Frequently Asked Questions
- Do I have to come to UK for setting up the company?
- How is confidentiality ensured?
- If nominees are appointed, how am I safeguarded?
- Can I get a company or personal credit card?
No, you do not have to be physically present in UK either during the registration procedure or later when the company is operational. If you do not choose to set up a fully fledged office and you use our address as the registered office of the company, you can send us instructions on any aspect of the company's administration by fax or e-mail and we will carry out any necessary work. Some of our clients have never visited UK and yet they are operating very profitable IBCs.
Of course you are welcome to come and visit us any time in UK, use our office facilities and perhaps combine your stay with a holiday in UK.
Alternatively, if you choose to set up a fully fledged office on the island, you can move to UK with your family, as director of the IBC (subject to certain conditions).
When any company is registered in UK, the company's file at the Registrar of Companies (which contains details of the directors, shareholders, company secretary and registered office) is open to inspection by the public. IBCs can avoid this by appointing nominee directors and shareholders i.e. persons to act on their behalf. In such a case, it is the names of the nominees which will appear in the company's file. The identity of the true owners will only be disclosed to a local bank if the company chooses to maintain a bank account in UK. Information regarding the identify of the true owners is not disclosed to any third party or government authority unless it is in relation to a properly authorized criminal investigation (drugs, terrorism, e.t.c.).
If you choose to appoint nominee directors and shareholders (our employees can used for this purpose), then for your protection you will get the following documents:
Every beneficial owner will get an undated transfer of shares document from the respective nominee which can be dated by you at any time and filed at the Registrar of Companies. Also, a declaration of trust is signed by the nominee shareholder indicating that he is holding the shares in a trustee capacity and that he has no rights on those shares.
Also, every nominee director provides you with a signed but undated letter of resignation. You can put a date on this letter any time you choose and file the change at the Registrar of Companies thus removing the director. A similar procedure applies for the company secretary.
You can get both company and personal credit cards ,business overdraft, cheque book in Euros, GBP, US$, and business loan, subject to status. You can also get a debit card which is connected to your company or personal bank account.