Viewpoints
2019-10-21
Meetings and Minutes of Proceedings Directors’ and shareholders’ minutes of meetings are to be signed by the chairman of the meeting or by one of the directors who is a party to the proceedings (s.103(1)(b)). Where requested, Kaizen Certified Public Accountants Limited (“Kaizen”) will assist in the preparation of resolutions. Notice and quorum provisions for meetings are set out in the articles of association. Shareholders’ resolutions may be passed without a meeting and without any previous notice of the resolution by means of a resolution in writing signed by no less than three fourths of members entitled to vote (S.99(2)). Directors’ resolutions may also be passed without a meeting and without any previous notice of the resolution by means of a resolution in writing signed by a quorum of directors. The minutes of the company may be kept at the registered office of the company in Samoa or […]
2019-10-21
Requirement for set up a Germany Company As a form of capital company, the limited liability company GMBH is equivalent to a legal person with 25000EUR registration capital at least. The Advantage of Germany Company 1. It is good to service local clients, as some local clients or suppliers only would like to contact the companies registered in Germany, not overseas; 2. Promoting the products and the company value, and the sale price could be a bit low to the market price in Germany; 3. The registered capital is only 25,000 for company registration, which can be used for expenses; 4. It is entitled to apply for permanent residence in Germany once the Germany company went smoothly around 4-5 years; 5. Improving the brand image and international image of the company; 6. Using commercial secretary could save a great of cost. INCORPORATION COST 1. Our quotation for registering a Germany […]
2019-10-21
Requirement for Set up a Germany Company As a form of capital company, The limited liability company GmbH is equivalent to a legal person with 25,000EUR registration capital at least. The Advantage of Germany Company 1. It is good to service local clients, as some local clients or suppliers only would like to contact the companies registered in German, not overseas; 2. Promoting the products and the company value, and the sale price could be a bit low to the market price in Germany; 3. The registered capital is only 25,000 for company registration, which can be used for expenses; 4. It is entitled to apply for permanent residence in Germany once the German company went smoothly around 4-5 years; 5. Improving the brand image and international image of the company; 6. Using commercial secretary could save a great of cost. INCORPORATION COST Our quotation for registering a Germany […]
2019-10-21
What’s is First Minutes (First Resolution) of a Company? This document, or a set of documents, represent a number of important official decisions carried out by the Subscriber or by the Registered Agent after the offshore company is incorporated. These resolutions shape the internal structure of the company. The First Resolutions would contain information about the name, Registered Address and registration number of the new company and they would establish who is the Registered Agent of the company, who are appointed director(s) of the company, how many shares are being issued to the shareholders, and who are those shareholders. Sometimes, as the case may be, the First Resolutions would also deal with appointing a Secretary to the offshore company, appointing accountant, auditor, attorney or any other consultant or advisor to the company, resolving to open a bank account with a particular bank and appointing the account signatories to such account, […]
2019-10-21
General Information about Marshall Islands Location Located nearly midway between Indonesia and Hawaii, the Marshall Islands are the eastern-most island group in Micronesia. The Marshall Islands cover approximately 2 million sq. km in the Central Pacific Ocean, with two 1,280 km long parallel chains of atolls and volcanic islands separated by 179 km of sea. The Islands feature sandy beaches ringed by coconut laden palm trees, and surrounded by crystal-clear lagoons teeming with tropical fish, giant turtles and colourful coral. Population The islands have a population of just over 43,000 most of whom live in the capital Majuro. Political Structure The islands were settled some 4,000 years ago. In the 16th century, the Spanish were the first in a long series of visitors. Later, Russian navigators visited the Islands more extensively. It was not until the 18th century that British naval officer John Marshall rediscovered and gave his name to […]
2019-10-21
