Jakub Vele

Oct 18 2011

Why to open up a company in United Arab Emirates (UAE)

Due to the fact that the jurisdiction of RAK – Ras Al Khaimah has been promoted as the offshore location, there is not the stigma of typical offshore jurisdiction and not being black listed by the OCDE. This is the biggest advantage once you register company in UAE. The Emirates fall under the ZERO TAX jurisdiction and therefore has no issues of VAT, Corporation Tax.Tax on rental income, CGT Tax or IHT Tax.

100% repatriation of profits and capital is allowed

No withholding nor import or export taxes

No accounting or reporting requirements

No corporate taxes are charged

Advantage of RAK Free Trade zone

International Business Company – IBC in Ras Al Khaimah – RAK – bear in mind that company business needs to be operate outside of the jurisdiction. This is the main requirements if you want to trade in United Arab Emirates, you should consider to open up a company in BVI. (e.g.)

Offshore bank account requirements

We do work with Barclays in Dubai. This is our standard bank which we offer to our clients. If you wish to open up a bank account with HSBC, Standard Chartered or chose your own bank. The most important matter to look at is to be sure whether the bank requires the minimum initial deposit. For Barclays in Dubai, it’s zero.

Register company in United Arab Emirates

By Jakub Vele • United Arab Emirates • 0 • Tags: United Arab Emirates

Oct 7 2011

Cayman Islands – Fund set up

Here is some basic information on fund set ups.

Key points to ask are:

What is the intended structure, company, partnership, SPC?
How many investors and what is the initial level of assets to be under management?
Is it intended that there will be a separate investment management or investment advisory company? If so, will it be a Cayman company?
Will the participating shareholders be third party investors or will all investment capital be “in-house”?
Is it intended that the company operate with a monthly or periodic NAV or will it operate as a private investment company?
Is it intended that there should be an independent Administrator? If so, in Cayman or elsewhere?
Will there be a desire to have an audit?
Will a formal Offering Memorandum be required?
What service will be required in Cayman? Will this include the provision of one or more independent directors?

If you want to proceed the application or just go a little bit further send as an email with the answered question and we will come to you shortly.

Set up a Cayman Fund.

By Jakub Vele • Cayman Islands • 0 • Tags: Cayman Islands

Oct 6 2011

Register company in United Arab Emirate

Ras Al Kaimah (RAK) is one of the emirat of UAE representing the offshore jurisdiction. RAK authoity provides International Business Company (IBC) concept from January 2007. Nowadays, it’s the youngest offshore jurisdiction since IBC was founded. Due to this fact, RAK is regarded as one of the top offshore jurisdiction in term of

Why to incorporate in UAE?
– even that RAK is regarded as offshore jurisdiction, this emirates has been modified to secure a local development. On the other hand, typical offshore jurisdiction as Seychelles or BVI have only a tax benefits for that reason many companies have been registered since 2007.
– UAE – RAK has been regarded as country/emirates with special status which is recognized as a white-listed jurisdiction
– RAK has currently signed 52 agreements securing the double tax treaties. Here you can find the full list of double taxation treaties.

What are the advantages?
– exemption from all corporate and income taxes
– no restriction on money exchange
– the cost of setting up a company is lower than an onshore company
– the offshore company can act as holding
– zero corruption and minimum bureaucracy
– strategic location for Middle East & Asian region

Register company in United Arab Emirates with Startupr.

By Jakub Vele • United Arab Emirates • 0 • Tags: United Arab Emirates

Oct 3 2011

Seychelles as the low cost offshore jurisdiction

If you have wondered what is the cheapest jurisdiction where you can register company, you might be pretty sure that Seychelles is the place where you can get lowest prices. Than it just depends on your perceptions why to use Seychelles jurisdictions. The local banking system doesn’t offer a lot of bank institutions for your company however you still might be interesting in Barclays which we recommend. If you don’t want to use local bank, please see our order list – section bank account services where you can chose banks as HSBC, Bank of Valletta, Loyal Bank or Cim Banque.

What services I should be aware of?

government fee: 100 USD (yearly renewal government fee)
registration fee (incorporation fee): 89
office address fee: 389 USD (mandatory (there is no need of local secretary)

Up to here your company is ready and might be used as an entity once doing business. The status of the company is IBC ( International Business Company) however you still need to receive money once you invoice your client for that purpose you should get Apostilled documents.

Additional services:
Apostilled documents (Memorandum and Articles of association (M&A), Incorporation document, Certificate of Incumbenncy, Certificate of Incorporation & Share Certificates) fee: 175 USD
Nominee director: 600 USD
bank account opening: from 89 USD

More: Business in Seychelles.

Register company in Sechelles.

By Jakub Vele • Seychelles • 0 • Tags: Seychelles

Sep 29 2011

Android developers – Where to register company?

