Re opening an Amazon type account for your tax free Offshore Company or IBC, here’s how that usually works.
1. The Company is set up in a nil tax jurisdiction with a (nil tax jurisdiction based Nominee Director + a Nominee Shareholder (or Private Foundation Shareholder ie where the client is based in a country which has a CFC law). The client/company owner is appointed as an Authorised Representative of the Company. The client then shops for and then recommends a/the Online Store Platform (eg Amazon) for the company to open an account with.
2. To make it quicker and easier for the client what we normally do is provide you/the client with a Limited/Specific Power of Attorney (see sample below) which will enable you/the client to (a) obtain the account opening forms (b) apply to open the Amazon/equivalent account on behalf of the company as an authorised representative of the company and (c) to trade/operate (ie once the account is opened) the account as an authorised Trader (to assist this we also supply a Consultancy Agreement which is included in the price paid for incorporation).
3. The client obtains and completes the Amazon Account Opening Application and emails it to us for signing by the Company Director
4. We arrange for the application forms to be signed and for those + DD/KYC documents as regards the applicant company (and nominee director/shareholder etc) to be sent to Amazon.
POWER OF ATTORNEY
BY THIS POWER OF ATTORNEY given this xxxx day of mmmmmmmm 2020
XYZ TRADING LIMITED of YYY street, XXX City/State/Country(“the Donor”).
Hereby appoints ENTER CLIENT’S NAME HERE of ENTER CLIENT’S ADDRESS AND DATE OF BIRTH HERE (“the Attorney”) as the true and lawful attorney of the Donor for and in the name of and on behalf of the Donor to do all or any of the lawful acts or other things set out as follows:
- To do all things necessary and sign all documents as may be required for the Company to open a Seller Account with Amazon International.
- To place items for sale on Amazon, at such prices as may be advised by the Attorney, and to reply to sales inquiries received on Amazon
And the Donor hereby agrees at all such times hereafter, in the absence of fraud or gross misconduct, to ratify the actions of the Attorney carried out in good faith in furtherance of the above and to indemnify the Attorney in relation to whatever the Attorney shall do or omit to do by virtue of this Power of Attorney herein.
IN WITNESS of which the Donor has duly executed this document on the date first appearing above:
EXECUTED AS A DEED )
By XYZ TRADING LIMITED)
Acting by and in the presence of: )
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