A nominee shareholder is an individual or entity appointed to act on behalf of the actual shareholder in a non-beneficial capacity. This service is typically used when an LLC shareholder wishes to remain anonymous and keep their personal information off the public register.
Similarly, a nominee director is an individual or entity appointed to act on behalf of another person or corporate body in a non-executive capacity. The main objective is to safeguard the identity of the real company director by having the nominee’s details appear on public records instead of the actual director’s information. Nominees are not given any hands-on responsibilities but may be required to sign certain internal documents on behalf of the true director or secretary.