Subscription rights may be granted by the UBO or the Director
Who can sign for the company?
Usually the subscription rights or powers of subscription, of the Seychelles Offshore Company, are set out in the IBC Company's constitutional documents, memorandum and articles of association. Usually, the directors sign, but it is not uncommon for shareholders to be granted some subscription rights (POA) are granted, especially in the case of large value transactions, changes in the company's constitution and other very important company events.
Anyone can also be appointed a bank account signatory by the beneficial owner, also known as an UBO (Ultimate Beneficial Owner). Bank signatories do not have to be directors or shareholders. A power of attorney, or POA, can also be given to a person who is not a director to sign on behalf of the company.
You can find more and further information in our Lexicon/Glossary or in the IBC Act.