Nominee Ownership and Direct Ownership
Business ownership is essential to the entrepreneurial dynamic of commercial settings. Without ownership, an individual is simply selling his or her time. The ownership of a Globally Owned Globally Managed Enterprise comprises of two parts: Nominee Ownership and Direct Ownership.
Nominee Ownership
Nominee Ownership is often associated with nominee director service or nominee shareholder service. Typically, nominee director service or nominee shareholder service is designed for foreign individuals who wish to incorporate a company in a particular country where the company law needs a local resident as the shareholder. Such services are perfectly legal devices that are designed to help individuals who would rather not disclose their interest or association with a given corporate body, hence provide anonymity and preserves privacy. The identities of the persons actually controlling the company are protected.
Gogme Learning Alfa uses nominee ownership to provide the first phase of business ownership. The choice of this form of ownership is to minimize business risks and liabilities to all co-owners. Gogme provides a very affordable nominee shareholder/partner service to make such an arrangement possible.
Direct Ownership
After the first year or upon Gogme LA reached sustainable profitability, there will be a poll to vote for direct ownership. Through direct ownership, co-owners will register their ownership of Gogme LA through the country’s business registrar.
In direct ownership, Gogme LA will use a new form of business entity, Limited liability partnership ( LLP) which is introduced in Singapore on 2005. This business entity offer limited liability protection, is a legal entity that can hold another company or property and has no restriction on the maximum number of partners. Thus, it is possible for 3,000 or more business partners to own a LLP. In Singapore, a more common type of business entity, Private Company limited by Shares has a maximum cap of 50 partners. Singapore allows 100% foreign ownership and has no problem to allow co-owners from different countries to own a business entity together.
Business Holding Entity
LLP is still not the ideal entity to operate businesses. It has a lower liability protection than Private Limited Companies in the sense that partners can be personally accountable for debts and losses resulting from their own careless actions. As such, we will use a very common method of liability protection and that is through a business holding entity. You will own the LLP, the LLP will hold all the funds but it will not conduct any business activities. The LLP being a separate entity will hold a Private Limited Company that conducts business activities. In this way, all co-owners will be protected against any liability.
Final Direct Ownership: Public-listed Company
Direct ownership through LLP and business holding entity is still not the most ideal form of ownership. A public-listed or public-unlisted company will be the target of Gogme LA to achieve. With the collective effort of co-owners from all over the world, there is a chance that the business we started from scratch together will be turned it into a public-listed company! Let’s collaborate and work towards this goal!
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