For company management there are two options:

Option 1: Company managed by a Director

For this option, the company is managed by an individual or corporate body professionally qualified to do so. This service can be provided by the Registered Agent (Aubergine Group Inc.), as we possess the appropriate license to do so and our actions are supervised by the Financial Services Commission. Any other appropriate person or company may also provide this service at the discretion of the beneficial owner of the Company.

Option 2: Company managed by the owner

The beneficial owner of the company can be appointed as the Director also. However, we would require to be kept advised of all resolutions passed in order to ensure that the business activities of the Company do not change from those intended and if so, we would then require additional information on the Company.

ADVANTAGES OF BENEFICIAL OWNER AS DIRECTOR

When the beneficial owner of a company acts as Director, there are two known advantages:

1. the annual maintenance costs are lower as there are no director fees to be paid out; and

2. the structure of the company is simple and clearly understandable.

DISADVANTAGES OF BENEFICIAL OWNER AS DIRECTOR

There are also several disadvantages, namely:

1. The director who is also the owner of a company could face tax consequences in his country of residence or domicile. In some high-tax countries an offshore company may be required to register for tax purposes if it is managed from within that country. For tax purposes, the place where the Directors reside determines the jurisdiction from which management and control of the company takes place. In this instance it would therefore not make a difference that the company is incorporated in another jurisdiction.

2. Confidentiality would be lacking when the beneficial owner acts as director. Matters of personal taxation, protection of assets against litigation or, as previously mentioned the maintenance of secrecy would be compromised.

If these are important considerations which we believe they are it would be of utmost importance to retain Company Management services either by the Registered Agent or a third-party Company Manager. This would ultimately shield the beneficial owner of the offshore company from most public scrutiny and an obvious direct relation to the company.