As Android application developer you might wonder in which country you should have registered company in order to get paid. Google has published a list of
countries where you should have registered company in order to be able to sell your application. If you are from e.g. India, China or Poland, you should consider where to open up a company!

Startupr can help you with company formation in (Google Checkout merchant countries):

– Hong Kong
– Ireland
– Singapore
– USA
– UK

By Jakub Vele • Hong Kong, Ireland, Singapore, United Kingdom, USA • 0 • Tags: Hong Kong, Ireland, Singapore, United Kingdom, USA

Sep 28 2011

3rd registered company in Hong Kong will get a bonus of 50 US$

Hello to all of you, we have come up with an idea to reward 3rd company applying for a company registered in Hong Kong.

Only for company registration in Hong Kong!

By Jakub Vele • Hong Kong • 0 • Tags: Hong Kong

Sep 28 2011

Rules for using company names

We have posted a few months ago an article: Think about the company name before you start. It’s more focus on the creativity part than technical part. There is quite a few rules to understand before you register company.

The name of the company has to fulfill a few rules:
1. The name can’t be already in a use or being registered. You can get a result once you visit the local web online search – e.g. for Hong Kong can be found on Companies Registry’s Cyber Search Center. If you don’t in the search result the company name you have put, you can use it however there is still a few rules.

2. The name as similar. E.g. “Computer Technology” and “Computer Tech” are regarded as the same names. Startupr Limited or Startupr Copr. are the same company as well – only the suffix has been changed ( the suffix doesn’t make any differences).

3. One of the biggest issue once you’re choosing a company name: Trade marks! Always pay an attention if your chosen name does not have any registered trademark. If the trade mark is not register in Hong Kong, it might be registered in some another jurisdiction which keeps the the right of the trade mark. For that purpose you are better to find out whether the name hasn’t been in a use.

If you tell us to register a name “Nokia plus, Ltd.”, it might be registered however later on you can be suite for a duplicate of an existing name. For that purpose, it will be better if you get the notarized consent whether the name is not considered as a duplicate.

By Jakub Vele • Incorporation rules • 0 • Tags: Incorporation rules

Sep 27 2011

Register company in BVI – British Virgin Islands

If we talk about BVI as the offshore jurisdiction we should consider one of the most typical entity – International Business Company (IBC). IBC takes the form of a private limited company by share. This entity is not engaged in business within the jurisdiction in which it is registered. There is a lot of another offshore jurisdictions which take a place in Seychelles, UAE, Cayman Islands, St. Vincent and the Grenadines, Panama or Belize.

Each IBC has own characteristics and provides different advantage, BVI – IBC includes:

– one shareholder and director are required (don’t have to be locals)
– no minimum capital requirement, shares may be nominated in any currency – GBP, USD, EUR
– annual requirement is only to pay government annual fees
– AGM – Annual General Meeting might be hold anywhere on the world
– exemption from local corporate taxation and stamp duty
– wide range of business activities might be provided
– BVI IBC can own shares in other BVI companies
– an option to issue shares in either registered or bearer form

Register your BVI company.

By Jakub Vele • British Virgin Islands • 0 • Tags: British Virgin Island

Sep 23 2011

Register company in Saint Vincent and the Grenadines – Order form

St._Vincent_Order_Form_I.docx

Register company in Saint Vincent and the Grenadines.

By Jakub Vele • St. Vincent and the Grenadines • 0 • Tags: St. Vincent and the Grenadines

Sep 23 2011

Open up a company – IBC in St. Vincent and the Grenadines I.

I. THE INTERNATIONAL BUSINESS COMPANY (IBC)

Definition

Under the laws of St. Vincent and the Grenadines, an International Business Company is a company which is registered in St. Vincent but is not subject to any local taxes and does not regularly transact business with persons resident.

Currently an IBC cannot own real property in St. Vincent and the Grenadines but an amendment to the law in early 2008 is expected to change this.

Uses:

An IBC is a very flexible entity which can be used for almost every conceivable business purpose. Some of the most popular uses for an IBC are as:

A Trading Company

•    Exporting intermediary
•    Importing intermediary
•    International trading and investment
•    Re-invoicing intermediary

An Holding Company

• Parent Company / owning subsidiaries

A Property Holding Company

•    Ownership of intellectual property such as patents
•    Ownership of investments
•    Ownership of real property
•    Ownership of shares in other companies
•    Ownership of ships or vessels which can be registered in St. Vincent

A Consultancy Company

• Provision of professional and consultancy services to others

Other uses include:

•    Licensing and franchising
•    Offshore e-business / internet company
•    The employment of staff working on overseas assignments

Register your company with Startupr.

By Jakub Vele • St. Vincent and the Grenadines • 0 • Tags: St. Vincent and the Grenadines

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