U.S. Board-Member Service
Our U.S. contract officer service and why it’s crucial for the smooth operation of your US business
Introducing our U.S. Director service and why it’s crucial for the smooth operation of your US business
Mount Bonnell will provide a U.S. director for your corporation. That person will be a U.S. based employee of our law firm. They are usually called the “President of the Corporation”, but another title may be chosen.
In regards to your company, it is important to have a U.S. director for two reasons:
The director’s details will be published in the Register of Companies in the state where your company resides. This means that no other members of the executive board need to be reported in that Register (the law stipulates only one person per company). The shareholders do not need to be entered in the Register.
The U.S. director will be one of the signatories for the company’s U.S. bank account. Therefore, the U.S. director can save you from making a trip to the United States by completing the bank account opening for you. Although later you must visit the U.S. relevant bank to ensure that you are added to the account as a signatory.
If you wish, you too can become a director of your U.S. company. Alternatively, you will receive the power of attorney and the general power of attorney issued by the director.
Account Authorization
Once the US company director is appointed by Mount Bonnell that individual opens an account for the company. The director, initially at least, becomes the sole signatory of that account. However, we will give you the online banking details, as well as the debit card, as soon as this is practical. But technically, it is the appointed director who becomes the authorized signatory.
Nevertheless, we recommend that you come to the U.S. within the 6 months after the establishment of your U.S. company. Then you will come with us to the company’s bank and sign as the authorized signatory. However, even after that, your U.S. director is still authorized to sign for the company’s bank accounts. This is a banking requirement.
We understand if you feel unsure about this aspect. Unfortunately, it is out of our hands. However, we will provide further information about this to help offset any doubts you may have.
No Involvement in the Daily Running of the Business
The appointed director will not be involved in the day-to-day running of your U.S. business. Their responsibilities as such are limited to administrative tasks.
In addition, the US director should not be represented as a manager in your marketing material or on the company website. The director will not sign any contracts on your behalf. If they choose to receive the power of attorney, however, they will then be able to sign all contracts for the company.
Need Advice on Taxation, Company Formation, and Residency in the United States?
If you already have a project that you want to implement in the U.S., you will most likely have already dealt with the intense framework conditions in the U.S. Online, you can find a wealth of information on almost every subject. Though all this information is available, it is common for one to reach a point of confusion. There are too many aspects to consider simultaneously and the starting position can be complex.
To solve this mental knot and pave your way to success, jump on a 1-hour telephone counselling session based on taxation, incorporation, and residency in the U.S. In this conversation, we will discuss specific technical issues such as tax, U.S. corporations or LLCs. Or we can discuss any strategic options you are considering.
Moving to the States – lock, stock and business – is not simple, but it doesn’t have to be hard either. We have a lot of information on line for you, but the Mount Bonnell ethos is that personal touch so lacking in so many of today’s businesses.
Like the Texas of old, we are true to our word. And like the founders of the Lone Star State we intend to make things as easy as possible for the people we work with so give us a call. We’re waiting – expecting even – that call about a question or questions you feel embarrassed to ask. Whether technical, financial or personal, don’t be shy. We have heard them all before, and, what’s more we enjoy answering them.
So what are you waiting for, book a consultation and let’s get started.