Viewpoints
2019-10-17
The management, directorship and practical operation of your Belize IBC will usually be one of the two possible options: Option 1: Company directed by the beneficial owner. You, the beneficial owner, can be appointed as the Director of Your International Business Company. Just as well, any other person, designated by the beneficial owner, can be appointed as the Director of the IBC. This can be a relative, a friend or a business partner of the owner – anyone whom the owner trusts, provided he/she agrees to such appointment. Minimum one director needs to be appointed. Of course, and IBC can also have more than one director. For all intents and purposes, whenever the beneficial owner or his own appointees act as director(s) of the IBC, this is called “management by the owners”. In this option, the name(s) of the beneficial owner or his/her appointees will directly show up in the […]
2019-10-17
1. THE BELIZE IBC AND MAINTENANCE OF CORPORATE RECORDS 1.1 Memorandum and Articles of Association (‘M&A’) Kaizen or its associated agent will issue and provide an original and one copy of the M&A, both have been stamped and sealed by the IBC Registry of Belize. The Registered Agent and the Registrar of Companies in Belize shall retain a copy. Any amendments to the M&A may be passed by resolution of the director(s) or shareholder(s) and must be filed with the Registrar of Companies in Belize. Amendments are NOT effective until filed. Kaizen will be pleased to assist with providing standard form amendments, with filing amendments and with re-printing the M&A on request. 1.2 Minutes and Financial Records An IBC is required to keep minutes of all meetings of directors, members, committees of directors, committees of officers and committees of members. Copies of all written resolutions consented to by the foregoing […]
2019-10-17
Specimen of Belize Company Incorporation Documents Certificate of Incorporation of Belize Company (IBC) – English Version Certificate of Incorporation of Belize Company (IBC) – Chinese Version Memorandum and Articles of Association of Belize Company (IBC) – English Version Memorandum and Articles of Association of Belize Company (IBC) – Chinese Version Register of Members (Shareholders) of Belize Company Register of Directors of Belize Company Share Certificate of Belize Company Certificate of Gooding of Belize Company (optional) Certificate of Incumbency of Belize Company (optional) Belize Readymade Company Lists Belize Readymade Company (Shelf Company) List (PDF) Belize Readymade Company (Shelf Company) List (Word) Belize Company Laws and Related Regulations Belize International Business Companies Act, Revised Edition 2000 This is the main and the most important law, which currently regulates the registration, status and operation of the International Business Companies in Belize. This is a revised edition of the law, prepared […]
2019-10-17
Belize Company Registration and Bank Account Packages Belize Company Registration (for company with share capital of no more than USD50, 000 and without Chinese name): USD725 With a standard share capital of no more than USD50, 000, the registration fee together with the first-year maintenance fee is USD725. In particular, the fee covers: First year license fee First year registered agent and registered office One complete company kit Our incorporation service charge Note: An extra fee of USD150 is applicable if Chinese name is also registered. The fees stated above does not include delivery fee, if any. Certificate of Incumbency (or CPA certification) as required by the bank: USD150 One original Certificate of Incumbency issued by the registered agent immediately after the registration is completed. Corporate Bank Account with Hong Kong Bank in Hong Kong: USD575 After the company is duly registered, we assist you to set up […]
2019-10-17
Belize Company Registration and Bank Account Packages Belize Company Registration (for company with share capital of no more than USD50, 000 and without Chinese name): USD725 With a standard share capital of no more than USD50, 000, the registration fee together with the first-year maintenance fee is USD725. In particular, the fee covers: first year license fee First year registered agent and registered office One complete company kit Our incorporation service charge Note: An extra fee of USD150 is applicable if Chinese name is also registered. The fees stated above does not include delivery fee, if any. Certificate of Incumbency (or CPA certification) as required by the bank: USD150 One original Certificate of Incumbency issued by the registered agent immediately after the registration is completed. Corporate Bank Account with Hong Kong Bank in Hong Kong: USD425 After the company is duly registered, we will arrange with you to […]
2019-10-17
GENERAL INFORMATION Anguilla, the most northerly of the Caribbean Leeward Islands, has a landmass of 90 sq km and was originally inhabited by, and was an important home island to, the Arawak Indians, an indigenous Caribbean race. Numerous significant artefacts have recently been unearthed which establish the Fountain (a freshwater underground spring) and other Island sites as important archaeological finds which now draw substantial international interest. The British established control of Anguilla in the late 1600’s, prevailing in numerous skirmishes with other European powers throughout the colonial period, so that today Anguilla is a British Dependent Territory. POPULATION Anguilla supports a population estimated at 9,000. The Island is generally flat with occasional rainfall but has the finest powder white sand beaches in the Caribbean. The official language is English; the primary industries are tourism (featuring numerous world class resorts and restaurants, catering to high net worth individuals from the […]
2019-10-17
With two offshore company types available in Seychelles, this is a very important question. Here are some general considerations. By no means they represent the final and absolute recommendation but may prove useful as a general guideline. Special License Company (CSL) The CSL would be the preferred choice for clients planning business transactions with counterparties who are located in high-tax countries with an intrusive regulatory environment. In such countries, fiscal countermeasures are possible against the traditional zero-tax companies (IBCs), but are less likely against low-tax companies (CSLs). On the same note, if the business circumstances require proving that the company is actually a taxpayer in its country of registration, only a Special License Company would satisfy this condition. The CSL is also the right vehicle if clients expect to utilize the benefits of the double-tax avoidance treaties, concluded by Seychelles. In perspective, a CSL is the appropriate choice […]
2019-10-17
A company is considered as resident in Singapore if the control and management of the business is exercised in Singapore. Although the term “control and management” is not defined explicitly by authorities, a generally accepted consensus is that it refers to the policy level decision making at the level of Board of Directors and not the day-to-day decision making and operations. In general, a company is considered non-resident in Singapore if the directors manage and control the business and hold board meetings from outside Singapore. This is true even if, for example, the lower level operations are taking place in Singapore. A company’s residence may change from one year of assessment to the next depending on the circumstances. A Singapore branch of a foreign company is generally not treated as a Singapore tax resident since the control and management is vested with an overseas parent company. The basis of taxation […]
2019-10-17
Stamp duty is computed on the consideration or total value of the shares transferred, whichever is higher. Newly incorporated companies are those companies incorporated less than 18 months from the transfer date. The following points must be noted: If the newly incorporated company does not own any properties, the allotment price can be used. If the newly incorporated company owns properties, management account has to be prepared to determine the NAV of the shares. This must be certified by the director or secretary of the company and accompanied by the last audited accounts. Stamp Duty Computation An example on the computation of stamp duty on the transfer of ordinary shares in newly incorporated companies is as follows: What is the stamp duty payable Number of shares to be transferred 50,000 Value per share $1.00 Consideration $45,000 Transfer of ordinary shares in newly incorporated companies (1) Determine whether Total Value […]
2019-10-17
Overview of Singapore Sole Proprietorship A Sole Proprietorship may be described as a business that is carried on by an individual on his or her own without the use of a separate and distinct business form. The sole proprietorship is the simplest form of business organization. The law does not regard the sole proprietorship business as a different entity from its proprietor (or owner). As such, all rights that the business has are rights that belong to the proprietor. Similarly, all liabilities or debts that are incurred by the business are in law the liabilities or debts of the proprietor. The assets and profits that the business generates are owned by the proprietor who is personally liable to pay whatever tax payable in respect of these assets and profits. Should the proprietor die, the business will cease to exist. Registration and Compliance When a person wishes to carry on […]