The concept of Trust originates from English Common Law and is recognized in most English speaking countries. The essence of trust relationship is that the founder of the trust (Settlor, Trustor, Grantor) passes his assets to another person (Trustee) so that the latter hold and manage them for the benefit of a third party (Beneficiary).
We believe it’s not news for you that every company must have a board of directors. The board is to consist of at least one director and it’s very logical for the beneficial owner of a non-resident offshore company to appoint himself or herself as a director of the corporation or employ a professional manager for that position. However lots of companies are formed with a nominee director. Why is that so?