free big offshore guide june 2013 version

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BRITISH VIRGIN ISLANDS

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BELIZE

Belize (formerly British Honduras) is a scenically beautiful, independent country located on the Caribbean seaboard of Central America. Belize covers an area of approximately 23,000 sq km, and is bounded by Mexico to the north and Guatemala to the west and south. The administrative capital of Belize is Belmopan, but the major commercial centre is Belize City, which is located on the eastern coast close to the major international airport.

POPULATIONThe population of Belize is about 320,000 of which some 70,000 live in Belize City. The population of Belize is ethnically diverse and includes descendants of the original Mayan culture and people of Chinese, Caribbean, Caucasian and East Indian descent.

POLITICAL STRUCTUREBelize has a long history of peace, stability and democracy. It became a British Crown Colony in 1862 and achieved complete self-rule in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement. Belize is a parliamentary democracy and constitutional monarchy which recognises HM Queen Elizabeth II as head of state represented by a Governor General who must be a Belizean national. The National Assembly is composed of the Senate and the House of Representatives. The Senate has 12 members and the House of Representatives comprises of 29 members, directly elected at intervals of no longer than five years. The prime minister and cabinet have executive power. There are two main political parties; both parties are committed to the economic development of the country and the encouragement of overseas investment.

INFRASTRUCTURE AND ECONOMYBelize´s unspoiled environment with cays and barrier reef make it a popular destination for eco-tourists, whilst its clear unpolluted waters are excellent for swimming, diving, fishing and other aqua sports. The country also offers a unique mix of unspoiled woodlands, caves, mountains, waterfalls and jungle, in addition to a wealth of Mayan archaeological sites. There are also marine resort areas, forest reserves, wildlife sanctuaries and the world´s only jaguar reserve!Major exports are citrus products, sugar, bananas, fishery prod-ucts, garments and timber and food products. The offshore finance industry is generating an increasing proportion of national income.

LANGUAGEThe official and spoken language is English but Spanish is widely spoken.

CURRENCYThe Belize Dollar (BZ$).

EXCHANGE CONTROLOffshore activities are exempted from exchange control.

TYPE OF LAWCommon Law. Based on English Common Law.

PRINCIPAL CORPORATE LEGISLATIONInternational Business Companies Act, 1990, amended 2000.

Location: Central AmericaTime: GMT - 5 HoursCapital: Belmopen CityOfficial Language: English, Creole, SpanishCurrency: BZDIDC: +501Legal System: English Common LawPolitical System: DemocraticShelf Companies: YesIncorporation Time: 24 HoursDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: NoNominee Directors: YesBearer Shares: Yes but immobilisedMin. Shares: 1Public Share Registry: NoMeetings: Subject to Memorandum & ArticlesRegistered Office: YesAnnual Accounts Return: NoAudit Requirements: NoBank Accounts: Anywhere in the world

Low start-up and annual maintenance • costsA minimum of one Director and one • Shareholder. Any nationality and need not be resident in BelizeDirectors can be individual or corporate • bodies and need not be local residents No public disclosure of Shareholders or • DirectorsTotal exemption from all forms of local • tax including stamp dutyNo requirement to audit or file accounts • and annual returnsIncorporation procedures are simple and • normally completed in one dayIMPORTANT - A Belize Company is due • for renewal on January 1 each year

Restrictions on TradingCannot trade within Belize or own real estate there. Cannot undertake the business of banking, insurance, assurance or reinsurance, Company management or registered office facilities for Belizean incorporated Companies.

Powers of CompanyA Company incorporated in Belize has the same powers as a natural person.

Language of Legislation and Corporate DocumentsEnglish.

Shelf Companies AvailableYes.

Time to IncorporateOne day.

Name RestrictionsAny name that has already been incorporated in Belize, or is so similar as to cause confusion. Any name which in the opinion of the Registrar is considered undesirable, obscene or offensive. Names such as Royal or imperial and any name that suggests the patronage of Belize Government.

Language of NameA Belize IBC can be incorporated using any language. Chinese language incorporations with Chinese documentation are popular.

Registered Office RequiredYes, must be maintained in Belize at the address of a licensed management company.

Names Requiring Consent or LicenseBank, building society, savings, loans, insurance, ssurance, reinsurance, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents or any name in English or a foreign language that may suggest association with the banking or insurance industries.

Suffixes to Denote Limited LiabilityLimited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima, Aktiengesellschaft or the relevant abbreviations.

Disclosure of Beneficial Ownership to Government AuthoritiesNo.

Confidential Bankingeazyoffshore can incorporate your Belize company and open a highly confidential bank account at the same time. To make the most of your Belize IBC, a confidential bank account is a must.

Belize Offshore AnonymityBelize has traditionally offered excellent privacy. Belize offshore companies are not required to disclose the names of Beneficial Owners, Shareholders and Directors to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore foundationin the West Indies acts as Nominee Director and Shareholder ensuring the ownership of your Belize company can never be discovered.

Authorised and Issued Share CapitalThe usual authorised share capital is US$50,000 divided into shares with or without par value. The share capital may be expressed in any currency. The minimum issued capital may be one share of no par value or one share of par value.

Classes of Shares PermittedRegistered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

TaxationA Belize International Business Company does not pay any tax on its worldwide profits to Belize authorities.

Double Taxation AgreementsBelize is not a party to any double tax agreements.

Financial Statements RequiredWhilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records that reflect the financial position of a company.

DirectorsThe minimum number of Directors is one. Directors may be natural persons or corporate entities, they may be of any nationality and need not be Belize resident.

Company SecretaryA Company Secretary is not a requirement under the Act, but a Secretary is normally appointed to facilitate signing obligations.

ShareholdersThe minimum number of Shareholders is one.

BELIZE COMPLIANCE

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The British Virgin Islands is an archipelago of over 40 islands, 16 of which are inhabited. Discovered by Columbus who is said to have been so impressed by their large number that he named them “Las Virgenes” in honour of St. Ursula and her 11,000 attendant virgins they lie to the north west of the United States Virgin Islands. The neighbour with the largest land area is Puerto Rico, 96 km to the west. Except for Anegada, which is a flat reef surrounded island of coral limestone, the Islands are hilly and enjoy a subtropical climate. Their greatest tourist attraction is their superb beaches.

POPULATIONThe population is about 23,000. The largest and most heavily populated Island is Tortola which has 18,000 inhabitants. 90% of the inhabitants are of African descent, the balance being made up of Indian, European or mixed race. The capital, Road Town, is on the southern shore near Sir Francis Drake Channel. Tortola is connected by a road bridge to Beef Island, and the local airport.

