Talean Services Ltd has a wide network of legal contacts and associates in most countries of the world, thus enabling us to offer a wide range of quality services. Our team has the legal expertise to advise our local and international clients on all matters relating to the incorporation and administration of companies all over the world specifying the advantages and the requirements of each country.
Its laws are based on British Common Law and International Business Companies are governed by the International Business Companies Act of 1990. Incorporation takes between 1-2 days. Corporate structure of the Belize IBC:
Confidentiality: the names of the Director(s) and Shareholder(s) of the Company are not filed with the Registrar of International Business Companies in Belize, therefore no information on the beneficiaries is on the public record. Nominee services are permitted if required. Share capital:
Financial Statements: Whilst there is no requirement to file audited financial statements or annual returns with local authorities, a Belize IBC is required to keep financial records, which should reflect the financial position of the company.
THE BELIZE IBC INCORPORATION PACKAGE INCLUDES:
The Business Companies Act based on the English law and is used, inter alia, to form various types of companies used on international level for any type of business outside of the BVI. Companies formed under the Business Companies Act can be private companies limited by shares, by guarantee, or hybrid. A Company limited by shares is the most popular type of company formed today with the liability of its members limited to the amount paid on shares they hold.
MAJOR ADVANTAGES OF FORMATION OF BVI COMPANIES:
There are no nationality requirements for directors or shareholders. Board meetings of shareholders/directors/officers may be held anywhere in the world and may be conducted by telephone or through electronic means. Circular resolutions are acceptable. BVI annual license fee is lower than in many other jurisdictions. The incorporation process is completed in a period of five days. We also have shelf companies readily available for immediate use by the client.
CORPORATE STRUCTURE OF BVI IBC:
Share Capital: Standard share capital is US$50,000 divided into 50,000 shares of US$1 each Shares may be issued with or without par value and at least one share must be issued Financial Statements and Company Records: there is no requirement to file audited accounts or annual returns with the authorities, however it is required to keep financial records, which should reflect its financial position.
The BVI IBC incorporation package includes:
Our firm registers any type of companies in Cyprus including public companies and partnerships. Cyprus is a favourite destination for the formation of international companies because of the very low taxation which is only 12.50% and also Cyprus has entered in 33 double tax treaties with other countries to avoid double taxation. The general effect of these treaties is that Cyprus registered companies that have tax exemptions in Cyprus will have the same exemptions as the treaties countries. There is no set time in Cyprus within which the formation of Cyprus company procedure is completed. The actual time taken depends on the existing workload of the registration department of the Registrar of Companies of Cyprus. However, registering a company from scratch usually takes approximately 10 to 18 working days. The first step in any registration of a Cyprus Company is to give the company a name. A name or names must therefore be submitted to the Cyprus Registrar of Companies for approval. This can take 3 working days. Once approval has been received, it is possible to proceed to the next step which is the actual Cyprus company formation. The process of registration of a Cyprus company takes a further 10 working days.
The number of shareholders in a Company may be from 1 to 50. A shareholder can be a physical or legal person of any nationality. Details of shareholders such as their name, address and nationality, are part of the public record. Additionaly, Register of beneficial owners (UBOs) has been implemented as of 2021.
A minimum authorized share capital of Cyprus Company is 1,000 Euros. The minimum issued capital is one share of 1.00 Euro.
DIRECTORS AND SECRETARY
The minimum number of directors is one. A director can be a physical or legal person of any nationality. The Company must have a Cyprus resident secretary (an individual or a legal person). The same person cannot act as both the director and secretary, if the Company has only one director.
Every Company is required to have a registered address in Cyprus, which should be notified at the Registrar of Companies.
OFFICES IN CYPRUS
A Cyprus company may operate from abroad or may have a fully-fledged office in Cyprus. There are certain regulations and procedures that must be fulfilled in case a businessperson wishes to establish a fully-fledged office in Cyprus.
