Snowball Effect provides a nominee management service for a wide variety of companies and investors.
Snowball Effect provides this service to companies that raise capital through it’s capital raising service, as well as to companies who just require an independent party to manage their nominee.
The Snowball Nominee also integrates with Orchestra.io to provide both investors and the company with complete visibility into any activity (transfers, share purchases etc.) within the nominee.
Snowball charges a per investor onboarding fee to cover the cost of undertaking AML and compliance checks. This varies depending on the type of entity that is being processed i.e. an individual, trust or company.
Post onboarding, the cost for the management of the nominee is $25 + GST per entity (within the nominee) per month, with a cap of $450 + GST per month.
Nominees are used extensively throughout New Zealand, particularly for companies that are raising multiple rounds of capital. Often companies want to keep their cap table size to a minimum, and a nominee provides a simple way for this to be achieved.
You can read more about the use of a nominee here.
If you are interested in engaging Snowball Effect to manage a nominee, please email [email protected] and we’ll be in touch.