POLITICAL STRUCTUREIn 1672, Britain claimed Tortola. Simultaneously, Denmark asserted her sovereignty over St. Thomas and St. John; then in 1773 Denmark purchased St. Croix from France. The Danish Islands were sold to the United States in 1917 for US$25 million. Relations between the United States and British Virgin Islands are very good. The British Virgin Islands are a UK overseas territory with self-government in most internal matters. Under the 1977 constitution, HM Queen Elizabeth II is represented by a Governor responsible for public services, external affairs, defence and internal security, with reserved legislative powers as necessary for the exercise of special responsibilities. On all other matters, the executive council has authority. The executive council consists of the Governor, the Chief Minister, the Attorney-General and three other ministers appointed by the governor from the legislative council on the advice of the Chief Minister. The legislative council has a four year term and consists of a Speaker, 13 directly elected members and the Attorney-General.

INFRASTRUCTURE AND ECONOMYThere is an excellent daily air service between the Islands and the USA. Cruise ships call in weekly to the Islands and there are freight carriers. The economy, one of the most prosperous in the Caribbean area, is highly dependent on the tourist industry, which generates about 21% of the national income. In 1984, the Government offered offshore registration to companies wishing to incorporate in the Islands. By 2006 the number incorporated had exceed 750,000. Incorporation in the first three quarters of 2006 exceeded 51,000 making the British Virgin Islands the world’s leading offshore jurisdiction. The BVI is the only Caribbean jurisdiction to boast the presence of all five of the largest offshore law firms in the region and the legal profession presence in the territory continues to expand. The finance sector and ship registration now generate approximately 50% of government revenue.

LANGUAGEThe official and spoken language is English.

CURRENCYUS Dollar.

EXCHANGE CONTROLNone.

TYPE OF LAWCommon Law, based on English Common Law with local modificationsand local statutes.

PRINCIPAL CORPORATE LEGISLATIONThe Companies Act (Cap. 285) and The BVI Business Companies Act, 2004. (“The BVI BC Act”). All Companies previously incorporated under the International Business Companies Act, 1984, automatically.

A BVI Business Company requires no • disclosure of Directors or Shareholders to the government or on any public recordThe British Virgin Islands do not require • a resident Secretary, local Directors or local ShareholdersWith over 500,000 companies • registered, the British Virgin Islands is the world´s leading offshore jurisdictionBVI offshore companies are exempt • from all taxesA British Virgin Islands BC is allowed to • have bank accounts in any region of the world A BVI Company takes up to two • business days to incorporate (usually 24 hours)There is no limit for the maximum capital • of the CompanyIMPORTANT - A BVI Company is due • for renewal on its anniversary of incorporation

Location: Eastern CaribbeanTime: GMT – 4 HoursCapital: Road TownOfficial Language: EnglishCurrency: USDIDC: +1 284Legal System: Based on English Common Law. UK Privy Council is final court of appealPolitical System: DemocraticShelf Companies: YesIncorporation Time: 24 HoursDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: NoNominee Directors: YesBearer Shares: YesMin. Shares: 1Public Share Registry: NoMeetings: As and when Directors/Share-holders DetermineRegistered Office: YesAnnual Accounts Return: NoAudit Requirements: NoBank Accounts: Anywhere in the world

Restrictions on TradingCannot trade within the British Virgin Islands or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot offer its shares for sale to the public.

Powers of CompanyA Company incorporated in the British Virgin Islands has the same powers as a natural person.



Time to IncorporateNormally 24 hours.

Language of NameLatin Alphabet. Any name in a language other than English must be accompanied by a translation to ensure that the name is not restricted.

Registered Office RequiredYes, must be maintained in the British Virgin Islands, and must be maintained at the office of a licensed management company.

Names Requiring Consent or LicenseBank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents.

Suffixes to Denote Limited LiabilityLimited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima or their relevant abbreviations.


Confidential Bankingeazyoffshore can incorporate your BVI company and open a highly confidential bank account at the same time. To make the most of your BVI BC, a confidential bank account is a must.

British Virgin Islands Offshore AnonymityBVI has traditionally offered excellent privacy. BVI offshore companies are not required to disclose the names of Beneficial Owners, Shareholders and Directors to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore founda-tion in the West Indies acts as Nominee Director and Shareholder ensuring the ownership of your BVI company can never be discovered.

Share CapitalThe normal share capital is US$50,000 with all of the shares having a par value, this being the maximum share capital for the minimum duty payable upon incorporation and annually thereafter. The share capital may be expressed in any currency. The minimum issued capital is one share of no par value or one share of par value.


TaxationA Business Company does not pay any tax on its worldwide profits to the British Virgin Islands authorities.

Double Taxation AgreementsThe British Virgin Islands has treaties with Japan and Switzerland, though they have limited benefit and are not applicable to offshore business.

Financial Statements RequiredWhilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records,which reflect the financial position of a company.

DirectorsThe minimum number of Directors is one. Directors may be natural persons or corporate bodies. They can be of any nationality and need not be resident. A copy of the Register of Directors must be held at the Registered Office and any changes to the Register must be sent to the Registered Office within 15 days of the change. Failure to do so may result in a fine of US$10,000.

Company SecretaryA Company Secretary is not a requirement under the Act, but a Secretary is normally appointed to facilitate signing obligations.An imprint of the Company Seal must be held at the Registered Office. Failure to do so may result in a fine of US$10,000. If the Minute Books containing records of meetings of members and Directors are not held at the Registered Office the address at which these books are held needs to be provided.

ShareholdersThe minimum number of Shareholders is one. A copy of the Register of Members must be held at the Registered Office and any changes to the Register must be sent to the Registered Office within 15 days of the change. Failure to do so may result in a fine of US$10,000.

BVI COMPLIANCE

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The Cayman Islands consists of a group of three islands in the Caribbean: Little Cayman, Cayman Brac and Grand Cayman. The main Island, Grand Cayman, is situated about 500 miles southeast of Miami.

POPULATION

The population is about 50,000.

POLITICAL STRUCTURE

The Cayman Islands are a British colony and therefore the United Kingdom Parliament at Westminster retains the right to legislate. A Governor who is appoint-ed by the Queen Elizabeth II heads the Cayman Islands Government. There is a Legislative Assembly consisting of 18 seats: 3 appointed members from the Executive Council (Financial Secretary, the Attorney-General and Administrative Secretary) and 15 members elected by the popular vote. An Executive Council, consisting of three official members appointed by the Governor and four members elected by the Legislative Assembly, formulates policy and advises the Governor. Appointments are to a four-year term.

