Appointing a professional management firm that will manage your non-controlled corporation provides you with the maximum protection. To ensure the safety and security of your corporate assets, professional managers can be appointed as directors of the corporation making it so that you are not publicly named as a director of the IBC.
This may be important, because even if you are clearly not a shareholder, the mere fact of being an officer may appear that you, in reality, still control the assets and thereby still retain a beneficial interest in them.
Consequently, a court can easily compel you to repatriate assets if it is seen that you still control them on paper. The onus would be on you then, to prove to the court why you are not able to comply - not a pleasant prospect to consider. Our firm offers a number of management services that give you both protection and peace of mind that your assets will always be yours and under your authority.
The most common way of doing this, is for a corporate nominee director to provide you with a Power of Attorney in all matters related to the running of the corporation. This will allow you to act in the place of an officer of the company without actually being one. You can sign agreements, open accounts on behalf of the company or anything else that is required for the day-to-day running of the company. This will give you a high-level of protection while still having control over the company.
However, in the case of any legal action being brought forward against you, the fact that you have Power of Attorney to act on behalf of the company, may be closely scrutinised to determine if you were acting as the company was an extension of yourself.
If that possibility still seems a risky, there are ways where you can avoid having your name associated in any way with the company. That is to avoid signing on any corporate documents, on behalf of the company. Nominee directors can be called upon to sign, where appropriate, on necessary corporate resolutions and business agreements of all types, and even act as a signatory on banking and investment accounts.
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Why You Need A Plan B
Threats to Your Assets
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