Now before any business irrespective of its scale and an activity kind there are following problems:
· to Create effective administrative structure;
· it is reliable to protect the enclosed investments;
· to Provide confidentiality of possession with actives;
· Legally to optimise tax costs.
Modern methods of business architecture assume active application of the companies of various jurisdictions for achievement of the above-stated purposes. Presence in one corporate model of the firms registered in different parts of the world, has gained global distribution and is caused by a rigid competition of the states in struggle for attraction of investments (first of all, foreign) in which each of the countries offers the capital the advantages doing it attractive from the point of view of that decisions or other problems. It is necessary to notice, that though panaceas in sphere of the international tax planning do not exist,
The optimum combination of advantages of various jurisdictions represents to modern business as much as possible wide spectrum of possibilities:
1. Protection of investments. Besides the internal legislation of the Kyrgyz Republic guaranteeing the rights of investors, use of the foreign companies represents to business additional possibilities of protection of their interests, connected with application of norms of international law (bilateral agreements between the countries, conventions, instructions and so forth). Besides, such tools of protection of actives as trusts and funds, and at all guarantee their legal inviolability.
2. Confidentiality of possession of actives. Use of the offshore and-or nominal companies allows investors to provide high degree of confidentiality of possession with actives, and also to receive tax resident in more favorable tax jurisdiction.
3. Tax planning. Presence of agreements of the Kyrgyz Republic with other (not offshore) states about avoidance of the double taxation creates possibilities of essential decrease in tax loading on business. On occasion the taxation of a considerable part of profit can be and at all zero.
4. Creation of effective corporate structure. Application of the foreign companies helps investors to operate and supervise effectively actives belonging to them, to open bank accounts and to use the stablest foreign banks, to conclude transactions with foreign partners on behalf of the companies registered in the most respectable jurisdictions.
Construction of optimum corporate structure, as a rule, demands a significant amount of time, presence organizational and financial resources, and the main thing - high professionalism. Having sufficient knowledge and experience in sphere of the international tax planning and co-operating with the leading international consulting companies, our company renders following services:
· registration and service of the foreign companies, establishment of trusts and funds;
· nominal service;
· book keeping (IAS, GAAP) and audit;
· opening of accounts in foreign banks;
· full legal support of activity of the foreign companies.
We are convinced, that creation of effective business structure - an indispensable condition of any successful enterprise, and our company will be glad to help you with the decision of questions of corporate building.
The countries which most all are of interest for company registration can be divided on two groups differing on level of the taxation and the state control over commercial activity.
In the first group the state formations and administrative territories in which the procedure for registration of legal bodies is extremely simplified concern and are considerably lowered or there are no profit taxes - "tax harbours" or "typical" offshore jurisdictions:
Jurisdictions of Central America - Belize, Panama.
The Caribbean jurisdictions - the Bahamas, the British Virgin Islands, Nevis, Islands Terks and Nevis.
Pacific jurisdictions - a Western Samoa, islands Marshallovye, Seychelles
Jurisdictions of Asia - (Malaysia).
Jurisdictions of Indian ocean - Mauritius.
The European jurisdictions - Cyprus, Gibraltar
The following concerns number of features of "tax harbours":
The profit tax in "tax harbours" is absent, or does not exceed 1 - 2 %, or is replaced by annual gathering which in the different countries is in limits 150 - 1000 USD. In a year also does not depend on the sizes of the income.
In "tax harbours" registration procedure is as much as possible simplified: the minimum size of the authorised capital usually is not established; persons of owners of firms are not subject to disclosure.
In "tax harbours" there are no restrictions on currency export. Firms can freely open deposits in any currency in any foreign banks.
Procedure of management by firm is extremely simplified. It is sometimes conditional - management in this case is carried out by secretarial firm by proxy the owner.
Placing of firms in "tax harbours" manages much more cheaply, than in zones of the moderate taxation and the largest industrial countries.
Jurisdictions where at high enough level of surtax the system of the special tax privileges is applied, concern the second group of the concerning mechanism of transfer of incomes and репатриирования profits.
The taxes raised in these countries at export and репатриировании of dividends, bank percent, payments of a royalty and some other types of income, are usually lowered.
Into number of the countries with moderate tax system enters:
Panama - is located in Central America, between Northern and the South America.
Territory - 76 900 sq. km, the population - about 2,5 million, a state language - Spanish, (office-work on English) national currency - Belizski dollar.
1 Belizski dollar = 1 USD.
The corporate legislation the Law on corporations 1927 ., changes in 1997 .
Panama is to the Hague Convention from 1961.
The form of the company released from taxes Corporation (further the company).
The resolved kinds of activity - Any activity not forbidden by the law. The special licence for carrying out bank, insurance and resafety, trust services is necessary.
The forbidden activity - Is not present
The Corporation taxation are released from all taxes and duties from the incomes arising at operations outside of Panama.
The company name - should not be identical or similar on already existing.
Words Limited or Ltd concern other form of the companies and cannot be used for offshore corporations.
The name can contain words Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter Haftung or abbreviations Corp., Inc., GmbH, SA, AG.
Words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other words or the word-combinations having the same value cannot be used in the corporation name.
Who signs constituent documents the Minimum two persons who subscribe a minimum for one action everyone.
Functions of subscribers - only signing of constituent documents and appointment of the first director.
The authorised capital of the company the Authorized capital of the company is declared, there are no requirements about obligatory payment and an establishment of the minimum and maximum size.