INFRASTRUCTURE AND ECONOMY

The economy of the Islands is strong, enjoying full employment with most of the revenue being derived from the financial services sector and tourism. Miami is one hour away by air and the Island has direct air links with New York, Atlanta, Tampa, Houston and Jamaica. The Islands are a popular cruise-ship stop.

LANGUAGE

English.

CURRENCY

Caymanian Dollar.

EXCHANGE CONTROL

None.

TYPE OF LAW

Common Law based on English Common Law.

PRINCIPAL CORPORATE LEGISLATION

The Company Law of the Cayman Islands is based on the English Companies Act of 1948 and can be found in the Cayman Islands: Companies Laws (2007 Revision) Companies (Amendment) (No 2) Law 2009 Companies (Amendment) Law 2010.

A minimum of one Shareholder and one • Director is requiredShareholder and Director registers are • not available for public inspectionTotal exemption from all forms of local • taxation including stamp dutyCompanies can be formed and registered • within one or two working daysForeign Companies from approved • jurisdictions may apply to be registered by way of continuation as a Cayman Exempted CompanyFirst class accounting, legal and banking • servicesPolitical stability• IMPORTANT - A Cayman Islands • Company is due for renewal on December 31 each year

Location: Western CaribbeanTime: GMT - 5 HoursCapital: George TownOfficial Language: EnglishCurrency: KYDIDC: +1 345Legal System: Based on English Common LawPolitical System: DemocraticShelf Companies: YesIncorporation Time: 2 DaysDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: NoNominee Directors: YesBearer Shares: YesMin. Shares: 1Public Share Registry: NoMeetings: Yes by ProxyRegistered Office: YesAnnual Accounts Return: YesAudit Requirements: NoBank Accounts: Anywhere in the world

Restrictions on TradingCannot trade within the Cayman Islands, own real estate in the Cayman Islands. Cannot undertake the business of banking, insurance business or mutual fund business unless licensed. Cannot solicit funds from the public.

Powers of CompanyA Cayman Islands Exempt company has all the powers of a natural person.

Language of Legislation and Corporate DocumentsEnglish. An Arabic language facility was enabled in 2007.

Registered Office RequiredYes, must be maintained in the Cayman Islands.


Time to IncorporateTwo days.

Name RestrictionsBank, insurance, assurance, reinsurance, trust, municipal, charter, co-operative, their foreign language equivalents or any name that, in the opinion of the Registrar, would suggest a connection with a Royal family or Government authority.

Language of NameNames can be expressed in any language using the Latin alphabet, Chinese or Arabic, if the Registrar of Companies receives a translation.

The corporate documents will be in English.Names Requiring Consent or License Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, asset manage-ment, trust, trustees or their foreign language equivalent.

Suffixes to Denote Limited LiabilityThere is no requirement to utilise a suffix to Denote limited liability, although normally companies are incorporated to include the suffixes Limited, Incorporated, Corporation or their abbreviations.


Confidential Bankingeazyoffshore can incorporate your Cayman Islands company and open a highly confidential bank account at the same time. To make the most of your Cayman IBC, a confidential bank account is a must.

Cayman Islands Offshore Anonymity The Cayman Islands has traditionally offered excellent privacy. Cayman offshore companies are not required to disclose the names of Beneficial Owners, Shareholders and Directors to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore foundation in the West Indies acts as Nominee Director and Shareholder ensuring the ownership of your Cayman company can never be discovered.

Authorised and Issued Share CapitalThe minimum is US$1, but it is normal to incorporate with an authorised share capital of US$50,000; divided into 50,000 common voting shares of US$1, this being the maximum for the minimum capital duty payable to the Registrar of Companies. The minimum issued share capital is one share of no par value or one share of part value.

Classes of Shares PermittedRegistered shares of par or no par value, preference shares, redeemable shares and voting or non-voting shares.

TaxationThere is no form of taxation in the Cayman Islands relating to individuals, Corporations or Trusts.

Double Taxation Agreements The Cayman Islands has no double tax agreements.

Financial Statements RequiredCompanies (Amendment) Law 2010 states that “Every company

shall cause to be kept proper books of account including where ap-plicable, material underlying documentation including contracts and invoices. Such documentation must be retained for a minimum period of five years from the date on which they are prepared”. Failure to retain such records shall be subject to a penalty of $5,000. Unregulated Exempt Companies do not need to file accounts.

DirectorsThe minimum number of Directors is one. The Directors may benatural persons or corporate entities. The Directors may be of any nationality, and need not be resident in the Cayman Islands.

Company SecretaryThe Cayman Islands Companies Ordinance does not make any specific reference to a requirement for a Company Secretary.However, it is customary to appoint one. Can be either a natural person or a corporate entity.


CAYMAN ISLANDS COMPLIANCE

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Gibraltar is famous for its dramatic rock. It is located in a strategic position at the southern end of the Iberian Peninsula. It overlooks the Straits of Gibraltar and is linked to Spain by a narrow roadway which crosses its aircraft runway. Gibraltar is small but imposing and measures approximately 6.5 sq km.

POPULATIONThe population of Gibraltar is about 30,000 although a substantial number of the working population commutes daily from homes nearby in Spain. A number of Moroccan, British and Indian expatriates live in Gibraltar.

POLITICAL STRUCTUREGibraltar is a British Dependent Territory and is a Crown Colony with internal self-government based on a Constitution of 1969. It has its own elected House of Assembly, which legislates on domestic matters. The United Kingdom is responsible for defence, foreign affairs, financial stability and internal security. Gibraltar became part of the European Community in 1973 when it joined as a UK Dependent Territory under Article 227 (4) of the Treaty of Rome. Gibraltar enjoys special status within the Community and is exempted from the Common Customs Tariff, the Common Agricultural Policy and Value Added Taxation.

INFRASTRUCTURE AND ECONOMYSince the opening of the border with Spain in 1985, the level of tourism and investment has increased dramatically. Several international banks and insurance companies have offices in Gibraltar. Gibraltar has excellent modern postal and telecommunications systems. Thanks to a joint venture between the Gibraltar Government and the Nynex Corporation of the USA, Gibraltar enjoys the latest in digital and fibre-optic telecommunications. This has produced a growth in the technology sector with a number of betting and gaming companies taking advantage of the low-tax re-gime and good telecommunication facilities. The growth in the gaming industry has not only produced in excess of 1,100 jobs but the industry also pays in excess of £4M to the Government each year in Gaming Tax. The Port of Gibraltar enjoys free port status and hosts frequent calls from many of the world´s shipping lines, both passenger and freight. Bunkering is a significant business in Gibraltar. Gibraltar’s Stock Exchange, “GibEx” opened in May 2007 and has the technical assistance of the Vienna Stock Exchange as well as Bank Medici. A major partner of the Stock Exchange is Van der Moolen NV which is known to be the fourth largest liquidity provider on the New York Stock Exchange.

