Corporate Services

Local director service

Eteria provides the local nominee director service for both new and existing companies, with fair rates and with the guarantee of high quality and professionalism.

The local director service allows you to appoint a reputable and trustworthy professional as director for your company who will be able to carry out some important functions guaranteeing you maximum confidence, reliability and efficiency.


What are the advantages?

There are many advantages in the possibility of using an Italian local director, especially in the period of epidemiological emergency from COVID-19 in which travel and movement of individuals across borders are still severely limited by individual national governments.

A first advantage is the simplification of the bank account opening procedure.

In order to open the company's bank account and start operating (i.e. make withdrawals, payments, transfers, deposits, etc.), a company director must physically go to the bank branch and register his signature. Unless the company decides to open a bank account at an online bank (which offers reduced services compared to a traditional bank), there is no alternative to allow the bank to remotely verify the administrator's signature, other than to make an appointment and personally go to the branch.

The local director provided by Eteria may:

  • Sign the contract for the opening of the bank account and the related home banking and register his signature at the bank branch
  • Sign applications for cheque books
  • Turning cheques for cashing without limit of amount
  • Present the issued invoices and bank receipts to the bank to obtain advances and sign the relevant forms
  • Consider, on a case-by-case basis, assisting customers with the registration of paypal accounts.

A second advantage is the possibility for the local director to represent your company to carry out certain tasks with the Italian Public Administration, avoiding wasting your time and effort.

The local director provided by Eteria can:

  • Represent the company to the Public Administrations, Municipalities, Provinces, Regions, Bodies and Public Offices for all the acts and operations required to obtain concessions, licenses and authorizations
  • Represent the company at the offices of Customs, General Warehouses, points and free warehouses of both private and concessionary transport companies on land, sea and sky, both Italian and foreign, as well as insurance companies
  • Represent the company at the Labour Inspectorate, the Regional Labour Offices, the compulsory insurance institutions
  • Represent the company at social security institutions
  • Keep and sign the company's ordinary business correspondence.

 

Can the local director manage the company?

No, the local director cannot manage or be involved in the day-to-day management of the company and our clients will be solely responsible for the management: the local director will not come to your office, will not be able to attend any company policy meetings and will not engage in any business negotiations on behalf of the company. You will be asked to appoint, in addition to the local director provided by Eteria, one or more executive directors (who may be resident in any country) to manage the company's business.

 

 

Are there any risks?

Prior to the appointment of the local director we will carry out a due diligence check on the client (KYC), after which an agreement will have to be signed indicating all the tasks of the local director: this means that our clients have full control over the degree of involvement of their local director, avoiding any risk.

We work closely with our clients to understand their requirements, enabling us to draw up clear agreements that meet their requirements and our team can advise you on the best options available to you. We follow the "trust but verify" model: we take it for granted that our clients are honest and well-intentioned people and we want to have them as our clients, but, in accordance with international anti-money laundering regulations, we carry out KYC checks as any service provider is required to do by the Italian government.

 

Is a security deposit required?

Most service providers also require a security deposit. By default, Eteria does not require a security deposit; however, it may require it if the client's company has a high risk profile (it should be noted that the local director is required to pay the liquidation costs of the company if the client is no longer reachable).

The security deposit should not be confused with our service fee or any other fee. The deposit is temporarily stored for the duration of the local director service and will be returned to you immediately after the deactivation of the service.


Can I terminate the local director service at any time?

Yes, you can terminate your local director service at any time by providing us with details of one or more alternative directors. We will take care of all the necessary paperwork, including preparing the directors' resolution and completing the forms for registering the new director's signature on the bank account; we will submit the change of director to the relevant authorities and the bank where the company's account has been opened.

We will be pleased to answer all your questions without any obligation

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