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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    registered in the Cayman Islands the agent of the company must be resident in the Cayman Islands Taxes The company is not taxed on any kind of profit income dividends investments and capital gains The annual tax on the exclusive rights and privileges The company pays tax at a rate 575 if the company registered capital of less than 50 000 805 if the authorized capital of the company from 50 000 to 1 000 000 1690 if the authorized capital of the company from 1 000 000 to 2 000 000 2400 if the company registered capital exceeds 2 000 000 Annual reporting There is no need to provide financial statements but must provide annually a simplified income tax return Privacy Information about the directors and shareholders is not recorded in the state filing cabinet There is a special Protection Act under which disclosure of information or attempt to disclose information about a company registered in the Cayman Islands is a criminal offense and punishable by law Information about the beneficial owners is not disclosed Convention for the Avoidance of Double Taxation The Cayman Islands did not sign the conventions on avoidance of double taxation Restrictions on trading operations and activities of the company Companies registered in the territory of Cayman Islands can not sell or hold property in the territory of the jurisdiction Without a license companies can not engage in the business of banking all types of insurance and mutual funds Income tax for offshore companies There is no form of taxation in the Cayman Islands relating to individuals companies or trusts No taxes on income capital gains deductions from profits dividends investments or remittances Providing accountability There is no requirement to file financial accounts However the annual report must be submitted and it is a simple declaration Limitations of companies Exempt companies are not allowed to trade within the Cayman Islands and own real estate Company has no right to engage in the business of banking insurance or mutual funding without obtaining a special license The company can not borrow from the population Company name Company name must end with the words or acronym Limited Corporation Incorporated Societe Anonime and Sociedad Anonima The following words or abbreviations can not be used in the name of the company Assurance Bank Building Society Chamber of Commerce Chartered Cooperative Imperial Insurance Municipal and Royal PRICES FOR OFFSHORE SERVICES Registration of offshore company and first year of activity 4300 euro Standard order The documents services which are provided to the client are 1 Set of documents of the company Certificate of Incorporation Resolution on the appointment of Director Memorandum and Articles of Association Share Certificate General Power of Attorney if using the nominee service Declaration of Trust if using the nominee service Exemption letter from the nominee director with an open date if using the nominee service Courier services Corporate seal 2 Payment of government duties for registration of offshore company 3 Services of the registered office in Cayman Islands

    Original URL path: http://www.mvm.am/?p=cayman-islands&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    the amount guaranteed Partnership Partnership Trust Trust Capital The minimum size of registered capital of the company 1 000 EUR The proposed share capital of 1 000 EUR divided into 1 000 shares of par value 1EUR Requirements for the company The minimum number of shareholders one Minimum number of directors one recommended at least one director a resident of Cyprus for the use of agreements on avoidance of double taxation Shareholder s and director s can be both physical and legal persons Nominee directors and shareholders are allowed Requires the Secretary of the company may be an individual or a legal entity The registered office in Cyprus is compulsory for every company Taxation From 1 January 2003 all newly registered companies of Cyprus are subject to 10 tax on their profits Dividends paid by Cyprus tax residents are taxed at a rate of 15 Dividends paid to non residents of Cyprus are exempt from taxation VAT 15 Cyprus has signed a significant number of agreements on avoidance of double taxation There are currently 28 such agreements 3 are in the process of ratification and a few more in the stage of negotiations Signed and ratified by the Republic of Cyprus contracts are based on the model of the Organization for Economic Cooperation and Development OECD Cyprus is one of the leading offshore centers in the world having such a large number of agreements on avoidance of double taxation There are treaties with the following countries Austria Bulgaria Canada Hungary Germany Greece Denmark Egypt India Ireland Italy Canada China Kuwait Malta Norway Poland Romania Russia including all the CIS countries except for Kazakhstan Slovakia Syria United States France Czech Republic Sweden and the countries of former Yugoslavia We discuss the treaty with Belgium Finland and Singapore Under negotiation Armenia Thailand and Ukraine Annual Fees License fees are not applicable in Cyprus Reporting Meetings Annual Report which contains details of all those who have held shares during the year and directors during the year must be submitted to the Cyprus Taxation Authority and the Central Bank of Cyprus In addition every Cyprus company must prepare audited accounts and submit them to the Central Bank and the Tax office Each year all companies must hold an annual general meeting within fifteen months after the previous general meeting Annual and other meetings of shareholders and directors may be held in Cyprus or abroad according to the decision of directors or shareholders Audit of financial statements and bookkeeping Cyprus companies must prepare every year and apply to the Central Bank and tax authorities the company s financial statements certified by auditors In the case of non compliance with this requirement the Central Bank of Cyprus may revoke the license of the company and the company will be liquidated In addition tax authorities may initiate criminal proceedings against the company If the company fails to file reports to the tax authorities within one year after the end of the fiscal year the company s accrued