LANGUAGEThe official and spoken language is English. Gibraltarian is a mix of English, Spanish, Arabic and Maltese.

CURRENCYGibraltar Pound which is on par with the British Sterling.


TYPE OF LAWCommon Law based on English Common Law.

PRINCIPAL CORPORATE LEGISLATIONBased on the United Kingdom 1929 Companies Act (as amended) and the Companies Ordinance 1984 (as amended). The tax status of Gibraltar Companies is established by the Gibraltar Companies Ordinance of 1967.Recent amendments to the Act ensure that all relevant EU Directives are implemented.

Location: MediterraneanTime: GMT + 1 HourCapital: Gibraltar Official Language: EnglishCurrency: GBPIDC: +350Legal System: English Law with local statute variationsPolitical System: DemocraticShelf Companies: YesIncorporation Time: 3 – 5 DaysDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: YesNominee Directors: YesBearer Shares: YesMin. Shares: 1Public Share Registry: YesMeetings: Once a year at any locationRegistered Office: YesAnnual Accounts Return: YesAudit Requirements: YesBank Accounts: Anywhere in the world

Restrictions on TradingCannot trade within Gibraltar or remit income to Gibraltar if the company is to retain its non resident status for tax purposes. A Non Resident Company cannot undertake the business of banking, deposit taking, insurance, assurance, reinsurance, fund management, asset management or any other activity associated with the finance industry.

Powers of CompanyA company incorporated in Gibraltar has the same powers as a natural person.


Registered Office RequiredYes, must be maintained in Gibraltar.


Time to IncorporateSubject to name approval, a company can be incorporated within three to five working days.

Name RestrictionsAny name that is identical or similar to an existing company. Any name which, in the opinion of the Registrar, is undesirable or offensive. Any name that suggests Roy-al or government patronage. Any English name, or their foreign language equivalent, which may imply a field of activity associated with the banking or finance industry.

Language of NameThe name can be in any language that uses the Latin alphabet, but must be accompanied by a translation to ensure that the name is not prohibited or licensable.

Names Requiring Consent or LicenseThe following names or their derivatives require consent or a licence: bank, building society, insurance, assurance, reinsurance, fund management, asset management, investment fund, trust, trustees, municipal, Chamber of Commerce, cooperative or their foreign language equivalents. “International” and “Gibraltar” cannot be used without consent unless they are bracketed.

Suffixes to Denote Limited Liability Limited or Ltd.

Disclosure of Beneficial Ownership toGovernment AuthoritiesThe names of the Shareholders are required to be listed on the Annual Return and Incorporation documents. The identity of the Beneficial Owners of the Gibraltar Non Resident Company may remain confidential if Corporate Shareholders are engaged to act as the Shareholder on behalf of the Ultimate Beneficial Owners. This confidentiality is maintained as long as the company and its Ultimate Beneficial Owners are not involved in any criminal activity.

Confidential Bankingeazyoffshore can incorporate your Gibraltar company and open a highly confidential bank account at the same time. To make the most of your Gibraltar IBC, a confidential bank account is a must.

Gibraltar Offshore AnonymityGibraltar has traditionally offered excellent privacy. Gibraltar offshore companies are not required to disclose the names of Beneficial Owners to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore foundation in the West Indies acts as Nominee Director and Shareholder ensuring the ownership of your Gibraltar company can never be discovered.

Authorised and Issued Share Capital

Usually £2,000 divided into 2,000 shares of £1 each. This being the maximum authorised share capital for the minimum capital duty payable upon incorporation. The authorised share capital may be expressed in any currency. The minimum issued capital is £100.

Classes of Shares Permitted

Registered shares, preference shares and redeemable shares or shares with or without voting rights.

Taxation

A Gibraltar Non Resident Company does not fall under the Gibraltar tax system and therefore is not required to register or file in Gibraltar for taxation purposes. In addition there is no wealth tax, Capital Gains Tax, gift tax or Value Added Tax.

Double Taxation Agreements

Gibraltar is not a party to any double tax treaties.

Financial Statements Required

All Limited Companies are required to file accounts, however it the company quali-fies as a “small Company” an abridged balance sheet is permissible and there is no requirement for an audit or profit and loss accounts. To qualify as a small company two of the following three requirements should be met:• Net Annual Turnover below £4.8 million.

• Total Balance Sheet value below £2.4 million.• The number of employees should not exceed 50. A medium sized company is required to file a Profit and Loss, Balance Sheet and an Auditors report, to qualify as “medium company” two of the following three require-ments should be met:• Net Annual Turnover must not exceed £19.2 million.• Total Balance Sheet value below £9.6 million.• The number of employees should not exceed 250.A large company must file Profit and Loss Statements, Balance Sheet and an Auditors Report. Accounts are not available to the public. Directors

The minimum number of Directors is one, who may be natural persons or corporate entity. They may be of any nationality, and need not be resident of Gibraltar.

Company Secretary

All Gibraltar companies must appoint a resident Company Secretary, who may be a natural person or corporate entity.

Shareholders

The minimum number of Shareholders is one and should be a non resident of Gibraltar.

• A minimum of one Shareholder and one Director is required. They may be of any nationality and must not be resident in Gibraltar• All Gibraltar companies must appoint a resident Company Secretary, who may be a natural person or a corporate entity• The names of Company officers appear on public record. Anonymity can be preserved by the use of eazyoffshore’s Nominee Directors and Shareholders• Accounts and tax filing must be submitted every year • The tax rate is 10% as from 1st of January 2011. This rate of tax will be levied on company profits which derive in or accrue in Gibraltar (otherwise zero)• Very stable jurisdiction with an excellent reputation• Subject to name approval, a company can be incorporated within 3-5 days (same day speedy service available on request)• eazyoffsore shelf companies are available for immediate purchase• IMPORTANT - A Gibraltar Company is due for renewal on its anniversary of incorporation

GIBRALTAR COMPLIANCE

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A minimum of one Director and one Shareholder • must be appointedA Company Secretary must be appointed. An • individual Secretary must be ordinarily resident in Hong KongThe names of company officers appear on public • record. Anonymity can be preserved by eazyoffshore’s Nominee ServicesPreparation of accounts is required. Accounts are • not publicly accessibleA Private Company is required to file an • annual return each year within forty-two days of the company´s anniversary date of incorporationA Hong Kong company is only taxed on its profits • arising in or derived from a trade or business carried on in Hong Kong. Worldwide profits can be drawn in with no tax payable. There is no tax on dividends paid by a company otherwise chargeable to profits tax The actual incorporation takes about 6 working days• Stable jurisdiction with very good reputation• Included in your formation is the Tax Registration of • your companyeazyoffshore provide local accounting and auditing • services at very competitive ratesIMPORTANT - A Hong Kong Company is due for • renewal on its anniversary of incorporation

