Nominee Director Contract

**joshlim.718** · 10-04-2009 02:03 AM

Hello everyone,

I'm in the midst of incorporating a company and I'm using my relative's name as the nominee director due to the country's incorporation guidelines require the director to be the country's residence.

My relative role is just purely by name for the sake of incorporation and will not be involved in my business.

One of the thing he worries is that he might get into some form of problems if my company gets into trouble (fined, sued etc.) and I want to assure him that everything will be all right and even if there is problems, I will be solely responsible for it.

I was advised to include a nominee director agreement which states my relative's role and if all else fails, I will be solely responsible for everything.

Here is my question, is there a cost effective way to resolve this such as - is there any free downloadable nominee director agreement which I can use and will it be properly enforced once signed without any attorney witnessing/overseeing it?

I'll really appreciate it if you could let me know where I can get one, do I need to print out 2 copies so each of us hold one?

I did some google search and found some but unsure if it's appropriate or legally correct, in general it states the nominee director is by name only - he/she will not play any financial and business role in the company etc.

Hope you guys can help me out!

Thanks!
Josh