The beneficial owner always have the ultimate decision-making rights on all significant strategic issues, while the company management should be vested in an independent board of directors. Of course, the beneficial owner can have direct signatory rights if he also serves as an officer or in any managerial capacity in his own company. The beneficial owner may act as a controlling co-signatory in the company bank account, typically for transactions that exceed certain size.
In some cases, for sake of expediency, limited representation rights can be allocated by means of special powers of attorney – for example, delegating the negotiation and execution of a certain business deal abroad.
In a properly managed company, the owner should not even need to have any signatory rights, as proper governance can be carried out by a competent board of directors.