It depends on whom you want to hide your identity from. A nominee will not provide false information on any application or other form that requires the beneficial owner information. Therefore, your identity will not be hidden from financial institutions that you open an account with. If a nominee decides to lie and pretend that they are the beneficial owner, then there would be legal consequences if discovered.
At the end of the day, your identity will be know to the institutions that require beneficial owner information to establish a relationship. While conducting your regular business activities the nominee or authorized business representative would be the public face of your offshore business operations.
Many times this is not an issue since some offshore companies are used as asset holding companies and are not actively involved in any business. A nominee would not be necessary in this case because the director and shareholder information is not available to the public. The identity of the beneficial owner would still have to be provided to the institutions that require it to establish a relationship.
If you have any questions about the above, send us an email.