FINANCIAL STATEMENTS AND AUDIT
A Cyprus Company must submit audited financial statements to local tax authorities and the Registrar of Companies. The Company Law requires that a Cyprus Company maintain proper accounting records in accordance with the International Accounting Standards. The first reporting period can be up to 18 months from the date of incorporation and thereafter financial statements must be prepared annually. A Cyprus auditor is required to be appointed. Cyprus Company formation package includes:
Local Secretary (first year)
Legal forms of companies are regulated in particular by the Czech Commercial Code. Under Czech law it is possible to set up six different forms of business companies, i.e. a general partnership, limited partnership, limited liability company, joint-stock company, European Company, and European Economic Interest Grouping. Establishment of the companies in Czech Republic is governed by the Civil Code (Act No. 89/2012) and the Act on Business Corporations (Act No. 90/2012). A limited liability company (s.r.o.) is the most popular legal form of corporation in the Czech Republic.
Incorporation of a Limited Liability Company (s.r.o)
The name of the company must be in Latin characters and must end with s.r.o to denote limited liability.
ARTICLES OF ASSOCIATION
It is necessary to adopt Articles of Association when founding a s.r.o. The company becomes a legal entity when it is formally entered in the Commercial Register. According to the Czech Commercial Code, the Articles of Association must contain the corporate name, the registered address of the company, the activities in which the Company will engage in, the amount of share capital and the share interest of each shareholder
The number of shareholders in a Company may be from 1 to 50. A shareholder can be a physical or legal person of any nationality. Details of shareholders such as their name, address and nationality, are part of the public record, however they may avail themselves of a nominee service by appointing a nominee shareholder, which we can provide by virtue of an agreement or a Deed of Trust for a reasonable fee.
The registered capital of a company is composed of the contributions made by the shareholders. As of 1.1.2014, the minimum contribution of each shareholder to the registered capital is CZK 1, however it is recommended to set-up an s.r.o with a minimum of CZK 1,000. A limited liability company does not issue shares. The ownership interest represents the shareholder’s participation in the company and the rights and duties derived from such participation. The size of the ownership interest is basically determined by the ratio of a particular shareholder’s investment contribution to the company’s registered capital.
REGISTERED OFFICE AND COMPANY
Czech companies must have their registered office in Czech Republic. There is no requirement for a company secretary.
Company meetings need not be held in Czech Republic.
The incorporation of a new company takes from 1 to 2 weeks
The governing legislation for Companies in Gibraltar is the Companies Ordinance. A duly incorporated limited liability company constitutes a separate legal entity and may sue and can be sued in its own name. Limited Liability Company may take the form of a private company either limited by shares or by personal guarantee of its members or public company. By far the most usual form that businessmen and/or corporations prefer is the private company limited by shares.
Gibraltar 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, Chartered or Municipal. Special consent is required for names such as European, Gibraltar or International.
MEMORANDUM AND ARTICLES OF ASSOCIATION
To register a limited liability company, Memorandum and Articles of Association must be prepared by a licensed law practitioner and filed at the Office of the Registrar of Companies. Memorandum specifies the activities in which the company may engage and Articles of Association specifies the rules governing the internal management of the company.
The number of shareholders in a private Limited Liability Company may be from 1 to 50. In the case where there is a sole shareholder, who may be corporate or individual, the Memorandum and Articles of Association should include a special provision stating that there is only one shareholder in the company. Details of shareholders appear on the public file but anonymity can be preserved by the use of nominee shareholders. Bearer shares cannot be issued.
Taxation: Non-resident companies are not liable for tax on income derived outside Gibraltar and an Annual Tax of GBP 200 is payable by all no resident Companies.
Gibraltar Limited Liability Company may be registered with authorized share capital of 2,000 pounds, which is the maximum share capital that attracts the minimum capital duty.
The minimum number of directors is one, who may be corporate or individual. The full name, nationality, residential address and occupation together with copy of the passport are required. Details of the directors appear on the public file but anonymity can be preserved by the use of nominee directors.
REGISTERED OFFICE AND COMPANY SECRETARY
Every company, registered in Gibraltar is required to have a registered office and address in Gibraltar, which should be notified at the Registrar`s Office. It is also practical that a Gibraltar resident company secretary is appointed.
Company meetings need not be held in Gibraltar.
4-9 working days.