Location: Province of ChinaTime: GMT + 8 HoursCapital: Victoria (or nowadays ‘Central’)Official Language: Cantonese & EnglishCurrency: HKDIDC: +852Legal System: English Common LawPolitical System: Special Administrative RegionShelf Companies: YesIncorporation Time: 6 DaysDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: Listed Companies OnlyNominee Directors: YesBearer Shares: NoMin. Shares: 1Public Share Registry: NoMeetings: Once a year at any locationRegistered Office: YesAnnual Accounts Return: YesAudit Requirements: YesBank Accounts: Anywhere in the world

Hong Kong is on the southeast coast of China and consists of a large number of islands and a part of the mainland totaling just over 1,000 sq km. On 1 July 1997 all of Hong Kong reverted from British control back to China and became a Special Administration Region “SAR” within the People´s Republic of China (PRC).

POPULATION7 million.

POLITICAL STRUCTUREHong Kong elects its own legislature and maintains its own court structure.

THE FUTURE OF HONG KONGUnder the “one country - two systems” philosophy, the SAR has executive, legislative and independent judicial power. The capitalist system, legal structure and lifestyle remain unchanged. Hong Kong remains a free port with a free flow of capital and a freely convertible Hong Kong dollar. With China pushing forward with the modernisation of its own economy, the PRC has expressed the wish that Hong Kong should assist in this endeavour. It has stated that its future development will be based on market led reforms with socialist characteristics and this has led to the opening up of its economy to foreign investments. It is widely recognised that Hong Kong is and will continue to be a significant gateway to China. Operating from 2004, Hong Kong and Mainland China has been developing the Closer Economic Partnership Arrangement (CEPA). The Arrangement is to ensure Hong Kong is “economically interlocked” with the Mainland and that CEPA has offered lower entry thresholds for smaller players (capital/trading history requirements) in Hong Kong and 100% ownership of many China ventures. It makes Hong Kong the simplest, most profitable route into and out of Mainland China. CEPA offers preferential access to China’s markets, commitments made by China under WTO. It adds to the long list of reasons why international businesses choose Hong Kong as a base for their China and Asia operations today.

INFRASTRUCTURE AND ECONOMYHong Kong has excellent communication facilities. Since 2001 Hong Kong has achieved a yearly accolade in the Skytrax annual passenger survey and has been voted as the World´s Best Airport eight times. Hong Kong has been ranked first in terms of economic freedom for 16 consecutive years (1995 – 2010) by the Heritage Foundation of its Economic Freedom study. Up to end of May 2010, the external net assets held by banks and deposit-taking institutions reached HK$1,656 billion, making Hong Kong one of the largest banking centres in the world.

LANGUAGEThe official languages are English and Chinese, with English being used in the commercial and political context and Cantonese Chinese used widely in industry and domestic trade.

CURRENCYThe Hong Kong Dollar, which is officially pegged to the US Dollar.


TYPE OF LAWCommon Law. Based on English Common Law.

PRINCIPAL CORPORATE LEGISLATIONCompanies Ordinance (Cap 32).

Restrictions on TradingCannot undertake banking or insurance activities or solicit funds from or sell its shares to the public.

Powers of CompanyA Hong Kong company has all the powers of a natural person.

Language of Legislation and Corporate DocumentsChinese and English.

Registered Office RequiredYes, must be maintained in Hong Kong.

Name Approval RequiredIt is not possible to reserve a name. It is essential to check that there is no similar or identical name on the register, which would prevent the company being incorporated.


Time to IncorporateAbout 6 working days from the submission of documentation.

Name RestrictionsA name that is similar to or identical to an existing company. A name that constitutes a criminal offence or is otherwise contrary to the pub-lic interest. A name that gives the impression of which it is connect-ed with the Government of PRC, the Government of HKSAR or any

departments of either Governments. Names Requiring Consent or License Building Society, Chamber of Commerce, cooperative, Kaifong, mass transit, municipal, savings, tour-ist association, trust, trustee, underground railway, bank, insurance, assurance, reinsurance, etc.

Suffixes to Denote Limited Liability Limited.


Confidential Bankingeazyoffshore can incorporate your Hong Kong company and open a highly confidential bank account at the same time. To make the most of your Hong Kong IBC, a confidential bank account is a must.

Hong Kong Offshore AnonymityHong Kong has traditionally offered excellent privacy. Hong Kong offshore companies are not required to disclose the names of Beneficial Owners to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore foundation in the West Indies acts as Nominee Director and Shareholder ensuring the ownership of your Hong Kong company can never be discovered.

Authorised and Issued Share CapitalThe usual authorised share capital is HK$1,000. The minimum issued capital is one share of par value.

Classes of Shares PermittedOrdinary shares, preference shares, redeemable shares and shares with or without voting rights.

TaxationHong Kong is one of the few countries in the world that tax on a territorial basis. Many countries levy tax on a different basis and they tax the worldwide profits of a business, including profits derived from an offshore source. Hong Kong profits tax is ONLY charged on profits derived from a trade, profession or business carried on in Hong Kong. Consequently, this means that a company which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax in Hong Kong on those profits. Hong Kong sourced income is currently subject to a rate of taxation of 16.5%. There is no tax in Hong Kong on capital gains, dividends and interest earned. The principle of Hong Kong profits tax is that it is a tax on profits that has its source in Hong Kong rather than a tax based on residence. Income sourced elsewhere, even remitted to Hong Kong, is not subject to Hong Kong profits tax at all. Consequently, if a Hong Kong Company´s trading or business activities are based outside Hong Kong no taxation will be levied. A factor that determines the locality of profits from trading in goods and commodities is generally the place where the contracts for purchase and sale are effected. “Effected” does not only mean that the contracts are legally executed, it also covers the negotiation, conclusion and execution of the terms of the contracts. If a business earns commission by securing buyers for products or by securing suppliers of products required by customers, the activity which gives rise to the commission income is the arrangement of the business to be transacted between the principals. The source of the income is the place where the activities of the commission agent are performed. If such activities are performed through an office in Hong Kong, the income has a source in Hong Kong. Certain sums, like royalties, paid or payable to non-resident persons for use of or right to use certain intellectual property are subject to withholding tax. The payerwho claims deduction for the use of the intellectual property against its assessable income is required to withhold a prescribed percentage from the payment while that recipient is not subject to Hong Kong profits tax. The prescribed percentage is 4.95% on the gross payment

if the payer and the recipient are not related, but 16.5% if the payer and recipient are related. The recipients of the royalties may enjoy different treaty rates under double taxation agreements.

