By core principles of proper corporate governance the company director must have control over the company assets. Thus it is practically a requirement that the director should serve as the bank account signatory. Of course, a system of additional verification can be established – for example, where transactions exceeding a certain threshhold require an approval from another officer.
If the company accounts are fully controlled by someone else while the company director is clearly a “nominee” without any real control, this is primary evidence that the company itself is merely a sham and used only as a nameplate for the owners personal business affairs. Consequently, this poses significant tax implications for the owner itself.
Of course, nothing precludes the owner of the company to also act as its director. In this case, however, the individual tax residence of the owner will play a crucial role, as it may also be deemed as the tax residence of the company itself.