Every company must have a Board of Directors which is responsible for the effective running of the business and the company’s activities and trade. The size, legal responsibilities, power, and duties of the Board of Directors vary with the nature of the organization and the jurisdiction where the company is registered. These are determined by government regulations of the specific jurisdiction where the company is domiciled.
It can beneficial for the client to appoint a resident director to ensure ongoing compliance and facilitate the liaison with the local authorities. The resident director would ensure that the company is operating according to the laws of the jurisdiction and any specific regulatory norms where your company is registered. The directors need to be qualified professionals with relevant industry experience that will add value to the operation and management of the company. Directors must also be experienced and knowledgeable individuals who have the requisite skills and background to carry out the role, and who understand the needs of each private client.