Double Taxation AgreementsHong Kong has arrangement with a number of jurisdictions for double taxation relief of shipping or airline income. It has also comprehensive double tax agreements with Belgium, Thailand, and Luxembourg respectively to relieve taxation on income, for instance, dividends, interest and royalties. The Hong Kong Inland Revenue Department allows a deduction for foreign tax paid on a turnover basis in respect of income which is also subject to tax in Hong Kong. Therefore, businesses operating in Hong Kong do not generally have problems with double taxation of income.The respective comprehensive double tax agreements with Austria, Czech Republic, France, Hungary, Indonesia, Ireland, Japan, Kuwait, Liechtenstein, Netherlands, New Zealand, Portugal, Spain and Switzerland will become effective from 1 April 2012 to relieve the applicable double taxation on various incomes.

Financial Statements RequiredA Hong Kong company must keep accounting records, which may be kept at the registered office address or elsewhere at the discretion of the Directors. Every company must appoint an auditor who must be a member of the Hong Kong Institute of Certified Public Accountants and hold a practicing certificate. Although there is no requirement to file accounts with the Registrar, there is a requirement to file accounts with the Hong Kong Inland Revenue Department.

DirectorsThe minimum number of Directors is one, who may be natural persons or corporate entities. They may be of any nationality, and need not be resident in Hong Kong.

Company SecretaryA Hong Kong company must appoint a Company Secretary, who may be a natural person or a corporate entity. The Company Secretary must be resident in Hong Kong.


HONG KONG COMPLIANCE

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37

Nevis is situated in the northern part of the Leeward Islands and was once known as “The Queen of the Caribbean” due to its breathtaking palm-fringed beaches and scenery dominated by Nevis Peak in the centre of the island which rises to a height of over 3,200 feet.

POPULATIONThe population of Nevis is approximately 12,000.

POLITICAL STRUCTURENevis was a British colony from 1628 until 1983 when it became independent and joined the Federation of St. Kitts and Nevis. The Federation is an active member of the British Commonwealth. Nevis is a democracy based upon the British Parliamentary system with an elected local assembly. The Head of State is HM Queen Elizabeth II who is represented on the island by a Governor General.

INFRASTRUCTURE AND ECONOMYNevis was virtually a sugar monocrop economy until the late 1970s, when the government backed a drive into small-scale industrialisation. In July 2005, sugar production ceased. Tourism has become the largest source of foreign exchange although mass tourism has been rejected in favour of quality development and five star resorts. The arrival of the first direct flight from Atlanta Hartsfield Jackson International to St Kitts in February 2008 marks a significant milestone in the Federation’s (Federation of St Kitts & Nevis) efforts to penetrate the US travel market.In 1984 the Government of Nevis enacted a modern corporate statute, the Nevis Business Corporation Ordinance 1984, which has resulted in rapid growth of the finance sector with around 18,000 companies registered by 1999. The main trading partners are the US, the UK and Canada (for exports) and the US, Italy, and Trinidad and Tobago (for imports).

LANGUAGEEnglish is the official and commercial language of the Island. Nevis enjoys a literacy rate of 98%, one of the highest in the Western Hemisphere.

CURRENCYEastern Caribbean Dollar (EC$), which is fixed to the US Dollar.


TYPE OF LAWCommon Law based on English Common Law and American Corporate Law.

PRINCIPAL CORPORATE LEGISLATIONNevis Limited Liability Company Ordinance 1995.Nevis Limited Liability Company (amendment) Ordinance, 2009.

Location: Eastern CaribbeanTime: GMT -4/-5 HoursCapital: CharlestownOfficial Language: EnglishCurrency: ECDIDC: +1 869Legal System: English Common LawPolitical System: DemocraticShelf Companies: NoIncorporation Time: 24 HoursDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: NoNominee Directors: YesBearer Shares: YesMin. Shares: 1Public Share Registry: NoMeetings: Yes, at a time and place as indicated by the boardRegistered Office: YesAnnual Accounts Return: NoAudit Requirements: NoBank Accounts: Anywhere in the world

Sole member companies are permitted• Members may be individuals or corporate • entities of any nationality or domicileManagement of the company may be by the • members or by managers appointed by the membersMembers are not liable for the obligations • of the companyNo taxes are levied on income of a company • earned outside of NevisWhilst there is no requirement to submit or • file audited financial statements, a Nevis company is required to maintain financial records to reflect the financial position of the company No annual or other reports by members are • required to be filed in the public records of Nevis It takes only one working day to incorporate• IMPORTANT - Nevis Companies are due for • renewal on their anniversary of incorporation

Restrictions on TradingCannot trade within Nevis or own real estate there. A company may not engage in the business of banking, insurance, assurance, fund and collective investment schemes or any other activity that would suggest an association with the banking or insurance industries.

Powers of CompanyA company incorporated in Nevis has the same powers as a natural person.


Name Approval RequiredYes.

Shelf Companies AvailableNo.

Registered Office RequiredYes, must be maintained in Nevis.

Time to IncorporateOne day, but allow five days for delivery of documentation.

Name RestrictionsAny name that is identical to or similar to an translation if a foreign language name is to

be used. Names Requiring Consent or License Bank, Building Society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, municipal, trust,trustee, Chamber of Commerce, university or their foreign language equivalent.

Suffixes to Denote Limited LiabilityLimited Liability Company or LLC.

Disclosure of Beneficial Ownership to Government AuthoritiesNone.

Confidential Bankingeazyoffshore can incorporate your Nevis company and open a highly confidential bank account at the same time. To make the most of your Nevis IBC, a confidential bank account is a must.

Nevis Offshore AnonymityNevis has traditionally offered excellent privacy. Nevis offshore companies are not required to disclose the names of Beneficial Owners, Shareholders and Directors to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore foundation acts as Nominee Director and Shareholder ensuring the ownership of your Nevis company can never be discovered.

TaxationA Nevis Limited Liability Company pays no Tax on income earned outside Nevis.

Double Taxation AgreementsAlthough Nevis does have double tax agreements, a company incorporated under the Nevis Limited Liability Company Ordinance 1995 cannot obtain any treaty relief through them.

Financial Statements RequiredWhilst there is no requirement to submit or file audited financial statements, a Nevis company is required to maintain financial records to reflect the financial position of the company.

ManagersThe minimum number of managers is one. The managers may be natural persons or corporate entities and may be of any nationality and need not be residents of Nevis.

MembersThe minimum number of members is one. Members may be individuals or corporate entities of any nationality or domicile.

