Q: Partner agreement with proxy shareholder
I have a company and in order to get a specific license I need to add a local partner and give this person 30%. He will basically hold this 30% as a proxy and I like to do some contract that he has the shares on his name but is only holding these are proxy and has no rights otherwise and can be requested at any time to give up the shares. In addition I guarantee that no costs or losses will be on his name. Is there any such agreement since this is usually common in many countries.
A: You are asking someone to stand as a 30% owner of a closely held business without making an investment? Just a fake shareholder with no rights? It is what it is and in my opinion, you are setting yourself up for a breaking of the corporate shield. In order to get your question answered what you should do is to actually go see an attorney. If it is important enough to you to do it right, you should be willing to spend the money to actually get legal advice on this, and other subjects. What you need is not free advice, but specifically tailored legal advice to the circumstances.
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