    Original URL path: http://www.mvm.am/?p=cyprus&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    tax on dividends This allows foreign owners and corporations to avoid paying taxes by registering an LLC in one of the states of the USA LLC is not obliged to provide a federal declaration or a declaration of state of the Income Tax Act With proper tax qualification company may be exempted from paying taxes Reporting and the requirements of the law Law of the LLC does not provide for reporting In the Memorandum and Articles of Association of the Company you must provide information about the company Minimum reporting makes LLC a confidential organization Investors or businessmen who prefer to maintain the confidentiality of its business can easily do so Tax Regime In the U S there are two types of income tax The first type of income tax federal All companies are required to pay this tax The second type of income tax state The state determines the size of the tax The amount of tax for the LLC in Delaware Washington DC and New York State is equal to zero which gives a great advantage of such companies LLC owned by non residents and not carrying on activities in the United States do not pay taxes in the United States Characteristics of an LLC registered in the U S Delaware NY Washington Tax 0 0 0 Annual license fee 100 0 100 Director Minimum 1 Minimum 1 Minimum 1 Founders Minimum 2 Minimum 2 Minimum 2 Disclosure of directors No No No Disclosure of information about the founders No No No The registered office in the U S Yes Yes Yes Annual Reports No No No Availability of bearer shares No No No Corporate directors Yes Yes Yes The presence of the Secretary Optional Optional Optional Resident Director No No No Standard authorized capital in protest Optional

    Original URL path: http://www.mvm.am/?p=delaware&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    of Dominica and the tax authorities of other countries For the maintenance of an offshore company every year to the date of incorporation is required to pay the government a small fee the amount of which does not depend on the size of the share capital Annual reporting There is no requirement to provide any statements or conduct an annual audit of the company The registered agent must keep copies of the following documents statutory documents of the company Memorandum and Articles of Association certificate of registration of an offshore company Certificate of Incorporation a copy of the register of directors Privacy Information about the real owners of the offshore company is kept only by the registrar and does not appear in any public record Information about shareholders and directors of the company is not recorded to a public register Also the services of nominee directors and or shareholders are allowed we provide these services The International Companies Act Section 112 provides for punishment with imprisonment for two years and a fine of 25 000 dollars for disclosing any information regarding the Company by any employee auditor or official registrar Information about the offshore company may be granted only by order of the court of Dominica and only in cases when the company s activity is a criminal offense under the laws of Dominica Requirements for the company To register the company in Dominica requires a minimum of one director and shareholder which may be one and the same legal or natural person a resident of any country and nationality Director need not necessarily be the owner of the company Permitted nominee shareholders and directors at your request we provide these services There is no requirement for the presence of local secretary Shareholders meeting if necessary can be held anywhere in the world as with the personal participation of the shareholders as well as by telephone or other means of remote communication Company s documents Since 2003 Dominica is a full member of the Hague Convention The Hague Convention 1961 and therefore the package of records shall be duly certified by the Apostille sworn Apostille Non of constituent documents in any language necessarily require translation into English Requirements for companies registered in offshore Dominica must have a registered office in Dominica and a local registered agent we provide these services Select items Name for an offshore company must end with a word phrase or abbreviation which indicates the status of the company Corporation Corp Incorporated Inc Limited Ltd SA In the title companies can not use acronyms words or phrases which may involve liaison with the Government of Dominica Government Govt National Royal Republic Commonwealth Dominica etc but without a special permit or license Assurance Bank Building Society Chamber of Commerce Foundation Trust etc Restrictions on offshore For offshore companies there are no restrictions on the conduct of any lawful trade or investment activities outside of Dominica except actions requiring a special license under the law for example authorize the