NEVIS COMPLIANCE

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The Republic of Panama has a land mass of about 75,500 sq km, is located between Costa Rica and Colombia, forms the narrowest and lowest portion of the isthmus that links North and South America. It is best known for the Panama Canal which joins the Caribbean Sea to the North Pacific Ocean, and connects Central America to South America.

POPULATIONThe population of Panama is approximately 3.4 million, about 52% of which reside in Panama City, consisting of mainly the Mestizos (70%) and a mix of West Indians, Caucasians and Indians. The dominant religion is Roman Catholicism.

POLITICAL STRUCTUREPanama was a Spanish colony until 1821. In 1903, Panama broke an alliance with Colombia and became an independent republic.

There are three Branches of Government:The Executive Branch of the Government is at present composed of a • President and two vice-presidents, elected by majority vote, for a five year term. The Ministers of State are appointed by the President subject to approval by the Legislative AssemblyThe Legislative Assembly is composed of legislators elected from the • electoral districts for a five-year termThe Judicial Branch of Government consists of Supreme Court of • Justice, five Superior Courts and three Courts of Appeal. The Supreme Court of Justice is presided over by nine judges appointed for a ten year term

An autonomous Electoral Tribunal supervises voter registration and all citizens over the age of 18 are required to vote.

INFRASTRUCTURE AND ECONOMYThe Colon Free Zone is located on the Caribbean side of the Isthmus of Panama near the Atlantic entrance to the Panama Canal. This Free Trade Zone is the second largest in the world after Hong Kong. Operations and transactions taking place in the Free Trade Zone are subject to a special tax treatment whereby imports from other parts of the world and reexports to other countries are exempted from any import or export taxes imposed by Panama. Income earned from re-exports is taxed at specially reduced rates. Panama has the world´s largest shipping registry and a well established Banking centre.

Economic growth will be bolstered by the Panama Canal expansion which began in 2007 and is expected to complete in 2014-15 at a cost of US$5.3 billion. The project will more than double the Canal´s pres-ent capacity enabling it to accommodate the modern super tankers that are becoming too large to transverse the existing transoceanic crossway. Without the expansion, it was anticipated that the Panama Canal would be forced to turn away approximately 37 per cent of the world´s con-tainer ships by 2011. Other areas of economic activity are in agriculture, manufacturing, construction, transport, tourism and financial services.

LANGUAGESpanish is the official and spoken language. English is also spoken widely in urban areas and is used daily in commerce and international trade.

CURRENCYUnited States Dollar.


TYPE OF LAWBased on Spanish Civil Law with many Common Law influences, particularly regarding Company Law.

PRINCIPAL CORPORATE LEGISLATIONCorporation Law No. 32 of the 1927 Commercial Code, Decree Law 5 of1997 and Executive Decree 296 of 1997.

Location: Central AmericaTime: GMT - 5 HoursCapital: Panama CityOfficial Language: SpanishCurrency: USDIDC: +507Legal System: Civil LawPolitical System: DemocraticShelf Companies: YesIncorporation Time: 2 – 4 DaysDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: NoNominee Directors: YesBearer Shares: YesMin. Shares: 1Public Share Registry: NoMeetings: Yes, any location in the worldRegistered Office: YesAnnual Accounts Return: NoAudit Requirements: NoBank Accounts: Anywhere in the world

A minimum of three Directors must be appointed. • Directors may be individuals or corporate entities • of any nationality or domicileA President, a Secretary and Treasurer must be • appointed. Directors of the company can also serve as Officers. One person can occupy each of the Officer positionsThe name and address of each Director and • Officer is filed with the Public RegistryThe names of Shareholders are not filed with the • Public RegistryWhilst there is no requirement to file audited • accounts with the authorities, a company is re-quired to keep financial records, which reflect the financial position of a companyPanama operates a territorial tax system. Income • earned from outside Panama is not taxable in PanamaInterest earned on bank accounts maintained in • Panama by a Panama company is exempt from tax in PanamaCompany takes two to four working days to • incorporateIMPORTANT - A Panama Company is due for • renewal on its anniversary of incorporation

Type of Company for international Trade and

Investment

Generally, Corporations are incorporated under the Corporation Statute Law 32 of the 1927 Commercial Code. Limited Liability Companies and Limited Partnerships are used also.

Restrictions on Trading

Cannot undertake the business of banking, trusteeship and trust administration, insurance, assurance, reinsurance, fund management, investment funds, collective investmentschemes or any other activity that would suggest an association with the banking, finance, fiduciary or insurance businesses.

Language of Legislation and Corporate

Documents

Spanish and certified English translations.

Registered Office Required

Yes, must be maintained in Panama at the address of the Registered Agent.

Name Approval Required

Yes.

Shelf Companies Available

Yes.

Time to Incorporate

Two to four days, subject to name approval.

Name Restrictions

A name that is similar to or identical to an existing company. Names of well known companies incorporated elsewhere or a name that implies government patronage.

Language of Name

Names may be expressed in any language using the Latin alphabet. The Registrar may request a Spanish or English translation. Names Requiring Consent or License Bank, building society, savings, insurance, assurance, reinsurance, fund management, investment fund, trust or their foreign language equivalents.

Suffixes to Denote Limited Liability

All Panamanian Corporations must end with the suffix Corporation, Incorporated, Sociedad Anónima or the abbreviations Corp, Inc or SA. They may not utilise the suffix Limited or Ltd.

Disclosure of Beneficial Ownership to

Government Authorities

No.

Confidential Banking

eazyoffshore can incorporate your Panama company and open a highly confidential bank account at the same time. To make the most of your Panama IBC, a confidential bank account is a must.

Panama Offshore Anonymity

Panama has traditionally offered excellent privacy. Panama offshore companies are not required to disclose the names of the Beneficial Owners to the authorities. With eazyoffshore there is a further level of anonymity protection. The easyoffshore foundation in the West Indies acts as Nominee Director and Shareholder ensuring the ownership of your Panama company can never be discovered.

Authorised and Issued Share CapitalThe standard authorised share capital is US$10,000 divided into 100 common voting shares of US$100 each or 500 common voting shares of no par value; the capital may be expressed in any convertible currency. The minimum issued capital is either one share of no par value or one share of par value.

Classes of Shares PermittedNon-voting shares, preferred shares and registered shares. Bearer shares can be issued but no-par-value and bearer shares must be fully paid when issued. The registered agent must keep the bearer shares certificate in safe custody and must notify the Registrar that the shares have been issued.

TaxationNo corporation tax is levied on non-Panamanian sourced income.

Double Taxation AgreementsNone.

Financial Statements RequiredWhilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.