The offered authorised capital 10000 USD, is divided into 100 actions by face value 100 USD.
Actions release of registered stocks and to bearer, with nominal and without a face-value Is resolved.
Shareholders
- A minimum quantity
- Nominal shareholders
- Possession of actions on a trust
One physical or the legal body
Are resolved
It is authorised
Whether it is provided with the law not opened information:
- About the real proprietor of the company - Yes, the real proprietor of the company is not registered in Panama
- About bank operations - Yes
Directors
- A minimum quantity
- A nationality and citizenship
- The status 3, can be both physical, and legal bodies
There are no requirements
All rights, except shareholders being in the exclusive competence (it is defined by the memorandum, the charter and-or the law).
Presence in territory of Panama
- Registration office
- The registration agent
Unessentially
Necessarily
Carrying out of meetings of shareholders / directors of Meeting can be spent in any part of the world, carrying out of meetings by means of telecommunication is possible. Reports of meetings are stored in any place.
Term of registration of 3 weeks
The information accessible on request of the third parties the Charter, names and addresses of the registration agent and directors.
Contract about avoidance of the double taxation - Is not present
The currency control - Is not present
Necessity
- Book keeping conducting - Is not present
- Annual report drawing up - Are not present
- Audit report grantings - Are not present
Payment of the governmental gathering and service of the agent are made макс. For 2 months / minute for 15 days of date of registration.
Possibility of acquisition of the ready company: Yes
The documents stored at registration office - Are not present requirements.
Legalisation documents:
Legalisation of documents means, that the documents accepted in one state, receive a validity in other state.
To legalise documents it is required: document assurance by the jury notary.
The accepted Hague Convention of 1961 considerably simplifies this procedure. For giving of legality to the documents accepted in the countries, signed the Hague Convention, the Apostille put by consular department of the Ministry for Foreign Affairs suffices. The in itself Apostille is not the separate document. It exists only together with the core assured by the document to which it is filed or attached.
The apostille admits all countries which have joined the Hague convention of 1961, as the document witnessing authenticity of the signature in which quality the person who has signed the document acted, and, in an appropriate case, authenticity of the press or a stamp by which this document is fastened. An apostille put both on the original, and on a document copy. Апостилизированные copies of constituent documents are valid originals and their recognition is obligatory.
Documents on which are available the Apostille, will not demand other assurance or legalisation of the countries which have joined the Hague Convention (www.hcch.net).
As the number of the countries varies, we did not begin to publish the list of the countries entered the Hague Convention. The given information can be found in the Internet to the address <http://www.hcch.net/>
Annual support of the companies
Into annual support of the company enters:
Payment of the state fixed annual duty
Fee of the registration agent, the secretary
Payment of the registration address
For the company with nominal services - payment of nominal services
From its part we render services in support of the company and prolongation of the power of attorney (if nominal services are used).
At your desire we are ready to remind every year to you of approach of terms of annual payments, exposing you the account, and consistently sending on you the specified address the new power of attorney.
Therefore we will be grateful, if you send us number of your fax, E-mail the address or other contact requisites on which we can notify you on approach of term of payment of payment.
If you намерены to use the got company more than one year, we recommend to accept the offer on our annual notification on terms of payment of annual support of the company for non-payment of annual support involves negative consequences for your offshore company:
The company will be excluded from the Register of the companies, for company restoration will be necessary long and expensive! Procedure reincorporation
Contracts and other legal documents signed on behalf of the company, since the given moment will not have a validity
If nominal directors of the company give out the power of attorney on the authorised person for the order by the bank account at the expiry of the term of action of the power of attorney and it not prolongation the bank has the right to block the company account
Annual support
Jurisdiction Term of exhibiting of the account / a payment total elapsed time invoisa:
1. Belize LTD - on May, 1st / on July, 15th
2. Panama Corp - for 2 months of date of registration / for 15 days
3. Bahamas LTD - on March, 1st / on April, 15th
4. BVO LTD - if it is registered till June, 1st / on May, 15th if it is registered after June, 1st / on October, 15th
5. Niye LTD - on February, 1st / on March, 15th
6. Marshalovy islands. Corp - for 2 months of date of registration / for 15 days
7. Sejshejlsky islands LTD - for 2 months of date of registration / for 15 days
Price - sheet
Registration and annual support of the offshore companies
Registration cost in USD Annual support in USD
Company jurisdiction / without № number / with № number / without № number/ with № number
Belize LTD 1900 2200 650 950
Panama Corp 1900 2100 600 900
Bahamas LTD 2000 2300 750 950
BVO LTD 2100 2400 700 900
Niye LTD 1800 2100 800 950
Marsholovy Island. Corp 1800 2000 800 950
Sejshejlsky Island. LTD 1800 2000 700 950
Cost of the offshore company includes:
1. Company registration;
2. Payment of State Taxes;
3. Fee of the registration agent (secretary);
4. Pay the registration address the base complete set of documents: the registration certificate with an apostille, the charter (memorandum), appointment of the director, the certificate () actions, the press for the company with nominal services - nominal services, the general power of attorney, Panama, Sejshejlsky the ost.-power of attorney with an apostille, Trust the declaration (), the agreement nominal services, negative the letter () directors;
5. Payment of express mail to a place specified by the buyer;
Cost of annual support (from 2nd year) includes:
1. Payment of the state fixed annual duty;
2. Fee of the registration agent (secretary).