Nominee Services (Third Party Directors)

For clients residing in high tax countries, it would be advisable to opt for third party directors and create an arms length dealings if tax savings are to be made. This is because most onshore countries have provisions within their tax legislation whereby any company, no matter where it is incorporated, which is managed or controlled from within their jurisdiction will be tax resident there and taxable on its worldwide income at local rates. For example, any offshore company which had UK based directors would be tax resident in the UK and subject to UK tax on its worldwide income.

Failure by the directors to declare the liability of the offshore company to UK tax would be an offence with serious consequences. Hence it would not be advisable for onshore resident clients to act as the directors of an offshore company. Zenesis provides professional third party directors for a reasonable fee.