Viewpoints from Kaizen

INTRODUCTION Samoa comprises of several islands situated approximately halfway on a line drawn between Hawaii and New Zealand. Apia is its capital. The population of the islands is approximately 160,000.   Originally ruled by Germany from 1889 to 1914, Samoa was subsequently administered by New Zealand until it became the first South Pacific country to gain independence in 1962. Samoa was known as Western Samoa until 1997.   Samoa has a parliamentary system of Government with elections every 5 years. There are 47 members of the Legislative Assembly who elect a Prime Minister who, with an eight-member Cabinet and the Head of State make up the Executive Council.   Samoa’s legal system has its foundations in English and Commonwealth statutory law. The court system comprises the Magistrates Court, the High Court, and the Court of Appeal.   THE OFFSHORE INDUSTRY In 1987 and 1988 Samoa (then known as Western Samoa) […]

SAMOA INTERNATIONAL COMPANIES DUE DILIGENCE – BENEFICIAL OWNERS   SAMOA INTERNATIONAL COMPANIES DUE DILIGENCE – BENEFICIAL OWNERS Samoa has enacted laws to assist in the prevention of money laundering. Those laws require that background information be obtained in relation to the Company. We therefore require information on each Principal Beneficial Shareholder/Owner of the Company, meaning any person beneficially owning 10% or more of the shares in the Company. For each Principal Beneficial Shareholder of the Company we require the following information be sent to Kaizen by airmail or courier before commencement of company registration: 1. A clear certified* copy of the photograph page of their current valid passport, national identity photograph I.D. card or driver’s license that bears a photograph of the Principal Beneficial Shareholder. 2. A clear certified* copy of the residential address proof bearing the full name and full detailed residential address of the beneficial shareholder/owner. Residential address […]

SAMOA UPDATE – SAMOA INTERNATIONAL COMPANIES AMENDMENT ACT 2014 (“Amendment Act”) The Amendment Act regarding abolition of bearer shares and accounting records keeping for Samoa International Companies (the “International Companies? was enacted in 7 April 2014. The main amendments to the International Companies are as follows: – 1. Section 39 – Bearer shares and share warrants A memorandum of a grandfather bearer share company is deemed to be amended with effect from 27 January 2014 to state that the company is not authorized to issue bearer shares or share warrants to bearer, convert registered shares; and with effect from that date, the company shall cease to be a bearer share company. 2. Section 39A – Transitional provisions Any bearer shares or share warrants that have been issued by an international company to bearer prior to 27 January 2014 shall continue for a period of 12 months from the commencement of […]

1. Samoa Company Registration Costs Our fees together with the first-year maintenance fee for a Samoa readymade (shelf) company are USD1,050 excluding delivery fee. In particular, our fees cover: (1) first year license fee (2) first year registered agent fee and year registered office fee (3) first year nominee company secretary fee (4) One complete company kit including the corporate documents and company seal (5) our incorporation service charges An extra USD200 will be charged if the shelf company chosen comes with a Chinese name. 2. Documents to be provided by client for the purpose of incorporation (1) Photocopy of passport of each of the shareholder and director (2) Residential address with proof, such as utility bills, telephone bills of each shareholder and director (3) Proposed name of the company (4) Amount of share capital (unless otherwise advised, all company will be incorporated with a standard share capital of USD1,000,000) […]

1. Samoa Company Registration Fee Our services for handling the registration of a new Samoa international company together with the first-year maintenance fee are USD1,050 excluding delivery fee. In particular, the fee covers: (1) first year license fee (2) first year registered agent fee and year registered office fee (3) first year nominee company secretary (4) one complete company kit (5) our incorporation service charges An extra USD150 will be charged for addition of Chinese company name. 2. Documents to be provided by client for incorporation (1) Photocopy of passport of each of the shareholder and director (2) Residential address with proof, such as utility bills, telephone bills (3) Proposed name of the company (4) A brief description of the principal business activities of the proposed Samoa company (5) Amount of share capital (unless otherwise advised, all company will be incorporated with a standard share capital of USD1,000,000) and percentage […]