    Original URL path: http://www.mvm.am/?p=dominica&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    official business languages The non oil sector of the economy currently contributes some 80 of the total produced domestic products of Dubai and is continuing to expand in importance A long trading tradition has earned Dubai the reputation within the Middle East as the City of Merchants and this remains an important consideration for foreign companies looking at opportunities in the region today The UAE has concluded advantageous tax treaties with China Czech Republic Egypt Finland France Germany India Indonesia Italy Malaysia Netherlands air transport Pakistan Poland Romania Singapore Sri Lanka air transport Switzerland air transport UK transport It should be noted that the UAE is not on the OECD UN or EU blacklists so Companies incorporated in this jurisdiction if carefully structured with professional advice may be extremely useful for tax planning purposes REGISTRATION IN DUBAI There are a number of different ways of creating an establishment in Dubai depending upon the function to be carried out A Limited Liability Company is the most common way of registering in Dubai and is recommended where the purpose of the entity is to make sales within the region It should be noted however that 100 foreign ownership of such an entity is not permitted A professional licence will enable the provision of professional services while a branch or representative office will be suitable where there is no requirement to actually conduct sales or manufacturing only to provide information and negotiate sales 1 LIMITED LIABILITY COMPANY LLC This type of company allows for a joint venture between national and foreign partners Non national partners are permitted to hold shares not exceeding 49 of the capital with the national partner holding the remaining 51 The law provides that the minimum share capital required is AED 300 000 US 81 750 Share capital must be fully paid up and deposited with a local bank can be transferred out once the company is registered The shares of such companies are not open for subscription by the public Despite the split in shareholdings profits may be divided in other ratios agreed upon taking into consideration efforts of non national partners in management provision of technology or expertise The expatriate partner may undertake management of the company 2 PROFESSIONAL LICENCE It is possible to apply for a professional licence as a means to providing a professional service in Dubai This involves issuing a licence in the name of an individual who must hold a relevant professional qualification A UAE resident must be appointed as a service agent whose role is to facilitate visa applications and other administrative issues Normally the local agent will be paid an agreed lump sum which is subject to negotiation but will be a minimum of US 7 500 per annum and may be considerably larger depending on the standing of the local involved 3 BRANCH OR REPRESENTATIVE OFFICE Foreign companies may establish a branch or representative office in the UAE Branches and representative offices may subject to obtaining the necessary licences carry

    Original URL path: http://www.mvm.am/?p=uae&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    legal person Directors and shareholders can be both physical and legal entities residents of any country It s possible to use the nominee directors if it is provided by the charter Company Secretary is required must be a resident of Hong Kong which can be both physical and legal person Registered office is required which must be real physical address not mailbox must be situated in Hong Kong Taxation Income tax rate is 17 5 and applies only to income earned in Hong Kong This means the following while Hong Kong company does not conduct any business in Hong Kong it is exempt from paying taxes However this exemption is not granted to Hong Kong companies automatically Eligibility for tax exemption must be proved to the tax authority This is the task of auditors who represent the company before the tax authority when filing tax reports In Hong Kong there are no taxes on capital gains dividends interest royalties received from abroad or going abroad VAT is also absent Agreement on the Avoidance of Double Taxation Hong Kong signed a number of tax treaties for maritime and air transportation with the following countries Australia Austria Bahrain Burma Brazil Brunei United Kingdom China Germany Israel India Indonesia Italy Canada Chile China Luxembourg Mauritius Malaysia Nepal Netherlands New Zealand Norway United Arab Emirates Oman Pakistan Russia Singapore Thailand Turkey Philippines France Switzerland Sri Lanka Estonia South Korea Japan Comprehensive agreements on avoidance of double taxation Hong Kong has signed with three countries Belgium China and Thailand At present negotiations are underway with India Fees All Hong Kong companies regardless of whether they carry on business in Hong Kong or no must pay the registration fee business registration fee size of which is currently set in the amount of HK 2 600 This fee must be paid within one month from the date of establishment of the company and later every year Assembly and Annual Report The annual general meeting of shareholders in Hong Kong is not required Companies must file annual reports that provided detailed information about the directors and shareholders of the company Audit Each year companies must submit an annual report Annual Return All Hong Kong companies must keep accounting records which should be kept at the registered office of the company or elsewhere in accordance with the decision of the directors Each company must appoint an auditor who must be a member of the Hong Kong Association of Accountants and have relevant certificates In Hong Kong there is no requirement for accounting reports to the Register of Companies Privacy Register of directors and shareholders is open but anonymity can be achieved through the use of nominee shareholders and directors PRICES FOR OFFSHORE SERVICES Registration of offshore company and first year of activity 1670 euro Standard order The documents services which are provided to the client are 1 Set of documents of the company Certificate of Incorporation Resolution on the appointment of Director Memorandum and Articles of Association Share Certificate

