KYC:

  KYC stands for "Knowing Your Client" and is our Due-Diligence process. The documents needed for the KYC are the following:

                1. Certified passport copy of beneficial owner
                2. Proof of Residency (eg. Utility bill or bank statement not older than 3 months)
                3. Swiss Board Member acceptance (FT can provide)

                4. Completed FT Client Profile Questionnaire  

 

Onshore vs. Offshore:

 Offshore relates to registering, incorporating, or operating in another country, often with legal, financial and tax benefits. Offshore companies usually pay no taxes in the jurisdiction of incorporation and offer various anonymity and asset protection benefits. They also have lower overall operating costs. 



Within the context, onshore refers to incorporating in a home country or in a reputable jurisdiction, often located in one of the OECD countries. Onshore companies not only pay taxes but must also comply with all legal and tax filing requirements, which are often costly. 



Duration of incorporation:

The duration or incorpration time for a company, may vary between each jurisdiction. In general the duration is ranging between a couple of days and up to three weeks. 

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What is a Nominee Shareholder?

A nominee shareholder is an individual or entity that is granted the responsibility of holding shares of stock on the behalf of the actual owner. A shareholder of this type is accountable to the owner for how the assets are managed, with the terms of that accountability defined in a custodial agreement or other type of confidential document.



What is a Nominee Director?

A nominee director is someone who in fact is renting his or her name to you.  In other words, the name of this person is used and not yours for the incorporation documents.  They are also taking the positions on paper of the company directors.  The term of straw man or front man has been used to describe someone who is acting as the nominee.  Legally, according to the incorporation documents, the nominee is responsible for the company or entity.