and much more. Contact us for more.

We`re here to help you find the best of your needs. A nominee director is a person who is usually appointed by the shareholder/investor to express the shareholder`s interests to the board of directors. The person is usually from the country where the offshore company is founded. The most common possibility of creating a contract of nominal shareholders is for the candidate to declare, to your advantage, a trust on the shares and sign a declaration of confidence. While there are other ways to do this, such as the use of call option or loan contracts, they are more complex and appropriate for countries that do not recognize the concept of trust or prohibit the use of nominated structures. In the declaration of confidence, you would generally ensure that the candidate is committed to responding only to your instructions, immediately transferring the shares at your request, and assigning you all rights and benefits in the actions. In each of these scenarios, the main risk is to lose ownership of the shares, lose confidentiality, look at the consequences of the unauthorized actions of the Director-designate, and incur significant legal costs to enforce your rights.