Growthify

Nominee AGREEMENT WITH GROWTHIFY

DRAFT YOUR NOMINEE AGREEMENT WITH US

We draft, register, and deliver your Nominee Agreement , precisely identifying beneficiaries, Asset allocation, and trigger events in clear terms. We handle state-specific stamp duty, registration, and tax compliance to ensure zero rejections. Plain language spells out rights and duties, putting Nominees at ease. Investors trust us because banks and registrars accept our documents on first submission, avoiding delays and disputes.

A Nominee Agreement is a legal document that says, “This person (the Nominee) is officially authorized to hold assets or act on behalf of another person or entity (the Beneficial Owner).” It’s commonly used in business setups, property ownership, investment holdings, and financial arrangements where the real owner wants to stay behind the scenes. The agreement clearly defines the nominee’s role, responsibilities, and limitations ensuring transparency and legal protection for both parties.

A good Nominee Agreement protects your interests, avoids misunderstandings, and keeps everything legally sound. A poorly written one can lead to disputes, financial risk, or legal trouble.

A Nominee Agreement is essential when someone holds assets or acts on your behalf whether it's property, shares, bank accounts, or business interests. It ensures Clarity in roles, Trust between parties, and strong Legal Protection in case of disputes or audits. This agreement defines exactly what the nominee can and cannot do, safeguarding your ownership while maintaining confidentiality. With Growthify, you get a fast, customized, and legally sound agreement that’s ready when you need it.

TYPES OF NOMINEE AGREEMENTS

Nominee Agreement vary by purpose, each requiring specific content to meet legal requirements.

01

Property Nominee Agreement

A Property Nominee Agreement is used when a nominee holds real estate on behalf of the actual owner, often for privacy, convenience, or legal structuring. This agreement clearly states that the nominee is not the true owner but merely holds the property in trust for the beneficial owner. It outlines the nominee’s responsibilities, such as maintaining the property, paying taxes, and ensuring compliance with local regulations. It also specifies the conditions under which the property can be transferred either back to the owner or to a third party ensuring that the beneficial owner retains full control over the asset despite not being listed on the title.

02

Shareholding Nominee Agreement

This agreement is common in corporate environments where shares are held by a nominee to protect the identity of the actual shareholder or to meet regulatory requirements. It defines the nominee’s role in holding shares and clarifies that the beneficial owner retains all economic and decision-making rights. The agreement typically includes provisions for voting rights, dividend distribution, and restrictions on share transfers. It may also include confidentiality clauses to safeguard the identity of the beneficial owner. This structure is often used in offshore companies or private equity arrangements where discretion and control are key.

03

Bank Account Nominee Agreement

A Bank Account Nominee Agreement allows a nominee to manage or hold a bank account for someone else, often used for elderly individuals, minors, or people living abroad. The agreement outlines the nominee’s access rights, including whether they can deposit, withdraw, or view account details. It also defines financial responsibilities, such as liability for overdrafts or misuse of funds. Additionally, it may include reporting obligations, requiring the nominee to provide regular updates to the beneficial owner. This ensures transparency and accountability while allowing the owner to delegate financial management.

04

Investment Nominee Agreement

This type of agreement is used when a nominee holds stocks, bonds, mutual funds, or other financial instruments on behalf of the beneficial owner. It ensures that the nominee acts solely as a custodian and does not have ownership rights over the investments. The agreement includes clauses on custodial duties, reporting requirements, and the handling of returns such as dividends and capital gains. It may also address tax implications, specifying who bears the tax liability. This arrangement is common in wealth management and portfolio administration, where professional custodians manage assets for clients.

05

Business Nominee Agreement

A Business Nominee Agreement appoints a nominee to act as a director, partner, or representative in a business, while the actual control remains with the beneficial owner. This is often used in jurisdictions that require local representation or for strategic anonymity. The agreement defines the nominee’s authority limits, specifying which decisions they can make independently and which require prior approval. It also includes confidentiality clauses and a termination provision, allowing the beneficial owner to revoke the agreement if needed. This structure helps maintain operational control while meeting legal or strategic requirements.

06

Trust Nominee Agreement

In trust structures, a Trust Nominee Agreement allows a nominee to hold assets for the trust or its beneficiaries. The nominee acts as a fiduciary, meaning they must act in the best interest of the trust and its beneficiaries. The agreement outlines the nominee’s legal duties, including asset management, compliance with trust laws, and reporting obligations. It may also include investment guidelines and distribution protocols. This type of agreement is essential in estate planning and asset protection, ensuring that the trust operates smoothly and in accordance with legal standards.

07

Legal Representation Nominee Agreement

This agreement appoints a nominee to represent someone in legal matters, such as litigation, arbitration, or administrative proceedings. It defines the scope of representation, including the specific legal issues the nominee is authorized to handle. The agreement also clarifies the nominee’s decision-making power—whether they can settle disputes or must consult the beneficial owner. Duration and termination clauses are included to specify how long the representation lasts and under what conditions it can be ended. This arrangement is useful when the actual party is unavailable or wishes to remain anonymous in legal proceedings.

