Offshore Banking terms starting with N

3 terms

1. Nominee A nominee is an individual or entity, which acts on behalf of a beneficial owner.
2. Nominee Director Every IBC must have a Board of Directors. The Board may consist of one person or many people.
3. Noneconomic substance transaction Means the disallowance of any loss, deduction or credit, or addition to income attributable to a determination that the transaction or arrangement lacks…