DirectorsBoth corporations and natural persons may act as Directors and the minimum number of Directors is three. They may be of any nationality and need not be residents of Panama. Panamanian companies are also required to appoint a minimum of three Officers (President, Secretary and Treasurer) who may also be the Directors.

Company SecretaryA Company Secretary must be appointed, who may be a natural person or corporate body. The Company Secretary may be of any nationality and need not be a resident of Panama.


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49

Low start-up cost and low annual • maintenanceA minimum of one Director and one Share-• holder is required. They may be natural persons or corporate entities, be of any nationality and need not be resident in the SeychellesNo minimum paid-up capital is required to • start up a Seychelles IBCNo public disclosure of Directors or • ShareholdersTotal exemption from all forms of local • taxation including stamp dutyNo requirement for audit or to file accounts • and annual returnsIncorporation procedures are straightforward • and can normally be completed in one dayShelf companies are available for immediate • purchaseIMPORTANT - A Seychelles Company is due • for renewal on its anniversary of incorporation

The Seychelles group of islands in the Indian Ocean comprises over one hundred named islands, most being situated between four and five degrees South of the equator. The largest island is Mahé.

POPULATIONThe Seychelles has a population of around 80,000, descended primarily from French settlers, Africans, British sailors and traders from India, China and the Middle East.

POLITICAL STRUCTUREDiscovery of the Islands is credited to the Portuguese explorer Vasco de Gama. The first French settlement was established on St. Anne Island on the 27th August 1770. In 1814 the Seychelles, along with Mauritius, were ceded to Great Britain under the terms of the Treaty of Paris. It was only in 1960 that the first gradual constitutional reforms were introduced. The Head of State is the President and a National Assembly of directly elected Members heads the legislative side of Government. Seychelles is an independent republic within the British Commonwealth.

INFRASTRUCTURE AND ECONOMYThe Seychelles economy is primarily tourism and fishing based. Industrial scale fishing is on the increase. The rapidly expanding financial sector, linked to the establishment of the Seychelles International Business Authority and a suite of progressive laws facilitating the establishment of offshore structures and encouraging inward investment, is now a significant element of the economy.An ever-increasing number of international banks and insurance companies have established either branches or subsidiaries whom, together with local management, accounting and legal firms provide clients with support.The Port of Victoria is well equipped with modern cargo handling equipment and has more than 6,000 square metres of covered storage space.The Seychelles International Airport is one of the finest in the Indian Ocean region. In addition to the national flag carrier, Air Seychelles, the airport is served by a number of other airlines.

LANGUAGEThe official languages are English, French and Creole. Creole is spoken widely. English is the main language of business.

CURRENCYSeychelles Rupee.

EXCHANGE CONTROLExchange controls do not apply to offshore business.

TYPE OF LAWBased on English Common Law and French Civil Law.

PRINCIPAL CORPORATE LEGISLATIONThe International Business Companies Act 1994.

Type of Company for international Trade and Investment The Seychelles International Business Company.

Restrictions on TradingCannot trade within the Seychelles or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management (other than the company´s own assets) or any other activity that would suggest an association with the banking and insurance industries. A Seychelles IBC cannot provide registered office facilities in the Seychelles, or sell its shares to the public.

Powers of CompanyA Seychelles incorporated company has the same powers as a natural person.

Registered Office RequiredYes, must be maintained in the Seychelles at the office of a licensed Registered Agent.



Time to IncorporateTwo to three working days.

Name RestrictionsAnything identical or similar to a company already incorporated. Anything that implies patronage of the Seychelles, or any other government, insurance, Royal, imperial or any other name that may imply that a company intends to undertake a licensable or undesirable activity.

Language of NameThe name can be in any language, but must be accompanied by a translation in English or French. The documentation will either be in English, or it is possible to have bilingual documentation in English and Chinese or any other language accompanied by a translation in English or French.

Names Requiring Consent or LicenseBank, building society, savings, loans, insurance, assurance, reinsurance, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents or any name in English or a foreign language that may suggest association with the banking or insurance industries.

Suffixes to Denote Limited LiabilityThe name of an IBC must end in one of the following:Limited, Corporation, Incorporated, Société Anonyme or their abbreviations. A wide variety of other suffix-es such as BV, GmbH, and SARL may also be used. Disclosure of Beneficial Ownership to Government AuthoritiesNo.

Confidential Bankingeazyoffshore can incorporate your Seychelles company and open a highly confidential bank account at the same time. To make the most of your Seychelles IBC, a confidential bank account is a must.

Seychelles Offshore AnonymityThe Seychelles has traditionally offered excellent privacy. Seychelles offshore companies are not required to disclose the names of Beneficial Owners, Shareholders and Directors to the authorities. With eazyoffshore, there is a further level of anonymity protection. The eazyoffshore foundation in the West Indies acts as nominee Director and Shareholder ensuring the ownership of your Seychelles company can never be discovered.

Authorised and Issued Share CapitalSeychelles IBC’s are normally incorporated with an authorised share capital of US$100,000 with par value. The authorised share capital may be expressed in any currency. The minimum issued capital is either one share of no par value or one share of par value.


TaxationAn International Company is exempted from local taxation.

Financial Statements Required There is no requirement to file financial statements, but a company must keep records to reflect its financial position.

DirectorsThe minimum number of Directors is one, who may be a natural person or a corporate entity. They may be of any nationality and need not be resident in the Seychelles.

Company SecretaryA Seychelles IBC need not appoint a Company Secretary, although it is customary to do so. The Secretary may be a natural person or corporate entity, be of any nationality and need not be resident in the Seychelles.


Location: Indian OceanTime: GMT + 4 HoursCapital: VictoriaOfficial Language: English, French, CreoleCurrency: SCRIDC: +248Legal System: Based on English Common Law and French Civil LawPolitical System: DemocraticShelf Companies: YesIncorporation Time: 2 - 3 DaysDirectors: 1Residency: Not requiredCorporate Directors: YesShareholder Disclosure: NoNominee Directors: YesBearer Shares: YesMin. Shares: 1Public Share Registry: NoMeetings: NoRegistered Office: YesAnnual Accounts Return: NoAudit Requirements: NoBank Accounts: Anywhere in the world

SEYCHELLES COMPLIANCE

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Telephone: 0203 086 8315

Calling from outside the UK: +44 203 086 8315

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eazyoffshore London is an authorised representative office of International Incorporators Inc of Foundation House, Government Road, Nevis, West Indies. Company Incorporation Number C35917.

© COPYRIGHT 2013 INTERNATIONAL INCORPORATORS INC. ALL RIGHTS RESERVED. E&OE. THIS DOCUMENT AND ITS CONTENTS DOES NOT CONSTITUTE ADVICE AND READERS ARE ADVISED

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