A fiduciary is an individual or company granted the power to act on behalf of another person of company. Fiduciary services are quite common in Ireland and are mostly requested by foreign investors when doing business in the country. Both natural persons and companies are allowed to provide fiduciary services in Ireland and among the professionals providing these types of services are usually accountants, attorneys, business or financial advisors and even real estate agents. Among the fiduciary services available in Ireland, one can find:
Our experts in company incorporation in Ireland also provide a wide range of corporate fiduciary services.
Probably the most important fiduciary services investors can benefit from in Ireland are the corporate ones. Complete corporate fiduciary services include nominee shareholder, director and secretary services in Ireland. The main reason foreign investors would appeal to professional services is the legal issues they could face when setting up a company in Ireland. Also, the Irish legislation allows professionals to provide these types of services and even recognizes nominee shareholders and directors. Fiduciary services are usually required by investors wanting to protect their identity. In order to appoint a nominee shareholder in Ireland, one must only sign a Declaration of Trust that will contain all the powers and duties of the fiduciary.
According to the Irish Commercial Law 2014, companies’ secretaries are given more responsibilities, which is why appealing to the fiduciary services of professionals is recommended. Given the fact a company secretary must keep all the company’s registers and file required documents with the Irish Companies Registrar, it is best to have a professional dealing with all these documents and handling the relation with the Trade Register. An Irish nominee company secretary would fulfill these duties without having to hire a person for this specific job.
For a complete list of the fiduciary services available, please contact our Irish specialists in company formation.