The British Virgin Islands (BVI) recently enacted a far-reaching and enabling trust law known as the Virgin Islands Special Trust Act 2003 (VISTA). This new law makes the BVI jurisdiction very attractive for certain types of trusts as it provides settlors with a level of freedom and protection that were either previously absent from or insufficient in alternative trust laws. Commonly referred to as a VISTA Trust, these new Trusts contain a variety of significant features, some of which are highlighted below. Removal of obligation to maximize share value The new Act (unless otherwise stated in the Trust Instrument) stipulates that Trustees primary duty is to retain the designated shares of the trust fund and this takes precedence over any duty to preserve or enhance their value. In other words, Trustees are not be liable for the consequences of holding the shares but may be held liable for disposing […]
2019-10-21
BUSINESS TRANSACTIONS ICs may engage in any lawful business and may carry on transactions in whatever currencies they choose. TAXATION Full exemption from taxation for any business activity or transaction carried out outside Samoa. AUTHORISED CAPITAL / SHARES Nominative or bearer shares at owner’s option. Mortgages and charges on shares are optional and can be registered if desired. No paid-in capital is required. No minimum or maximum capital requirements. DIRECTORS, OFFICERS AND SHAREHOLDERS Shareholders, directors and/or officers can be either corporate entities or natural persons. There is no requirement to register initial or ongoing changes in directors and/or officers. The directors may grant special or general powers of attorney. Register of Director(s) is optional and may be kept anywhere in the world. Companies are allowed to have a sole director. Neither the directors nor the officers need be shareholders. Only one subscriber required, thereafter at least one […]
2019-10-21
GENERAL Type of Company GBCII Political Stability Good Common or Civil Law Hybrid Disclosure of Beneficial Owner No Migration of Domicile Permitted Yes Tax on Offshore Profits Nil Language of Name Latin Alphabet CORPORATE REQUIREMENTS Minimum Number of Shareholders One Minimum Number of Directors One Bearer Shares Allowed Yes Corporate Directors Permitted Yes Company Secretary Required No Standard Authorised Share Capital Unlimited LOCAL REQUIREMENTS Registered Office/Agent Yes Company Secretary No Local Directors No Local Meetings No Government Register of Directors No Government Register of Shareholders No ANNUAL REQUIREMENTS Annual Return No Submit Accounts Yes RECURRING GOVERNMENT COSTS Minimum Annual Tax/License Fee US$135 to FSC US$65 to ROC Annual Return Filing Fee N/A General Information Mauritius is situated in the Indian Ocean approximately 800 km off the East Coast of Madagascar. Population The population of the Island is approximately 1,200,000 made […]
2019-10-21
The term ‘offshore’ is not used in Irish legislation or in describing company forms. In Ireland there are no specific forms of company or other entities designed for offshore operation. Legal form Private limited companies are the most common form of business entity used in Ireland. The essential features of a private limited company are that the liability of members is limited to the amount of share capital subscribed to. Name of the company Irish companies must use the suffix Limited or Ltd. to denote limited liability and can use any name unless it includes words such as Empire, Crown, Imperial, Windsor, Royal, Assurance, Bank, Building Society or any other words deemed sensitive or offensive. Special consent is required for names such as European or International. Memorandum and Articles of Association A company is formed by submitting its Memorandum and Articles of Association to the Registrar of Companies along with […]
2019-10-21
General Information The Cayman Islands are a British colony situated in the Caribbean Sea approximately 500 miles South of Miami, Florida, with a population of approximately 50,000 people of mixed origin. The Islands enjoy sophisticated legal, accounting and banking services and derive political stability by virtue of their connection with Britain. The legal system is British, and the government is headed by a Governor appointed by the Crown who presides over a Government made up of twelve locally elected members and three senior civil servants who hold ex-officio office. There is no exchange control and no restrictions on the movement of funds to or from the Islands. The Confidential Relationships (Preservations) Law 1976 makes it a criminal offence for any person to divulge confidential information to a third party and the Cayman Islands have no double taxation treaties with any other part of the world but have undertaken to assist […]