Thread: What remuneration for the nominee?

Hi Leeloo and welcome to the forum.

The first question is did your nominee have anything to do with the purchase of the land? If so then he or she has already received a commission of possibly 5%.

If they were not involved then there are several methods of payment depending upon what you intend to do: If you wish to develop the land for later sale then you can negotiate a % of the future sale price (up to 5%) in so far as the nominee is of assistance in that sale, payable upon final sale.

Or you can agree a yearly payment of 1or 2% to keep them happy. As far as I know it is entirely up to you what you agree.

Bear in mind that you are really only trying to keep him or her happy and honest, not make them wealthy.

if youre building a business..start a pma and buy the land in the business'es name,wich you own..no nameholder,no percentage paid..use the money 2% intented to pay the nominee,to set up this pma. As a bonus you get an instant kitas as well for this :). This way you are doing business legal,but you will have to pay taxes on income. But(2) a good lawyer can help you getting the taxes due down..in a legal way that is.