LIQUIDATION OF AN IBC

A Foundation can be dissolved where:

(i)              It is established for a definite period of time and that period expires

(ii)           Its object is fulfilled or becomes incapable of fulfillment as determined by a resolution of councilors, and if so required under the charter or regulations, with the consent of the Foundation’s supervisory person, if any

(iii)           Any term of its charter or regulations so requires

(iv)          It is unable to pay its debts as they fall due; or

(v)           The court order that it be dissolved

 

A Liquidator must be appointed where a foundation is dissolved.

 

We require the following prior to commencement of the dissolution:

a)              Resolution of the Councillors appointing the Liquidator to supervise the dissolution of the Foundation

b)             The name and address of the Liquidator

c)              Date of commencement of dissolution

 

 

Upon completion of the dissolution we require:

a)     a written statement by the Liquidator confirming the dissolution of the Foundation has been completed

b)    Publication of Notice that the Foundation has been dissolved and struck off the Register in the Official Gazette

Having trouble opening bank account?

Banks are known to be strict and bank accounts are Difficult to open. Banks are paying very close attention to Anti Money Laundering (AML), Know Your Clients (KYC) and performs strict due diligence. If presented documents are not of bank requirement, it affects the chances of getting the bank account opened.

 

To increase the chances of bank account opening, we provide service on personal preparation and guide you through the entire process. We will go through all required documents with you and check if the documents are what the bank is looking for. All prepared documents will be looked at and if there should be any additional documents ready for the bank meeting.

Bear in mind that it’s always bank decision whether the bank account is open nor the agent or any other third party is responsible for the scheduling between the customer and the bank.

How do you define a Resident Company?

A resident company is Entity treated by the jurisdiction, in which it is registered / incorporated / conducts its business, as resident for exchange control and/or tax purposes.

Business registration is not for regulating business activities. Neither is it a license to trade. Its main objectives is to provide Inland Revenue Department (IRD) with information on businesses so tax files can be opened and updated regularly; and to enable the public to obtain information on businesses with which they are dealing with.

Mauritius company GBC1 vs. GBC2

There are two types of Global Business companies namely the Category 1 Global Business Company (“GBC1″) and the Category 2 Global Business Company (“GBC2″)

The choice between the two types will depend on a number of factors like the proposed activities of the company and the geographical area of operation. Global Business Companies can undertake activities ranging from investments in Africa and other parts of the world to trading. While the GBC1 is resident for tax purposes in Mauritius and can thus avail itself of the benefits of the double taxation treaties signed by Mauritius, the GBC2 is tax exempt and is typically used where no tax treaty benefits are sought.

Should you have any queries , please contact us.

Set up company in California

Get your California start-up off the ground. The exact requirements vary slightly from state to state, but opening up an LLC or Corporation is a relatively simple process! Corporations are subject to an annual $800 minimum franchise tax if it is doing business in the state, whether the corporation is active, inactive, operating at a loss, or filing a short period return for less than 12 months.

 

Process:

  1. Choose your company name (Your legal name must end with an LLC designator, such as “Limited Liability Company”, “LLC”, etc.)
  2. Fill out the LLC Articles of Organization form
  3. Submit your Articles of Organization form
  4. Your company is incorporated

 

Please contacts us should you have any queries!

Dear Sir/Madam,

We are delighted to inform you that Labuan IBFC, in collaboration with the Financial Times, will be hosting the second annual ASEAN Wealth Management Summit on 18 November 2014 at the InterContinental Hotel in Singapore.

Hear from policy makers, regulators, and industry leaders how ASEAN countries are developing as centres for wealth management, what they can offer to clients in Asia, and what regional financial integration will mean for them.

Company formation in Germany

Company formation in Germany – here is a guideline

1.            You complete the order form

2.            You will then receive the invoice for the incorporation

3.            After payment of the invoice has been made, we will start the incorporation process

4.            Once we have notarized the incorporation of the company, we – if you wish – open a bank account

5.            Once the company has been registered in the commercial register, we notarize the transfer of all shares to you

6.            You will in writing authorize the transfer of all shares to you

7.            We then provide you with the draft shareholders resolution to appoint yourself or a person determined by you as managing director (resolution in writing)

8.            You or the person determined by you will have to sign the filing of the new managing director in notarized form at a German notary or at a German embassy or consulate

9.            I will withdraw as managing director of the company after you or the person appointed by you has been registered in the commercial register.

Please let us know should you have any question. Your Startupr Team

Set up your company in Wyoming

A few information on Wyoming:

Why Wyoming: No 1 for Best Business environment for their tax friendly system

Time: Wyoming regular filing is approximately 7-10 days

LLC entity -

WYOMING LLC TOTAL ONLY: $189
THE TOTAL PRICE INCLUDES:
- Wyoming State fees: $100
- Startupr service fee of $89 includes:
a) Checking Startup Name Availability,
b) Preparing your State approved Articles of Formation Form,
c) Filing Articles with the state,
d) Sending LLC Certificate of Formation to you

Please visit for more: startupr Wyoming

 

Sensitive Word – Company names

Companies Registry class some words, which are included in the Company Registration name, as sensitive words. These words should not be included in the company as they might require special license.

Company names which are sensitive:

  • Charter
  • Charterer accountant
  • Council
  • Family Trust
  • Foundation
  • Fund
  • Government
  • Group
  • Holding
  • Mutual
  • Notary
  • Parliament
  • Society
  • Turst
  • Underwriting

Please contact us further if you have any doubt about your company name. info@startupr.com

Sponsorship – Startup Weekend Madrid

Hello, all of us knows Startup Weekends, here we are our another sponsorship ! We support startups! Have a great day

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