HOW GROWTHIFY MAKES IT EASY

Growthify platform provides tailored drafting of any and every kind of Nominee Agreement

1. Gathering Key Information

We begin by asking the right questions through a simple form online or offline. You’ll provide details about who the nominee is, their responsibilities, and the rights they’ll hold under the agreement.

2. Drafting the Agreement

Based on your inputs, our legal team creates a tailored Nominee Agreement. We include all essential clauses and recommend additional protections such as confidentiality, indemnity, and dispute resolution to safeguard your interests.

3. Ensuring Legal Compliance

We carefully review the agreement to ensure it complies with local laws and regulations. Every clause is designed to stand up to legal scrutiny and meet regulatory standards.

4. Managing Notarization (If Required)

If notarization is necessary, we handle the entire process for you from preparing the documents to coordinating with authorized notaries so you don’t have to worry about the formalities.

5. Delivering the Final Document

Once the agreement is finalized, we deliver it to you in your preferred format digitally or physically. You’ll have the opportunity to review the draft, request changes, and finalize it with confidence.

IMPORTANT CLAUSES FOR THE NOMINEE AGREEMENT

Nominee Agreement vary by purpose, each requiring specific content to meet legal requirements.

1. Appointment of Nominee Clause

This foundational clause formally appoints the nominee to act on behalf of the beneficial owner. It identifies both parties and specifies the nature of the relationship. It should clearly state that the nominee is acting in a fiduciary or representative capacity and does not hold any beneficial interest in the asset or rights being managed.

2. Declaration of Trust Clause

This clause affirms that the nominee holds the asset (e.g., property, shares, bank account) in trust for the beneficial owner. It legally separates ownership from possession, ensuring that the nominee cannot claim rights over the asset. This clause is critical for protecting the beneficial owner’s interests and preventing misuse or misrepresentation.

3. Duties and Responsibilities Clause

Outlines the specific obligations of the nominee, which may include:
1. Acting in good faith and in accordance with the owner’s instructions.
2. Maintaining accurate records and documentation.
3. Ensuring compliance with applicable laws and regulations.
4. Avoiding conflicts of interest and self-dealing. This clause ensures accountability and sets performance expectations.

4. Confidentiality Clause

This clause binds the nominee to maintain strict confidentiality regarding the agreement and any information related to the beneficial owner or the assets. It prohibits disclosure to third parties without prior written consent and may include penalties for breach. This is especially vital in shareholding and business nominee agreements where privacy is paramount.

5. Rights of the Beneficial Owner Clause

Clearly states that the beneficial owner retains full control over the asset, including:
1. Right to income (e.g., dividends, rent, interest).
2. Right to vote or make decisions (in case of shares or business roles).
3. Right to direct the nominee’s actions. This clause reinforces the nominee’s limited role and the owner’s ultimate authority.

6. Transfer and Termination Clause

Specifies the conditions under which the agreement can be terminated or the asset transferred. It may include:
1. Notice period for termination.
2. Events triggering automatic termination (e.g., death, insolvency).
3. Procedure for transferring the asset back to the owner or to a third party. This clause ensures a clear exit strategy and protects both parties from uncertainty.

7. Compensation and Reimbursement Clause

If the nominee is compensated, this clause outlines:
1. Fee structure (fixed, hourly, or percentage-based).
2. Payment schedule and method.
3. Reimbursement for expenses incurred while performing duties. It ensures transparency in financial arrangements and prevents disputes over payments.

8. Indemnity and Liability Clause

Protects the nominee from liability for actions taken in good faith under the agreement. It may include:
1. Indemnification by the beneficial owner against legal claims, losses, or damages.
2. Limitations on the nominee’s liability for negligence or misconduct. This clause is essential for risk management and legal protection.

9. Duration and Renewal Clause

Defines the term of the agreement whether it is fixed, indefinite, or renewable. It may include:
1. Start and end dates.
2. Conditions for automatic renewal.
3. Procedures for extension or renegotiation. This clause provides clarity on the agreement’s lifespan and continuity.

10. Governing Law and Jurisdiction Clause

Specifies the legal framework that governs the agreement and the jurisdiction where disputes will be resolved. It should include:
1. Applicable law (e.g., Indian Contract Act, local property laws).
2. Exclusive or non-exclusive jurisdiction. This clause is crucial for legal enforceability and dispute resolution.

PROTECT YOUR ASSETS WITH TRUSTED NOMINEES

DRAFT YOUR NOMINEE AGREEMENT WITH US

Nominee Agreement vary by purpose, each requiring specific content to meet legal requirements.

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Growthify platform provides tailored drafting of any and every kind of Nominee Agreement

Nominee Agreement vary by purpose, each requiring specific content to meet legal requirements.