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According to a statement of confidence – nominated shareholders, Nominee shares are held in trust by Nominee`s shareholder for the beneficial owner, and the nominee has no economic interest in these shares. A nominated agreement results in a simple trust on the shares, and under a cash trust, the nominee has no discretion over the assets that are subject to the trust. There are several reasons why nominated shareholders are used, the main reason being privacy. In the event of a nominated agreement, data protection is respected with regard to the shares held by the beneficial owner in the shares, since only the person designated as shareholder is registered in the register of members of the company. Since the company believes that the nominee shareholder is entitled to all benefits and can exercise all rights related to the shares, a declaration of confidence is necessary to establish the conditions under which the nominee holds the shares and under what conditions the beneficial owner controls the manner in which the nominee exercises the rights related to the shares. Why nominate a nominated shareholder? People appoint nominal shareholders for two main reasons. The first is to meet personal and business requirements in order to remain anonymous, regardless of why they wish to keep their name and personal data away from public documents or records. According to the definition, Nominee shareholders are named as beneficiaries for certain shares of a company. If you register a private company or another type of limited liability company, you can appoint a nominated shareholder. Under UK company law, all shareholder information must be recorded in Companies House and in the company`s legal registers. Therefore, if, as a beneficiary, you wanted to protect your identity as the rightful owner of a business, a nominated shareholder is the answer. This Declaration of Trust – Nominated shareholders are used when the shares of a company are registered in the name of a nominated shareholder, but are held for the benefit of another person, the beneficial owner.
The reason for the appointment of a nominal shareholder may vary from one beneficiary to another, but the reasons mentioned above are the main reasons. Notwithstanding the PSC regime, nominated agreements may continue to be used. Depending on the amount of the participation concerned and the reasons for the introduction of the agreement, the data of the beneficial owner are not entered in the register of members of a company, but they may be covered by the PSC scheme. . . .