    Original URL path: http://www.mvm.am/?p=hong-kong&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    via Antigua Characteristics of companies registered in the jurisdiction of Nevis Corporate Law Business Corporation Ordinance 1984 as amended particularly in 2000 Reg formation and activity of International Business Companies IBC similar to the laws of Delaware Law on Limited Liability Companies 1995 regulates the formation and operation of the limited liability companies LLC Nevis Limited Liability Company Ordinance 1995 Company name Company name must end with a word phrase or abbreviation which indicates the organizational and legal form for example Ltd Corp SA In the case of a Limited Liability Company Limited Liability Company Limited Liability Company LLC LLC or LC Capital There are no requirements to the size of the authorized capital The standard authorized capital of the company 100000 Mandatory payment of the authorized capital is not required There are no requirements for minimum authorized or to be issued share capital Stocks Bearer shares are not permitted Type of shares with a nominal value Requirements for companies Minimum number of directors one Requirements for residency directors no Allowed directors legal entities You are required to have a local registered agent Minimum number of shareholders one Nominee shareholders and directors are allowed Audit and financial reports Since the requirement to provide audited accounts or annual financial statements of public authorities is absent the company is required only to keep records of their financial activities which should reflect the financial position of the company Constituent documents of the company can be stored anywhere in the world Meetings Meetings of directors and shareholders do not need to be held in Saint Kitts and Nevis There is also no requirement for an Annual General Meeting All meetings may be held outside Saint Kitts and Nevis by telephone or through other electronic communications Alternatively directors and shareholders may vote by proxy Company names Company name must end with one of the following words or their respective abbreviations Limited Liability Company LLC or LC Names which require a permit or license banks building societies savings loans insurance assurance re insurance fund management investment fund municipal Chamber of Commerce University or their equivalents in foreign languages PRICES FOR OFFSHORE SERVICES Registration of offshore company and first year of activity 1450 euro Standard order The documents services which are provided to the client are 1 Set of documents of the company Certificate of Incorporation Resolution on the appointment of Director Memorandum and Articles of Association Share Certificate General Power of Attorney if using the nominee service Declaration of Trust if using the nominee service Exemption letter from the nominee director with an open date if using the nominee service Courier services Corporate seal 2 Payment of government duties for registration of offshore company 3 Services of the registered office Additional offer to the order Nominee services for the first year nominee shareholders not more then two nominee directors not more then two If you choose a nominee director we provide the power of attorney for free Annual maintenance of the company 850 euro after the

    Original URL path: http://www.mvm.am/?p=nevis&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    and tax on dividends This allows foreign owners and corporations to avoid paying taxes by registering an LLC in one of the states of the USA LLC is not obliged to provide a federal declaration or a declaration of state of the Income Tax Act With proper tax qualification company may be exempted from paying taxes Reporting and the requirements of the law Law of the LLC does not provide for reporting In the Memorandum and Articles of Association of the Company you must provide information about the company Minimum reporting makes LLC a confidential organization Investors or businessmen who prefer to maintain the confidentiality of its business can easily do so Tax Regime In the U S there are two types of income tax The first type of income tax federal All companies are required to pay this tax The second type of income tax state The state determines the size of the tax The amount of tax for the LLC in Delaware Washington DC and New York State is equal to zero which gives a great advantage of such companies LLC owned by non residents and not carrying on activities in the United States do not pay taxes in the United States Characteristics of an LLC registered in the U S Delaware NY Washington Tax 0 0 0 Annual license fee 100 0 100 Director Minimum 1 Minimum 1 Minimum 1 Founders Minimum 2 Minimum 2 Minimum 2 Disclosure of directors No No No Disclosure of information about the founders No No No The registered office in the U S Yes Yes Yes Annual Reports No No No Availability of bearer shares No No No Corporate directors Yes Yes Yes The presence of the Secretary Optional Optional Optional Resident Director No No No Standard authorized capital in protest

    Original URL path: http://www.mvm.am/?p=new-york&l=eng (2012-12-28)
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